Sportradar Denies Short Seller Claims, Vows to Fight Back as Shares Fall

(AsiaGameHub) –   Sportradar has declared its firm intention to dispute accusations of its involvement with illicit gambling activities, following a significant drop in its share price due to these claims.

Reports from two investment research companies, Callisto Research and Muddy Waters, allege that Sportradar has been supplying services to unlawful operators, even as it offers integrity services to legitimate businesses and sports bodies.

Both Callisto and Muddy Waters have taken short positions on Sportradar’s stock, effectively wagering on a decrease in its value.

These two firms operate as short sellers, establishing short positions in companies and then releasing critical research and allegations, which typically result in a fall in share price.

This strategy has proven successful for the pair concerning Sportradar. By 4pm BST on April 22, 2026, Sportradar’s stock price on the New York Nasdaq had decreased by 22.75% to $13 per share, a notable drop from its average of $16-$18 over the preceding five days.

Allegations from Short Sellers

The accusations from Muddy Waters and Callisto Research are extensive, but fundamentally charge Sportradar with hypocrisy: offering its integrity monitoring services to regulated entities while simultaneously selling other services to unlawful operators.

Muddy Waters asserts that it dispatched representatives to Sportradar’s booth at the ICE trade show in Barcelona earlier this year. These representatives posed as members of a newly established betting firm targeting Vietnam, Thailand, Indonesia, and China.

Online sports wagering is prohibited in three of these four nations, and in Vietnam, it is limited solely to horse racing, greyhound racing, and international football fixtures. 

Muddy Waters claims that “not a single Sportradar salesperson declined” their inquiry, and that their representatives were later directed to a Sportradar salesperson specializing in Asia. 

Callisto, for its part, alleges that between 30% and 40% of Sportradar’s revenue might originate from unregulated markets. It also claims to have presented its findings to European and North American regulators, stating that three of these have initiated investigations.

“We contend that Sportradar will face a choice: either forgo its earnings from illegal operators or risk losing its licenses in Europe and North America,” Callisto states.

Sportradar Responds

Sportradar holds integrity partnerships with numerous prominent sports organizations, such as FIFA, UEFA, the National Basketball Association (NBA), National Hockey League (NHL), and Major League Baseball (MLB).

Accusations of collaboration with illicit firms—operators frequently linked to match-fixing—pose a significant danger to Sportradar’s global integrity operations. This also emerges as regulators and governments worldwide are dedicating increased resources to combating the black market.

For instance, the UK has established a taskforce against illegal gambling. Leading operators such as Flutter Entertainment and Entain have openly advocated for stricter measures against black market activities, and the involvement of Asian-focused, non-UK licensed bookmakers in the English Premier League has sparked debate in the nation.

Claims that Sportradar is engaging with companies in this sector could harm the Swiss firm’s relationships with some of the largest licensed gambling operators. It is anticipated that the company will vigorously contest these allegations.

A statement from Sportradar asserted, “The short reports released today contain numerous factual inaccuracies regarding Sportradar, and we unequivocally dispute these claims.”

“These reports exhibit a profound misinterpretation of our business and the industry, and were penned by short sellers aiming to diminish shareholder value and profit from market volatility.”

“Sportradar collaborates solely with licensed operators, adheres to stringent global compliance and due diligence protocols, and we uphold our independently audited financial statements, risk disclosures, and the information supplied to investors and regulators.”

“We conduct our operations in accordance with the highest ethical standards, consistent with Sportradar’s policies and all relevant laws and regulations.”