BET Discussion 2022

[MikeGTR]

So does BET 100% own the website .. monmouthsbets.com?? Ie all profits from betting on the website go to BET ???

That's a good question to ask at the 4:30pm webinar.

 

[Ibetfixed]

That's a good question to ask at the 4:30pm webinar.

Are you listening in? If so Can you ask … as I won’t be able to tune in

 

[Lattelarry]

The figures confirm to me that the company is providing in-depth detail to RaaS (Research as a Service) for their updated reports…..the 6th June update is closer to any of our guesstimates……..even though BET pays RaaS for this service it appears that it is a legitimate forecast of potential Revenues…..search the link for BET ‘Updates’ and ‘Flash Comments’

RAAS Research - RAAS GROUP

Finola Burke 31/05/2023 Research RAAS GROUP The independent investment research house for small and micro-cap companies.

www.raasgroup.com

Yeah they do seem pretty accurate. I'm looking at the July report.

If FO kicks off soon online and they can keep signing agreements (and I don't see why they wouldn't) then I would hope FY23 might be underestimated.

Pretty happy with the SP performance today - I'd rather it not get pumped and dumped. A slow steady build is more preferable.

 

[Ibetfixed]

Are you listening in? If so Can you ask … as I won’t be able to tune in

I got the answer from the webinar … the website is owned by Monmouth park … so they are the bookmaker for alll the online bets and BET drive the technology and clip the ticket on turnover … still great all round
Can see full year 2023 exceeding $150mill .. as a minimum … should be up to $300mill in 2024 .. and be banking over $150mill profit

 

[RHINO]

If they actually buy!

Interesting trading this morning.
The buy/sell totals haven't been this close since we started our climb on 13th July.
Keeping the highs just below or on the upper Bolinger is working a treat.
The only couple of times it broke through the band,it quickly settled back by end of trade
This is what you want to see.
I must admit I'm baffled as to why the shorts aren't closing.
It's a real stare down game at the moment.
You feel if we can maintain the daily close above fib at 50 5 then we should be tracking towards the next fib at .635.
Something has to give soon,we have Spring Carnival about to happen,Todd said the tech is ready to launch for fox betas soon as they say go,which will be for the Soring Races.
You have Monmouth bets online this weekend and a handful of domestic new books about to launch in Australia before Xmas using Bet tech.
I can't see how the big short players,not the small time followers,can justify their strategy given what's about to happen.
Line in the sand stuff today playing out.

 

[Lattelarry]

Interesting trading this morning.
The buy/sell totals haven't been this close since we started our climb on 13th July.
Keeping the highs just below or on the upper Bolinger is working a treat.
The only couple of times it broke through the band,it quickly settled back by end of trade
This is what you want to see.
I must admit I'm baffled as to why the shorts aren't closing.
It's a real stare down game at the moment.
You feel if we can maintain the daily close above fib at 50 5 then we should be tracking towards the next fib at .635.
Something has to give soon,we have Spring Carnival about to happen,Todd said the tech is ready to launch for fox betas soon as they say go,which will be for the Soring Races.
You have Monmouth bets online this weekend and a handful of domestic new books about to launch in Australia before Xmas using Bet tech.
I can't see how the big short players,not the small time followers,can justify their strategy given what's about to happen.
Line in the sand stuff today playing out.

Yeah good points. I think we are also going to have a lot of news in the next 6 months. I suspect once monmouthbets.com goes live the other bookies that are watching it will want their sites/apps up fairly soon too. Plus it just seems like there are so many other things on the boil. As they said they have been doing a lot of the ground work so there should be lots of announcements.

I'm beginning to wonder how many of the shorts are simply borrowed and not sold and thus can be returned or can be sold when the SP jumps.

 

[RHINO]

Yeah good points. I think we are also going to have a lot of news in the next 6 months. I suspect once monmouthbets.com goes live the other bookies that are watching it will want their sites/apps up fairly soon too. Plus it just seems like there are so many other things on the boil. As they said they have been doing a lot of the ground work so there should be lots of announcements.

I'm beginning to wonder how many of the shorts are simply borrowed and not sold and thus can be returned or can be sold when the SP jumps.

By the sort of action today,I think one of the shorters,most probably a fund,has taken this personally and turning this into a pissing contest!!!!
Doubt its Mac,they are too business like to take this personally.
Interesting how this plays out.
It's obvious that Bet is happy to take him on at 49 and let the market take up the slack .
Let's see how many bullets are left in his chamber.
I would be pissed having my money with him if this is his attack plan

 

[Lattelarry]

By the sort of action today,I think one of the shorters,most probably a fund,has taken this personally and turning this into a pissing contest!!!!
Doubt its Mac,they are too business like to take this personally.
Interesting how this plays out.
It's obvious that Bet is happy to take him on at 49 and let the market take up the slack .
Let's see how many bullets are left in his chamber.
I would be pissed having my money with him if this is his attack plan

I don't really see the point in fighting a buyback either.
Surely there are a lot of other companies that are doing pretty badly and not growing quickly like BET - why would you short the one that is on the rise when you could short ones that are being mismanaged.
Will be interesting to see if we get a late afternoon run again.

 

[TeddyFiles]

By the sort of action today,I think one of the shorters,most probably a fund,has taken this personally and turning this into a pissing contest!!!!
Doubt its Mac,they are too business like to take this personally.
Interesting how this plays out.
It's obvious that Bet is happy to take him on at 49 and let the market take up the slack .
Let's see how many bullets are left in his chamber.
I would be pissed having my money with him if this is his attack plan

Was thinking the exact same thing. They have fired plenty of bullets today. All we need is a break even day like what has been happening last few closes and it’s all for naught. Love when people gamble with money and make it personal.

 

[RHINO]

Was thinking the exact same thing. They have fired plenty of bullets today. All we need is a break even day like what has been happening last few closes and it’s all for naught. Love when people gamble with money and make it personal.

I'm trying to swap places with the shorter and trying to understand the strategy.
Ok ,we know BET is allowed to go to 10% of issued shares right?
So ball park figure around 80 million they can buy back.
Also we know they can't push past the VWAP which at the moment is tracking around 50
It looks like BET is happy to support at these levels.
So back to my shorter,he knows 49-50 is support
He knows BET management sees value at these levels,because Tod actually told us this in the webinar.
So my only conclusion is this fund ,or funds working in tandem,have decided to throw all at it until they have soaked up the 80 million share dyke,and once that falls, it's happy days.
Based on daily turnover that's only about 10 or so trading days if BET is buying all the shares,which they are not.
So how many shares have they been buying???
I haven't kept a count but let's say it's 10% of the turnover
That means we have another 100 days in which we can support
The end game here is how many borrowed shares do these guys have and is it enough to break the dyke or not???
On BET side ,they need to be confident that the news over the next 100 days gives the SP its own propulsion without the turbo blast of the buyback
Time will tell but fascinating to see who blinks first.
As a side comment, interesting to see how they let it go in morning,then pullbacks, then back up in last hour,,,fascinating
My money is on BET

 

[Lattelarry]

I'm trying to swap places with the shorter and trying to understand the strategy.
Ok ,we know BET is allowed to go to 10% of issued shares right?
So ball park figure around 80 million they can buy back.
Also we know they can't push past the VWAP which at the moment is tracking around 50
It looks like BET is happy to support at these levels.
So back to my shorter,he knows 49-50 is support
He knows BET management sees value at these levels,because Tod actually told us this in the webinar.
So my only conclusion is this fund ,or funds working in tandem,have decided to throw all at it until they have soaked up the 80 million share dyke,and once that falls, it's happy days.
Based on daily turnover that's only about 10 or so trading days if BET is buying all the shares,which they are not.
So how many shares have they been buying???
I haven't kept a count but let's say it's 10% of the turnover
That means we have another 100 days in which we can support
The end game here is how many borrowed shares do these guys have and is it enough to break the dyke or not???
On BET side ,they need to be confident that the news over the next 100 days gives the SP its own propulsion without the turbo blast of the buyback
Time will tell but fascinating to see who blinks first.
As a side comment, interesting to see how they let it go in morning,then pullbacks, then back up in last hour,,,fascinating
My money is on BET

BET have bought 1,572,022

 

[Lattelarry]

Bet have spent $604,981.09 (not including brokerage) for the 1,572,022 shares at an average buy price of .3848 cents

Good point - ill add it to my spreadsheet

 

[RHINO]

Hey Rhino, can you post a fib chart for us?….I haven’t really got the hang of them yet.

 

[RHINO]

View attachment 12685

I've used the major downtrend from the 21st April when we were 83.5 and dragged the retracement down to the low point of .30 on the 23rd June.
The .38 fib is around the .505 ,which we have pierced on a couple of occasions but without any real conviction.
Mind you a buy back is not really normal market forces, so you need to read all with a grain of salt.
If we can maintain this level or above over the next trading days then we should go from resistance to support at this level and next elevator stop is at resistance at .618 fib, which is more true fib line.
Only my take on it but it seems to work with me.
I like to use the usual indicators of Moving Averages, Candles and Bollinger Bands along with RSI and MACD.
But again I stress, shorters and buy backs do throw some curve balls in all of this.
So far it pays the bills.

 

[RHINO]

Using weekly charts ,or even monthly ,will smooth the noise out but you need patience.

 

[RHINO]

Are Fib charts used for longer periods as per below?…..or is this a stretch?

View attachment 12703 If i understand your question correctly, longer time spans when applying fibs or any other indicators, can reduce the amount of ‘noise’, often providing a more holistic view of the way the share is performing.
However, applying fibs over shorter terms helps me with providing more of an overview of the current trend and short-term dynamics, which is what i use for seeking potential entry and exit points.
Best to play around and even back test to see if you're on the right track.
You tube has some great tutorials to help you with understanding indicators.

 

[Lattelarry]

By my basic calcs….we should be up to .51 buy limit

View attachment 12684

Are you getting the BET buyback data from the announcements?

I would love to find somewhere that publishes it as csv or json etc so this part could be automated - but I don't know if that exists anywhere?

 

[Just Westy]

@Just Westy are you back in?………..you know what they say…..”if you fall off a horse, you have to get straight back on”

Yes .... I bailed at .37 and bought back in at .36 and actually bought more today at .49 once I saw the buyback initiated, Lithium is doing well so can wait for this to unfold now.

 

[Lattelarry]

No, just data from my trading platform that i enter manually into my spreadsheet and i use formulas to calculate the 5 day average + 5% increase on that average…..its not exact but it is close enough for my purpose………I used the buyback info from the announcemen.

In the next week or two I'll try and see if there's a way to automate it - as I'm sure it will come in handy for similar situations in the future.
Should be able to do a text search on the pdf and extract the key parts...

 

[comin2getme]

In the next week or two I'll try and see if there's a way to automate it - as I'm sure it will come in handy for similar situations in the future.
Should be able to do a text search on the pdf and extract the key parts...

There is a way to insert website data into excel using web address function... google how to, but it can be done easily.