Sportradar today announced ORAKO, an all-in-one sportsbook solution for betting operators seeking to introduce a sports betting offering or enhance an existing one. ORAKO is packed with the technology, products and tools operators need to quickly launch and establish an omnichannel sports betting service for customers.
Sportradar’s all-in-one sportsbook solution is designed to meet the broad needs of an operator regardless of their stage in the business life cycle. Optimised for intense data loads and boasting advanced platform capabilities, as well as Sportradar’s sportsbook engine, ORAKO provides operators with the choice of a fully managed service, or an option that enables operators to manage their own service using the solution’s advanced tools and technologies.
With the ORAKO solution, operators choose how they build out their sportsbook and tailor their content in line with the interests and preferences of their customer base. In addition, ORAKO delivers unrivalled reliability and is capable of handling large numbers of bets at any one time. This is particularly important around high-profile sporting events when the number of bets placed escalates and operators need the security of a platform that can scale instantaneously without failing, knowing their business will not be impacted financially.
ORAKO includes the marketing services that operators need to improve business performance. Powered by Sportradar’s artificial intelligence and machine learning capabilities, ORAKO deploys deep customer insights to connect operators with a broad customer base, optimise marketing performance and deliver a personalised experience for bettors and fans.
ORAKO is compatible with existing Player Account Management (PAM) systems and is pre-loaded with Sportradar’s third-party PAM partners. Compliant in all major jurisdictions including Africa, Europe, Latin America and North America, ORAKO provides global reach and supports operators’ safe entry into new and emerging markets following ISO 27001, ISO 20,000 and ISO 9001 standards.
G3 interviewed Sportradar’s Jacob Lopez Curciel, Managing Director for Managed Sportsbook Services at Sportradar, about the development of ORAKO and what it means for sports betting operators.
How long has Sportradar been working upon the ORAKO concept?
Jacob: We have been developing ORAKO for several years, having been delayed slightly by the pandemic.
What problem is ORAKO solving?
Jacob: Sportradar isn’t just a platform provider – we supply the technology, data and managed services needed to operate a complete sportsbook. When we looked at how we could bundle everything together – providing a true ‘end-to-end’ service – we had to ensure to give operators complete flexibility to choose the services they want from us, complemented by third-party services from the market. It was very important that operators remain in control and have the ability to select the services they want to take in-house, in addition to the tools we provide via our managed services team. ORAKO provides this flexibility, enabling operators to enjoy all the benefits of Sportsradar’s automation tools, artificial intelligence, site integration etc., without the integration pains they many have experienced in the past, as it takes a lot of effort to integrate these different services and bring everything together into one solution.
Why is one-stop better than a modular approach?
Jacob: It’s important to stress that a one-stop solution can also be modular and it doesn’t mean that you need everything in the same place. The important point about ORAKO is its flexibility. All Sportradar services, end-to-end, are now available through our sportsbook services, giving many advantages to the operators. I would actually say that Sportradar is ‘modular-to-the-bone,’ meaning that we can offer our front-end solution with standard configuration, but if the operator needs greater support, they also have access to our full sportsbook with all services combined. ORAKO gives operators all the capabilities of an API in which they can consume just the services that are required. This is very important for operators that need extra levels of personalisation, to whom we can offer every level of support.
How does ORAKO help with operational pressures?
Jacob: One of the pressures that operators face today is operational capacity, as regards to trading services, marketing services, CRM services, automation etc. We tackle this by providing our managed services within the ORAKO sportsbook. Risk management, for example, utilises the Sportradar team to provide capabilities for the operator, giving visibility of the services we are providing according to the strategic agreements we have with the operators. We give the operator visibility of the outcome in regards to each service level within our agreement, including compliance, taking on board all operational requirements where needed.
In addition, one of the biggest overheads operators face is the need to keep up-to-date with their competitors. At Sportradar, development is a continuous process in which we are creating new services and evolving existing ones, finding new ways to tacke the requirements of customers. Operators partnering with Sportradar and the ORAKO sportsbook solution benefit from this continuous development from the outset.
If you’re an existing Sportradar customer, is this an additional product or an upgrade?
Operators can choose to select the ORAKO solution or continue taking individual elements from Sportradar, it is their decision. We are not forcing change upon operators, we are increasing options. We deliver from 1-100 per cent of managed sportsbook services, which are consumable in whatever shape fits our customers.
How will ORAKO change the shape of the market?
Jacob: Over the last 20 years, Sportradar has demonstrated that how the company sees the market, is in fact how the market evolves thereafter. Operators will see that ORAKO is first to market in many different areas, offering new products, advantages and services, including how we process data, apply artificial intelligence etc. Sportradar’s investment in sportsbook innovation is definitely something that will shape the market.
What were the challenges faced in the development of ORAKO?
Jacob: The sheer volume of services that have to be brought together within the ORAKO solution. We also prioritised our existing operators, which has required a great deal of planning. However, I would add that the quality that we invest and deliver meant that our priority was not to speed ORAKO to market, but make sure we did things the right way. Complexity in terms of roadmap alignments requires multiple cycles of planning to ensure that everything we provide for the sportsbook is fully aligned. We have many units providing products and services, which means that aligning all of them was no an easy task. Integrating all these services has taken a great deal of time and effort – and it is a continual process too. The volume of work has been significant, though I would not say it has been difficult – rather it takes time to be consistent and solid in our approach and delivery.
Who is the ideal customer for ORAKO?
Jacob: ORAKO was developed to fulfil all the requirements of large multi-jurisdictional operators that demand technology and processing power not often found in the marketplace. We started with the highest demanding operators in mind, knowing that by meeting needs we could service the entire market; including smaller niche operators/casino operators looking to offer a sports book for their players for the first time. When I say we are adaptive and we can provide standardised solutions through to bespoke solutions, I mean that we are ready for any kind/size of operator to extract the maximum from ORAKO to suit their business needs both now and in the future. So I would say that there is not an ideal operator for ORAKO in terms of size or importance. In terms of coverage of services and products, performance, quality and support services, plus treatment of the customer, Sportradar can tackle everything in one end-to-end package – ORAKO.
How do you scale to meet the demands of the customers as ORAKO gains traction?
Jacob: We have been working not only on the development of the technology, but we have also built the engineering processes that are required to be able to scale the business adequately. This comes about by both increasing our teams and through market planning. I’d say that if you are very successful in launching a product into the market, you absolutely must be ready to service that market. In terms of the scalability of the teams, products and services, we are not concerned regarding our capacity as regards to processing transactions or the distributed nature of ORAKO – which is not going to impose any challenge. If we were to onboard 20-30 operators immediately onto the ORAKO platform, it would not present a challenge for us. Obviously, launching a sportsbook service is an activity that requires care and attention and we are not over-committing to what we can achieve. Sportradar never over-commits.
How does ORAKO accommodate new markets as they emerge?
Jacob: When discussing industry-related regulated emerging markets, we plan to always have this covered for ORAKO clients. If the market in question is unregulated then we have to explain that Sportradar only works in regulated markets and that ORAKO will not be available in these markets. However, where it is legal to operate and we have all the building blocks in place, we will offer the service in those markets, since it is not especially challenging to provide the platform to a new market. Time-management services is a different proposition, as you have to deal with AML and regulatory requirements, but it is just a matter of starting earlier, which is a matter of course for Sportradar.