On April 22, 2026, Muddy Waters Research published a report titled, “Sportradar AG: Putting the BET into Aiding and Abetting”. According to the report, Sportradar knowingly served customers operating in jurisdictions where online gambling was illegal. The report also stated that Muddy Waters experts analyzed Sportradar’s system architecture and code and “found evidence of direct connections between numerous illegal and nefarious operators and [Sportradar].”
On this news, the price of Sportradar stock fell $3.80 per share, or 22.6%, to close at $13.04 on April 22, 2026.