SportsCastr has filed two separate lawsuits against Sportradar Group and Genius Sports Limited for patent infringement relating to the company’s core interactive streaming technology. Both firms are critical components of the technological foundation for the multibillion-dollar sports betting and interactive video businesses.
Regarding SportsCastr it is a sports technology company with original cloud-based software that provides interactive viewing exposure to various verticals, such as the media, associations, and sportsbooks. This allows their users to be connected to real-world odds while concurrently placing bets while watching a sporting event.
SportsCastr has filed lawsuits in the US District Court of Texas, the cases coming under the numbers 2-23-cv-00471 and 2-23-cv-00472. As per the Interactive Chairman of PANDA, Donald Schupak, they have carried out a significant amount of investment in developing the concerned technology and will not allow any breach of their patent. Besides, in his view, both the companies on their radar are their direct competitors.
With the help of their patented technologies, PANDA has been instrumental in introducing a number of video streaming products to the market. The top sports media companies, leagues, and sportsbooks all use PANDA Interactive’s B2B Watch and Bet platform, which is one of these products.
According to the CEO of PANDA Interactive, Kevin April, the connection between media and sports betting is an integral part of taking the player’s exposure to the next level. He added that PANDA came out with its technology before legalizing sports betting in the US. Since the technology comes with a patent, no company has the right to breach it and gain benefits from it.
According to Andrew Schupak, the Interactive Chief Strategy Officer of PANDA, the technology that PANDA possesses is in fact a game changer for sports bettors and sportsbooks. With the coming together of betting odds and live broadcast, PANDA’s platform does away with interrupted transactions, lessening decision-making tensions and furthering players’ involvement. The legal case filed by PANDA is being fought by King & Spalding.
SportsCastr was officially established in 2016. The company is engaged in developing new-age technology that provides the option for online sportsbooks, sports media, leagues, and betting subsidiaries to carry forward involvement and increase earnings via their unique content. The highlighting product of the company is PANDA Studio, which is a benchmark Watch and Bet platform that allows users to view live events.
PANDA CUB, an AdTech solution for sports media and betting companies, has also been released. This system uses artificial intelligence to scan papers for betting-related keywords like team and player names and then applies a variety of odds-related tweaks. The company has the necessary license to operate as an online sports betting service, is active in more than six states, and is backed by a team of advisors and investors.