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BET - Betmakers Technology Group

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Um, from whence the immense enthusiasm? Must be one for the visionaries.
Exploding share issuance, negative ROE, Revenue improving but sales per share not.
H1 FY21 underlying ebitda $0.04m, racing ahead
Monthly Chart: very 'overbought'
 
finicky said:
Um, from whence the immense enthusiasm? Must be one for the visionaries.
Exploding share issuance, negative ROE, Revenue improving but sales per share not.
H1 FY21 underlying ebitda $0.04m, racing ahead
Monthly Chart: very 'overbought'
Click to expand...
PTSP $1.70 in June 21'
My position is in extremely clear blue-sky since early Feb 21'
I've ridden the uptrend channel traded in and out since March 21'
See what the EOFY brings me and other shareholders in this one...
$1.28 takes me out of the most recent trade this morning
 
no I have two parked in a delicate location that I only call upon occasionally
two are better than one I say...
 
BET.gif
 
tech/a said:
Ouch this got hammered!
Click to expand...
bashed to within an inch of it's life over the past two sessions
stopped out at $1.28 today and will look for it to settle and re-enter later on
I've had an amazing ride on this one in recent months @tech/a
 
It isn’t easy for a [ ] company trading on a massive multiple to digest a far larger business. And every day’s trading since Friday’s announcement has only made it harder, BetMakers’ own valuation evaporating with the growing number of shares it’ll have to issue to Tabcorp’s shareholders to get the deal over the line.
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Structured such that BetMakers would pay $1 billion cash, and then issue Tabcorp’s current shareholders with BetMakers shares to a value of a further $3 billion (to be determined when a deal was signed).
With roughly 1 billion shares on issue, Betmakers in Friday’s release gave the example of it having to issue another 1.8 billion to reach the mooted valuation.
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With BET shares some 28% lower, it would have to issue some 2.3 billion to achieve the same $3 billion transfer.

- gunna or goner?
 
What are people thinking about Betmakers, I have a good feeling about it based on what seems to be a consistent growth in earnings while operating with no pending debt (from what I have read) as well as the legalisation of fixed odds horse betting in New Jersey. Thinking that this could cause a snow ball effect on other states legalising fixed odds gambling. Will definitely be something I keep a close eye on over the next few weeks.

Curious to see what people are thinking about this stock in its current position.
 
Apologies for my naivety but I am curious to know why the owners of companies such as ladbrokes, neds wouldn't want to acquire a company like this, maybe they do i'm not sure just curious to know what peoples opinions are.
 
BET - first fixed odds race to be placed in November, AGM should outline the rest of the unknowns. Gambling is contagious with the racing scene in the USA dying without fixed odds every other state will follow.

BET will make a strong recovery in my opinion over the next month.
 
I am an extremely novice chart reader, literally first started researching charts in the last couple of days, so please don't scathe me if I am completely wrong just getting the hang of it and learning.

But from what I see BET has two clear resistance areas of around the 1.27 mark and 1.42 and of course at its last all time high at 1.65. While also having extremely strong support at the 1.00 mark. It has also been trading on fairly low volume since the 17th of September. Please correct me if I am wrong I believe it is building momentum at the moment ready for a breakout, low volume, possible accumulation coming soon? If I have completely miss understood this please let me know

Again only learning charting so any helpful feedback or anything you guys spot let me know!

1635673935152.png
 
@BossMan. Well, you picked one heck of a chart to practice on. There is a lot to notice on this chart.

Resistance lines: I agree on the top two and suggest you move the 1.27 line to 1.30. Whole numbers make stronger resistance and there's two highs to support it.

Your comments indicate that you're bullish on BET and perhaps looking for a long trade setup based on the price chart so that you can evaluate the risk:reward. You haven't mentioned whether this trade is a short term (grab some money and exit) or an entry to a medium term trade. I have to address both options.

For a short term trade you can place more emphasis on the shorter term price structures like you have. If you were thinking about buying the BO>1.30 then you may anticipate some resistance at 1.42 and then 1.65. Are these possible rewards large enough for the downside exposure (risk) that you start with? Only you can judge that. If you're considering a iSL at 1.10, that's 0.20 of risk so you need at least 0.30 of possible reward to make it worth your initial risk. There's just enough room if price rallies to your top R level.

If you're considering a medium term trade because you think BET looks good over the next few months then you may choose a slightly wider initial SL (initial risk) because you don't want to sell based on some unexpected price volatility (random up/down movement). Starting a trade with a wider risk means the potential reward has to be much larger as well. Price will have to go much higher than your top R line to make it worth while.

If you're considering a medium term trade you must look at the bigger picture to evaluate what's happening. I use weekly charts for this. The weekly chart show that price has been trading in a large range and is in a smaller range within the larger range. The large range is marked by the high in May and the low in July. The smaller range is marked by the high in Sept and the low in late Sept. Can you see this?

Now, notice that the second high is lower than the first AND the second low is higher than the first. This is an important observation. What appears when we draw sloping lines connecting these two highs and two lows? If you do it correctly you'll see a huge symmetrical triangle. Price is being compressed as the triangle tightens. This is good. Compression will force price to move quickly when it does break out. However, price can break either up or down. Price can also trade sideways and bust the triangle pattern.

It always comes back to a risk: reward scenario. If price break higher from here it could be the start of a much larger rally that easily makes a new all time high. Good for a medium trade and fantastic for a short term trade also (if you can hang it there).

I could go on and on about this chart. It's that good. However we should be looking for chart with fewer possible directions, much higher probability than 50:50 and better R:R potential.

bet3110.PNG
 
peter2 said:
@BossMan. Well, you picked one heck of a chart to practice on. There is a lot to notice on this chart.

Resistance lines: I agree on the top two and suggest you move the 1.27 line to 1.30. Whole numbers make stronger resistance and there's two highs to support it.

Your comments indicate that you're bullish on BET and perhaps looking for a long trade setup based on the price chart so that you can evaluate the risk:reward. You haven't mentioned whether this trade is a short term (grab some money and exit) or an entry to a medium term trade. I have to address both options.

For a short term trade you can place more emphasis on the shorter term price structures like you have. If you were thinking about buying the BO>1.30 then you may anticipate some resistance at 1.42 and then 1.65. Are these possible rewards large enough for the downside exposure (risk) that you start with? Only you can judge that. If you're considering a iSL at 1.10, that's 0.20 of risk so you need at least 0.30 of possible reward to make it worth your initial risk. There's just enough room if price rallies to your top R level.

If you're considering a medium term trade because you think BET looks good over the next few months then you may choose a slightly wider initial SL (initial risk) because you don't want to sell based on some unexpected price volatility (random up/down movement). Starting a trade with a wider risk means the potential reward has to be much larger as well. Price will have to go much higher than your top R line to make it worth while.

If you're considering a medium term trade you must look at the bigger picture to evaluate what's happening. I use weekly charts for this. The weekly chart show that price has been trading in a large range and is in a smaller range within the larger range. The large range is marked by the high in May and the low in July. The smaller range is marked by the high in Sept and the low in late Sept. Can you see this?

Now, notice that the second high is lower than the first AND the second low is higher than the first. This is an important observation. What appears when we draw sloping lines connecting these two highs and two lows? If you do it correctly you'll see a huge symmetrical triangle. Price is being compressed as the triangle tightens. This is good. Compression will force price to move quickly when it does break out. However, price can break either up or down. Price can also trade sideways and bust the triangle pattern.

It always comes back to a risk: reward scenario. If price break higher from here it could be the start of a much larger rally that easily makes a new all time high. Good for a medium trade and fantastic for a short term trade also (if you can hang it there).

I could go on and on about this chart. It's that good. However we should be looking for chart with fewer possible directions, much higher probability than 50:50 and better R:R potential.

View attachment 132160
Click to expand...
Wow, thanks so much for the response, lots to learn clearly, didn't know about the triangle concept so thats a huge help as well. This is probably one of my stupider questions, but what are the blue boxes representing in your charts? Thanks again for your in detail response, already learnt heaps more then I did earlier today!
 
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