BET Discussion 2022

[RHINO]

And loss of $6mill .. should have been the quarter that a positive cash flow was posted

What's frustrating is they seem to be completely clueless.
The buyback was supposed to put a floor on the price and reverse the shorting trend.
Its done the complete opposite!
The rules about when you can or cant buy back are nothing new, everyone knew the rules but it looks like our blokes were wagging school that day.
Its going to be interesting to see how they approach buyback version 2 ,the more they buyback, the more they shave of their life expectancy without a CR
Something has to pop soon or we are going to be playing in the 20s.
Bottom drawer for these fellas!

 

[Ibetfixed]

What's frustrating is they seem to be completely clueless.
The buyback was supposed to put a floor on the price and reverse the shorting trend.
Its done the complete opposite!
The rules about when you can or cant buy back are nothing new, everyone knew the rules but it looks like our blokes were wagging school that day.
Its going to be interesting to see how they approach buyback version 2 ,the more they buyback, the more they shave of their life expectancy without a CR
Something has to pop soon or we are going to be playing in the 20s.
Bottom drawer for these fellas!

Yes .. and they said that the buy back was possible due to “improved cash flow projections “ … well I don’t call a loss for the quarter of $6mill .. an improving cashflow position.

 

[RHINO]

Yes .. and they said that the buy back was possible due to “improved cash flow projections “ … well I don’t call a loss for the quarter of $6mill .. an improving cashflow position.

 

[RHINO]

Are we expecting anything new anytime soon????
The supposed game changer announcements of BETR ,WA TAB and USA FIXED ODDS have all been fizzers?
Do we have anything coming down the pipe? Anything at all??
If they just tread water, you don't have to be a rocket scientist to work out a cash burn of $6 mill per qtr means they are going to be down at Centrelink come Quarter 1 2024 if not sooner. Maybe not the guys with the bonuses.
I suppose the only good thing of today's price crash is the buyback will be a cheaper buy in.
Getting into bed with Tripp has turned out to be an absolute car crash.
First the TAB fiasco followed by the WA TAB fiasco!
If you saw this guy at your front door, you would turn off the lights and hide under the bed

 

[This is Anfield]

Are we expecting anything new anytime soon????
The supposed game changer announcements of BETR ,WA TAB and USA FIXED ODDS have all been fizzers?
Do we have anything coming down the pipe? Anything at all??
If they just tread water, you don't have to be a rocket scientist to work out a cash burn of $6 mill per qtr means they are going to be down at Centrelink come Quarter 1 2024 if not sooner. Maybe not the guys with the bonuses.
I suppose the only good thing of today's price crash is the buyback will be a cheaper buy in.
Getting into bed with Tripp has turned out to be an absolute car crash.
First the TAB fiasco followed by the WA TAB fiasco!
If you saw this guy at your front door, you would turn off the lights and hide under the bed

Rhino it's a bloody frustrating stock for sure. The fundamentals look good but the execution seems to be poor. As Ibetfixed said the buy back was possible due to improved cash flow projections well looking at the figures that just don't add up. If we keep going down the path we are on well it ain't gunna be pretty as you say. I remember Granny saying Todd and Jake etc were terrific people that may be the case but are they the people to lead us forward. I don't know. What about the hotshot exec we appointed in the U.S what has he/she brought to the table. We just seem to be full of promises but nothing eventuates. As for TW well it appears he may have more of his father in him than his mum. Anyway Rhino let's hope there is something in the pipeline because this gets worse everyday.

 

[Ibetfixed]

I picked up the $1K on Gold Trip thanks to Betr…..as well as the $210 for Anamoe……I have Penrith in the NRL, Geelong in the AFL, Brazil in the World Cup and Boston Celtics in the NBA…….everyone see Todd jumping around when Gold Trip won the Melbourne Cup?

How the team behind bookie Betr won the Melbourne Cup twice

Few people had more riding on the race than bookmakers Matthew Tripp and Todd Buckingham. Both emerged triumphant – in very different ways.

www.afr.com

Well done on gold trip ..there wouldn’t have been many have it as their $10 bet .

I few of those other choices you have aren’t offering the 100 to 1 odds ie Panthers … who I would have picked .. so went the roosters instead … got the Sydney swans , LA Clippers and Spain

 

[Lattelarry]

I picked up the $1K on Gold Trip thanks to Betr…..as well as the $210 for Anamoe……I have Penrith in the NRL, Geelong in the AFL, Brazil in the World Cup and Boston Celtics in the NBA…….everyone see Todd jumping around when Gold Trip won the Melbourne Cup?

How the team behind bookie Betr won the Melbourne Cup twice

Few people had more riding on the race than bookmakers Matthew Tripp and Todd Buckingham. Both emerged triumphant – in very different ways.

www.afr.com

I think we should see some director (Todd) buying with his winnings!

 

[Bloodstock Racing]

Latest research out from RAAS

 

[TeddyFiles]

Where to from here team. We just hover in the 20’s until we can put a few cash flow positive quarters together? Assuming they can actually do this.

Buy back has halted again but was having little to no effect so they might as well just abandon it until they have some knowledge they may have that would cause a move north. Otherwise they are just buying at higher than where it is likely to be next year.

 

[fbbandco]

This stock has run out of puff!

Amazing news still doesn't see this stock move north.......My question is how will this share price move north?? I cant see it........

 

[RHINO]

Unless they have something up their sleeve , I cant see this going north anytime soon.

There is a business theory out there that refers to where we are now, its called the The Peter principle.
" a concept in management developed by Laurence J. Peter, which observes that people in a hierarchy tend to rise to "a level of respective incompetence": employees are promoted based on their success in previous jobs until they reach a level at which they are no longer competent, as skills in one job do not necessarily translate to another."

I think BET may have a bit of this going on. Out of their depth comes to mind.

Buyback fiasco aside, just look at the other supposed game changers they were banging on about;

WA TAB Bid .....a big fat zero

BETR ???? Jury still out on this one ,need to wait for the next quarter to see if we are actually making anything here.

New Jersey fixed odds. Well enough said here. The reality is they have 6 or so fixed odds windows at Monmouth Park race track.

For those who think, that's a big deal ,think Kembla Grange or Wyong as being our equivalent to Monmouth.

Forget about the maybe, could be ,should be ,tie up with the only track in Colorado. That one is equivalent to Scone !!!

To be fair ,the size of the tracks shouldn't matter . When we bet, we don't really care about the track, only the bet.

The problem we have is we don't have an App to bet on! Why ? Because the legislation to get such a thing up and running is simply way too complicated and with way too many vested interests.

So what is the outlook going forward?

I'm hoping one of you guys can add some positives here and cheer me up.

Going on the last quarterly, they have a cash burn of 6 million dollars.

Rough figures, if they simply do nothing they will need a CR in about 10 quarters . Even less if they keep buying back shares.

What may save us is the extra revenue from the BETR deal but ,that will only cover the losses and at best bring us to a break even scenario.

Hang on,,,did someone mention Matt Tripp??? Hasn't he delayed getting his $15 million or whatever it is , for a couple of years???

Hasn't Tripp been a find for us!!!! An absolute peach.

I heard Todd Buckingham,who's in the ownership of Melbourne Cup winner Gold Trip,was seen celebrating his winnings with Tripp at his Coda restaurant in Melbourne.

Would have loved to be a fly on the wall for that one.

Oh what fun it is to be a retail investor!

 

[TeddyFiles]

Unless they have something up their sleeve , I cant see this going north anytime soon.

There is a business theory out there that refers to where we are now, its called the The Peter principle.
" a concept in management developed by Laurence J. Peter, which observes that people in a hierarchy tend to rise to "a level of respective incompetence": employees are promoted based on their success in previous jobs until they reach a level at which they are no longer competent, as skills in one job do not necessarily translate to another."

I think BET may have a bit of this going on. Out of their depth comes to mind.

Buyback fiasco aside, just look at the other supposed game changers they were banging on about;

WA TAB Bid .....a big fat zero

BETR ???? Jury still out on this one ,need to wait for the next quarter to see if we are actually making anything here.

New Jersey fixed odds. Well enough said here. The reality is they have 6 or so fixed odds windows at Monmouth Park race track.

For those who think, that's a big deal ,think Kembla Grange or Wyong as being our equivalent to Monmouth.

Forget about the maybe, could be ,should be ,tie up with the only track in Colorado. That one is equivalent to Scone !!!

To be fair ,the size of the tracks shouldn't matter . When we bet, we don't really care about the track, only the bet.

The problem we have is we don't have an App to bet on! Why ? Because the legislation to get such a thing up and running is simply way too complicated and with way too many vested interests.

So what is the outlook going forward?

I'm hoping one of you guys can add some positives here and cheer me up.

Going on the last quarterly, they have a cash burn of 6 million dollars.

Rough figures, if they simply do nothing they will need a CR in about 10 quarters . Even less if they keep buying back shares.

What may save us is the extra revenue from the BETR deal but ,that will only cover the losses and at best bring us to a break even scenario.

Hang on,,,did someone mention Matt Tripp??? Hasn't he delayed getting his $15 million or whatever it is , for a couple of years???

Hasn't Tripp been a find for us!!!! An absolute peach.

I heard Todd Buckingham,who's in the ownership of Melbourne Cup winner Gold Trip,was seen celebrating his winnings with Tripp at his Coda restaurant in Melbourne.

Would have loved to be a fly on the wall for that one.

Oh what fun it is to be a retail investor!

I was in Melb for the BetR launch lunch and hosted by them at the Cup and although the website was a little glitchy it has made a big splash.

They have the ingredients to be the biggest player in the market and if they were to go international and take BET along it could be a game changer.

Hoping we get the max earnings from BetR to push things along.

US was why I got in and yes been a horrible entry into that market.

I’m not rushing but will look to double holdings to average down again. Not sure we will be at the bottom for some time. Shorts won’t rest until they have nothing left to sell into the market and why wouldn’t they. Zero resistance.

 

[maggies22]

Another dirty day team .... gee the AGM is going to be fun. Whoever is running the buy-back needs to be sacked.

I tend to agree with you Teddy ... apart from the slightly glitchy app ... betr launch has been a huge success. And do we think Trippy actually laid off DL??? Or hes just a marketing whizz. Any publicity is good publicity....

Their investor deck says aim to be a Tier 1 site by start of AFL season ... so lets see if BET can deliver on that one.

Going back to the Qtr Op Loss of $5.9m .... take out $2.8m bonuses ....$0.9m insurance ... and $1m contractors (with no Betr revenue) ... I'd think Qtr's should be +tve cash flow sometime this FY.

 

[RHINO]

I agree, I can only see the expected revenue from BETR as our only live bet.
Not too many rabbits running around that want to be pulled out of Todd's hat for now so lets hope for a big BETR return!
I plan to average down as well, for what its worth ,the close has broken through the bottom Bollinger Band which is an oversold indicator and a buy signal .
Good luck punters!

 

[TeddyFiles]

I just rely on reading the forum for the things in the quarterly reports. Anything not narrated in Morgan Freeman’s voice struggles to hold my interest.

Was there any report on the Norway and Royal Camel track that came on board? Do these all fold into the global tote pool?

 

[MICHAEL]

I note that Todd indicated that Betr have opened about 300,000 accounts, we would assume that this should be positive for future BET revenue.

I also note the incentives offered by Betr and that the BET Annual Fee is based on a revenue sharing arrangement starting with the net gaming revenue.

Is it likely that these incentives will be a drag on the actual revenue received from Betr for the next 12 months?

I also note that when the Betr/BET deal was announced 21/4/2022, mentioned was made of a 'go live date' within six months. As this has been achieved successfully and with a huge number of accounts, I suggest that this should bode well for future opportunities in this field for BET.

 

[TeddyFiles]

https://www.gamblinginsider.com/news/19355/betmakers-agrees-new-malaysia-partnership-with-selangor-turf-club

From over on HotFlogger.

They just keep doing deals. Lot of money in KL racing.

 

[Uraniborg]

Not sure it belongs in this thread, but you might find this article interesting, which attempts to outline Flutter’s strategy to expand Fanduel’s US marketshare using Sportsbet learnings.

https://montaka.com/flutter-replicating-sportsbets-success/

 

[ScottBET]

https://global.racing/betmakers-launches-fixed-odds-betting-at-caymanas-park-in-jamaica/
Looks like things are progressing in Jamaica- on track, outlets then online- same formula for new jersey.

 

[Uraniborg]

https://global.racing/betmakers-launches-fixed-odds-betting-at-caymanas-park-in-jamaica/
Looks like things are progressing in Jamaica- on track, outlets then online- same formula for new jersey.

Nice one, seems encouraging. It’ll be good to see BET finally make the leap from on-track to app-based fixed odds in either New Jersey or Jamaica to validate their roll out approach.