Story perspectives

Sportradar Shares Drop 23% Over Illegal Gambling Claims

4/23/2026

Summary

Sportradar Shares Plunge

Sportradar's shares fell to $13.04, a drop of over 23%, after reports alleged it supplies unlicensed gambling operators.
Muddy Waters estimated that 20%–40% of Sportradar's revenue comes from illegal gambling.
Callisto said 270 of Sportradar's 800 clients are illegal, representing over a third of its base.
Sportradar said it works only with licensed operators, follows strict compliance, stands by audited statements, and called the reports inaccurate and profit-driven.

Summary

Sportradar Faces Probe

The UK, US and three European gambling regulators have opened assessments of Callisto’s allegations against Sportradar.
Despite Sportradar’s policy to pause any Iran-linked client, screenshots show Betradar games on Berrybet and Betfido that route payments through Iran’s Nobitex exchange.
Santeda International’s illegal UK casino brands—Rolletto, Velobet, Goldenbet, Mystake—feature Sportradar logos and widgets.
FIFA renewed Sportradar’s integrity partnership until 2031, covering the next two World Cups and over 600,000 matches.

Summary

Muddy Waters Alleges

Muddy Waters alleges Sportradar introduced investigators to Yabo Group, whose call centers use trafficked workers.
U.S. and U.K. authorities have sanctioned the criminal networks tied to Yabo Group.
A December raid on a Cambodian site found lions used to torture patrons who defaulted on debts.
Amnesty International claims Cambodia’s government enables the gambling networks.
Muddy Waters says Sportradar helps Stake operate in the U.S. and links bet365 to illegal activities.

History

Historical Context

The Wire Act of 1961, aimed at curbing organized crime, specifically targeted interstate sports betting. In 2011, the U.S. Department of Justice clarified its scope, leading to a boom in online gambling revenues, estimated at $2.4 billion. Ongoing scrutiny of gambling operators, including Sportradar, highlights the Act's lasting impact on U.S. gambling regulations and potential future enforcement changes.

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Sportradar Shares Plunge

Sportradar's shares fell to $13.04, a drop of over 23%, after reports alleged it supplies unlicensed gambling operators.
Muddy Waters estimated that 20%–40% of Sportradar's revenue comes from illegal gambling.
Callisto said 270 of Sportradar's 800 clients are illegal, representing over a third of its base.
Sportradar said it works only with licensed operators, follows strict compliance, stands by audited statements, and called the reports inaccurate and profit-driven.

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