Sportradar chief executive Carsten Koerl rejected allegations linking the company to black-market gambling operations, describing them as unfounded in a LinkedIn letter. Koerl said around 5%–12% of revenue was connected to grey-market exposure, according to the company’s earnings report.
The allegations and Koerl’s response concern Sportradar’s exposure to unregulated gambling markets.
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Sportradar CEO Carsten Koerl told analysts that revenue exposed to grey-market operators was in the low to mid-single digits, with simulations suggesting a maximum of 12%. He rejected short-seller allegations that the company worked with unlicensed platforms and said it did not work with black-market operators.
Sportradar said its US revenue rose 47% to €98 million in the third quarter, with prediction-market partnerships contributing financially for the first time. Overall revenue increased 24% to €363 million, while adjusted EBITDA rose 21% to €102 million. Chief executive Carsten Koerl said the company served Kalshi, Polymarket, Novig and Robinhood.
Sportradar announced that Sameer Deen will become its chief operating officer on 18 May 2026, reporting to CEO Carsten Koerl. The company said Deen will oversee commercial and group operations; he previously served as Entain’s chief commercial officer and president of international betting and gaming.
Sportradar reported Q1 2026 revenue of €347m, up 11% year on year, and a €6m loss compared with a €24m profit a year earlier. The company attributed pressure on earnings to a €9m foreign-exchange loss; adjusted EBITDA rose 12% to €66m, and its full-year guidance remained unchanged.
Prediction-market platforms were trading contracts on control of the US House and Senate during the 3 November midterm elections, according to the report. It cited Kalshi and Polymarket prices at 10:32 a.m. ET and said no results had been reported by then. The report also described third-quarter figures from Robinhood, including $173 million in event-contract revenue and 16.4 billion contracts traded.