Sports betting is an insanely popular market that's going to get even bigger in a few years. Ark Invest estimates the sports betting market will climb from $9.5 billion to $37 billion by 2025. That's 311% growth.

And Sportradar stock could go public in matter of days. This is one of the most important companies in the sports-betting space, and you'll see why in a minute.

Sportradar formally registered with the SEC in August after a SPAC merger with Horizon Acquisition Corp. It fell through. The Sportradar IPO date is still yet to be set, but it's anticipated sometime before the close of 2021, as early as Sept. 14.

The company expects to be valued at $8.3 billion and raise $612 million from 19 million shares. Analysts see the company priced at a range of $25 to $28. Day-one buys are rare. But some stocks can surprise you. Let's find out whether or not Sportradar stock is a buy.

What Is Sportradar?

Sportradar collects and analyzes sports data. That data serves bookmakers, media companies, and sports leagues around the world. It all started with a software program that made it easier to extract betting odds from different places on the Internet. Several mergers and acquisitions later, and it was able to establish key partnerships with NBA, NFL, NHL, and NASCAR in little more than a decade.

Notable investors include NBA legend Michael Jordan and angel investor Mark Cuban. Basically, the company collects sports data and puts it through an algorithm. From that, Sportradar measures potential outcomes to pass on to sports betting companies.

Today, it's headquartered in Switzerland, but it has 35 offices in at least 20 countries and nearly 3,000 full-time workers. And it does plenty more than just sell betting odds. It's similar data to sports broadcasting companies as well. But there's more to this company.

Another key part of the Sportradar business is its "integrity services." Sportradar partners with law enforcement to monitor potential match fixing or fraud activity. There's a whole security division headquartered in London for this purpose.

Now, just because a company has an exciting name and is well connected, is that enough reason to buy the stock day-one? Here's your answer.

When Should You Buy Sportradar Stock?

Sportradar announced a partnership with FanDuel Group last month. It will officially be partnered until 2028. FanDuel is one of the premiere mobile sports betting platforms. And that sort of points to how you should think about this stock today.

Sportradar has done an incredible job digging its heels into the sports betting industry. But its partnerships with all the biggest leagues in the world's biggest sports is just a piece of the puzzle. A company like Sportradar stands to get a big chunk of the sports betting industry, because not only is it a major name in the industry, it provides multiple services that all the major industry players depend on.

This could signal recurring revenue down the line that would benefit investors over time. Still, IPOs can be risky business when we don't know if a company is profitable. It's all about seeing if the stock is valued with respect to the real business. You don't want to go into a stock just because a lot of people like it.

If you can get this stock at the low end of its expected range, around $25, it could be worth seeing where it goes. Otherwise, if Sportradar stock climbs to $28, the high point of the range, you should probably hang back and see about grabbing the stock on a dip later.

TM Ed. note: This is expected to price in the coming week, with Nasdaq ticker SRAD.