The Professional Squash Association (PSA) has taken an increased equity stake in Sports Data Labs, Inc. (SD Labs) through its new commercial arm, Squash Media & Marketing (SMM).
SD Labs and the PSA have been in partnership since 2018, when they were the first to make in-game physiological data available for commercialisation. Since then, the partnership has provided over 750 hours of real-time, in-game biometric data to broadcast partners and has paid out over $100,000 to players based upon use of their data.
The PSA made a strategic investment in SD Labs in 2019 and is now enlarging its shareholding position in the US-based data technology company.
In addition, SMM and SD Labs have signed a new collaboration agreement with a view to create an entirely new betting experience for the North American market based upon real-time, in-game athlete data that will fuel novel betting opportunities and products, while providing new revenue streams for athletes and complimentary technology organisations within the sports betting ecosystem for the first time.
“We are thrilled to develop this groundbreaking opportunity with the PSA,” said SD Labs Co-Founder & CEO, Mark Gorski.
“Our experiences tell us that the incorporation of real-time, in-game athlete data into sports betting products and models – and its tremendous value in helping us understand why outcomes occur – will fundamentally change the way sports are bet on and how fans interact with data.
“This partnership with the PSA will set us on a path to reimagine how entirely new value can be created and distributed in the sports betting ecosystem for leagues, athletes, sensor manufacturers and other stakeholders who will be foundational to the value being generated.”
PSA Chief Executive Alex Gough added: “Sports Data Labs has established a bold vision with us that we believe has the potential to create significant value for both the PSA and our players.
“They have been a pioneer in the athlete data space and their track record of supporting our tour globally over multiple seasons, while providing real value for the sport and our players, gives us great confidence in their abilities to bring an entirely new opportunity to the sports betting ecosystem with us.
“We believe athlete data will play a big part in driving new revenue and visibility for the tour and players in the future and look forward to working closely with the SD Labs team to make our collective vision a reality.”
Earlier this year, SD Labs became the first company to receive peer-review validation for its in-game collection, analysis and monitoring technologies in live professional sports competition with medical-grade sensors. SD Labs has also earned a number of accolades, including being named 2020 Early-Stage Startup of the Year in the data category by the Sports Technology Awards and being shortlisted for ‘Best Elite Performance Technology.’
SD Labs was recently granted its first U.S. patent and has technologies supported by an additional 18 U.S. patent filings which touch upon multiple aspects of the sports betting ecosystem.