Monday, May 20, 2024

Monumental Lawsuit in Sports Betting Arena Could Reshape Industry

SportsCastr Inc. (d/b/a PANDA Interactive), a pioneering sports technology company with proprietary cloud-based software that enables media, leagues, and sportsbooks to offer interactive viewing experiences – including the ability for viewers to see real-time odds and to place a bet while watching a sporting event – recently announced that it has filed two separate complaints for infringement on its foundational interactive streaming technology patents. The complaints were filed against Sportradar Group AG (NASDAQ: SRAD) and Genius Sports Limited (NYSE: GENI). The two companies provide much of the technological infrastructure to sports-betting and related interactive video industries.

The complaints, filed in US District Court for the Eastern District of Texas against Genius Sports and Sportradar, respectively, are case numbers 2-23-cv-00471 and 2-23-cv-00472.

“We have made substantial investments in the development of our technology and cannot tolerate having our patented technology used unfairly by others and against us,” said PANDA Interactive’s Chairman Donald Schupak. “No one wants to see their own arsenal used against them in battle.”

PANDA has launched multiple video streaming products incorporating its patented technologies, including the SportsCastr mobile app, which evolved into PANDA Interactive’s B2B Watch and Bet platform that has been used by leading sports media companies, leagues and sportsbooks.

“The confluence of media and sports betting is essential to the future of the fan-viewing experience,” added PANDA Interactive’s CEO Kevin April. “PANDA developed its pioneering technology long before online sports betting was even legal in the US. Sportradar and Genius Sports are infringing on our patents and capitalising on our groundbreaking work.”

“PANDA’s technology is transformational for sports bettors and sportsbooks. By combining actionable betting odds with any live or on-demand broadcast, PANDA’s platform eliminates transaction friction, reduces decision fatigue, and increases fan engagement,” said Andrew Schupak, PANDA Interactive’s Chief Strategy Officer.

PANDA Interactive is represented in the cases by King and Spalding LLP.

Visit https://pandainteractive.com

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