This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

BET - Betmakers Technology Group

Jump to new
The blue boxes in my charts are rectangular price ranges based on a concept popularised by a ballroom dancer, Nicholas Darvas. They're called Darvas boxes after him.

One can create a profitable trading plan buying the break-outs of these boxes in a trending market.
 
The last line from the CEO's address to the recent AGM says:
We are aligned as a company with a clear vision and coherent action plans. And we are excited.
Click to expand...

That's what Big Kev said, too, and look what happened to him ...

KH
 
Hey @BossMan. Chanced upon the chart of BET again this evening. Remember our last discussion where I mentioned that price was being compressed into the pointy end of a triangle. The trading plan was to wait for price to break through the top line before considering a buy. Buying before the BO was a 50:50 gamble and it's not something I do. I wait for the probability of success to shift in my favour.

Well, it looks like price did BO but it was through the low side. Tried to get back into the triangle but failed to hold and has fallen much lower.

This is how a trading plan based on chart patterns work. We know what we want to see and wait for it to form before we commit our capital.

Trading with a plan, That's exciting!
 
Been watching BET for a while now. looks to be about where one would want to buy it, if you like it.
 
Yeah, late response only saw the notification now, still learning and hope you had a good Christmas day!

Upon reading this, I did open a position prior at $1.02 then again at $0.90 thinking that the support at $1.00 wouldnt break then again the 0.85 - 0.90 would hold and I dont mind buying at a 4% or so premium to ensure I don't miss it (on the second support). This might be my naivity I am relatively new to trading really enjoying learning the ropes. However, I don't mind the price floating around I definitely see this as a long term position hope im not breaking the rules talking about positions if I am let me know.

I have attached a chart with the support that I thought it would sit at, keen to learn so if theres anything you saw that you think would of enabled me to predict or anticipate a further fall I would love to hear

Also I didn't anticipate such a high percentage of shorts almost 7% (as of 20th of december) eeeek, gotta wonder if its a institution trying to hold it down to accumulate? Or if they are just shorting at such a rate due to their being little news outside of the announcement that came out two days ago.
 

Attachments

  • Screen Shot 2021-12-25 at 11.55.40 pm.png
    75.6 KB · Views: 11
I missed the bottom on this one last time, note to self - avoid a falling knife.

If it drops further from here I would be shocked. A decent quarterly came out last week, dont see a lot wrong with it. Maybe this is more of a long term hold. Fixed odds to 100% start in march, lets hope this isn't fodder again and it actually does kick off.

But this is my pick for the month

 
Someone thats good at TA spot the bottom, hahahah It just seems to keep on falling, I have missed it twice. I understand theres a high short position on it but wondering if any TA people can see any other patterns occurring?
 
BET getting absolutely ruined today, down around 16.67% to 32.5c. Some of the air continuing to come out of this one after a huge run up between 2019 and 2021. Gotta admit I'm surprised at how far it has fallen in the last 12 months.
 
My monthly stock pick, bring on spring racing haha, sports betting and online betting is at a tipping point in the USA im really starting to see the entire industry grow exponentially.

Spring racing in Australia brings further revenue, my numbers may be wrong but an increase to about a 72% gross margin (from memory*) I think its suffered enough pain. Share buyback should recommence over the next few days just in time for september!
 
Most shorted stock on the asx and a negative reaction to the results (rightfully so) but has moved in to a position where I see it being undervalued expect to see a bounce over the next few weeks back in to the mid 0.30's
 
Thinking we have seen the bottom so should bounce this year if and when they get their costs under control. Looking for them to go cash flow positive mid year. Good luck in2023
 
Als2own said:
Thinking we have seen the bottom so should bounce this year if and when they get their costs under control. Looking for them to go cash flow positive mid year. Good luck in2023
Click to expand...
I noticed a couple of picks for this company. It's always harder than it looks, government regulations, powerful competitors, targeted by crime figures and dodgy punters, online attacks.
Looks like it' has bottomed and becoming eps positive if it works out.
Maybe a good year.
 
Balance sheet looks like they will become profitable in the next 6 months, biggest liability out of last quarter was a result of huge employee incentives. This drops off it brings them a lot closer to their target. Melbourne Cup was also the biggest recorded online horse betting event, with it netting substantial income.
 
“I HAVE SENT OUT THOUSANDS OF EMAILS AND POST’S ABOUT THIS STOCK.”

“BET IS ONE OF THE MOST SHORTED STOCKS ON THE ENTIRE ASX!!!”

“GET OUT NOW, BEFORE IT HITS ZERO!!!”



Betmakers Technology Group Ltd rapid expansion is beyond a joke, increasing revenue buy 9% and still posting a $5 million dollar loss? And what’s with the CEO Todd Buckingham giving his mate Mathew Trip $15 million dollars??? This defies belief!!! No wonder there is an investigation into Todd Buckingham fraudulent behaviour!!!

Todd Buckingham and his mates are raking in millions while Betmakers is going down the toilet!!!

With 2 banks collapsing in the US, interest rates going through the roof and a recession just around the corner. We are in for some pretty tough times.



This terribly managed company has no P/E ratio, and no dividend. With HUGE losses, bad press, recent fraud allegations and uncertain times. I see very little risk in shorting such a **** stock.



“AT .15 CENTS A SHARE AND HEADING TO ZERO!!!!”

“I SEE BETMAKERS DROPING TO .07 CENTS A SHARE VERY SOON!!!!”
 
but , but BET is like many tech stocks ( apart maybe for the directors salaries , but i doubt even that is unique )
the theme seems to be 'if you can't make a profit , expand more and/or acquire more '

if the credit crunch becomes 'official ' plenty of companies are going to zero ( both big and small )
 
tech/a said:
Why multiple posts ? Why is this so important to you?

Its not compulsory to trade any stock.
Click to expand...
Just a ramp/push on short position, obviously straight to ignore.. does not mean I see bet as great bullish stock but let's not become hot copper?
One post here with reasons plenty enough imho
 
Betmakers quarterly results will be really interesting, if the company is not at a point of profitability/extremely close ill be washing my hands of this stock, the movements have been crazy.

I do quite honestly see there being some decent revenue generated off the back of BetR's merger with BlueBet, especially regarding the customer migration, stuff like this never goes to plan and migrating to a completely different inhouse BlueBet system will undoubtedly bring substantial technological challenges and hopefully delays.

Additionally it sounds like this will enable Betmakers to further reduce there cost base relating to BetR, based on the announcement it appears substantial resources were dedicated to the maintenance of BetR/Development with a pretty minimal return, hopefully we see the good staff retained and the deadweight cut to further reduce the cost base and see a profit for the first time in Betmakers history.

This quarterly is going to cause turbulence and is undoubtedly the big test for Jake Henson and the change he has promised to bring to Betmakers. Lets hope for a profit or very close to it.

 
up 30% in the last five trading days. I expect extremely strong quarterly results and a continued rally as we approach the quarterly.

If the quarterly results are not positive - it will undoubtedly crash to < 0.08 a share.

Long term outlook is ok, all though it will be interesting to see what will happen to revenue as credit card deposits are banned on online bookmakers. Will also be interested to see if AUSTRAC looks to introduce tougher monitoring regulations as a part of the second tranche of there AML/CTF policies, similar to regulation in other sectors I expect the gambling sector to eventually be hamstrung by regulatory changes coming at them from all angles...

Another positive off the back of the BetR deal collapsing, in a bleaker gambling market in Australia is more service fee based arrangements, less skin in the game relating to turnover in the gambling sector. The profits off the back of the BetR deal would of been marginal given it was a revenue share agreement.

I have no doubt the gambling sector is going to substantially contract over the next few years as we see heavier handed regulation, and a social movement against online gambling in general following all time highs in covid.
 
You must log in or register to reply here.
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...