Sportradar Refutes Claims That It Works With Illegal Gambling Companies
Sportradar rejected accusations from short sellers Muddy Waters and Callisto Research that it secretly has exposure to illegal or unregulated gambling operators overseas, including operators allegedly linked to match fixing. CEO Carsten Koerl called the claims “unfounded” during the company’s Q1 earnings call and said the reports relied on misinformation and old allegations intended to pressure Sportradar’s stock price.
The company said it has a strong compliance framework and uses know your customer checks, including ownership verification and sanctions screening, to ensure it works with licensed operators. However, a person close to Callisto Research told Front Office Sports that Sportradar’s response has not fully answered questions about “grey market” relationships and alleged ties to unlicensed operators.
The allegations hurt Sportradar’s share price, which fell sharply after the short seller reports. At the same time, the company reported Q1 2026 revenue growth of 11% to $406 million, but posted a $7 million loss and missed analyst expectations. Jefferies downgraded the stock, while Sportradar announced buybacks and a new COO hire.
