The NBA will receive a three percent equity stake in Sportradar as part of their new eight-year deal. Sportradar will receive exclusive rights to distribute NBA data to sportsbooks around the world. 

The cash and equity components combine to value the deal at more than $1 billion.

The NBA and Sportradar have worked together since 2016. Mark Cuban, Michael Jordan and Ted Leonsis’ Revolution Growth each invested in Sportradar in 2015 when they were a private company. 

Basketball is the second-most wagered sport in the U.S., behind football. Internationally, NBA betting dwarfs NFL betting, thanks to strong fan bases in Asia and Europe.

"It’s a better betting sport,” CEO Carsten Koerl said, comparing basketball to football. “This is really important. Purely from popularity among bettors, the NBA is significantly bigger—it’s a live betting sport."