We are short $SRAD Sportradar

[Euler]

I follow these guys and general industry stuff and came across this this evening.

We are short Sportradar Group AG.

At the ICE 2026 gaming conference in Barcelona, our investigators posed as operators of a startup sportsbook. We told SRAD’s sales team — repeatedly and explicitly — that our target markets were Vietnam, Thailand, Indonesia, and China. Every one of these countries bans online gambling. Not one SRAD salesperson told us no. Instead, an Asia-focused sales executive walked us through product offerings tailored to each illegal market, bragged that SRAD “serves everyone,” and offered to introduce us to the Yabo Group — China’s largest illegal gambling operator, whose Cambodian call centers are staffed by trafficked and enslaved workers. He warned us that Yabo’s people didn’t attend ICE because “they would be hunted down.” Then he offered to make the introduction anyway. This is who SRAD is.

https://muddywatersresearch.com/researc ... hort-srad/

[Euler]

Looks like somebody else Has reached the same conclusion.

https://callisto-research.com/#srad

[Euler]

Part of our interest in this should be that SportsRadar owns a lot of the licences for data and other things in sports markets.

[Mike Oxlong]

To add to that, Sportradar have had lawsuits filed against them owing to potentially forming data monopoly…

https://www.gamingintelligence.com/lega ... dominance/

[Morrid4]

https://www.legalsportsreport.com/26146 ... k-tumbles/


An opportunity?
I'd say this wasn't a shock to a lot of people. The line between legal and illegal market is getting blurrier all the time.