BET Discussion 2022

[Just Westy]

Looks like shorts have realised they can’t get the SP under 50 as they went hard with 115m shorts out there and are now closing out. With the shares tightly held this is going to cost them as top 20 won’t sell and the remaining I’d be surprised they will sell knowing shorts starting to close - 4 days ago 900k closed out and price increased 3c - 100M to go - looking at today think the shorts could be worried and great. Hoping this is the run over next few weeks and get back above that $1 and further

Only 134,271 short sold yesterday.

https://www.asx.com.au/data/shortsell.txt

 

[Lattelarry]

It will be interesting to see how many closed today

 

[TheBigDance]

It will be interesting to see how many closed today

data from yesterday

thats both buy and sell. Say all is buy back - 6c increase for 600K - im trying to work out how they are going to get out of this with still well over 100M to buy back? The BIGGEST short squeeze

 

[Just Westy]

data from yesterday
View attachment 2778

thats both buy and sell. Say all is buy back - 6c increase for 600K - im trying to work out how they are going to get out of this with still well over 100M to buy back? The BIGGEST short squeeze

Lets make a point of checking next Wednesday and correlating the total shorts.

If they short sold 604k shares and whales still outbought them for a 10% increase in SP they have a problem.

Some broker info would be nice.

 

[TheBigDance]

anyone know whats happening inside BET. I was expecting March to be a big month of announcements due to Dennis Drazins open letter to the industry in January they will be launching fixed odds in March. From last presentation Betmakers said its a soft launch to test the technology. Anyone know if this has started or having any IT issues? I would have thought they would have other bookies signed up by now too but March has been non-existant with any news whatsoever - volume way down too with shorts still trying to make a dollar which i cant see how they are now. With volume right down doesnt appear to be any announcements on the horison in short term

 

[Cameron]

I've Been away for 2 weeks nice to see we haven't really gone anywhere. Shorters are packing shit I head hence my return lol

 

[Lattelarry]

New job advertised - reporting to Martin Tripp - I'm guessing Matt Tripp's brother?

 

[Just Westy]

New job advertised - reporting to Martin Tripp - I'm guessing Matt Tripp's brother?

View attachment 3834

Where did you find that Larry ?

 

[Lattelarry]

LinkedIn

 

[Just Westy]

LinkedIn

Thanks mate just found it.

I like the executing the global products roadmap bit.

 

[Hume201]

Why do I have this strong feeling BET is about to explode.

The shorters have done the serious investors in bet a huge faviour, many of have indeed topped up and we all continue to use to harvest these bargain prices.

We all know what’s coming, brick by brick the BET team have hired, appointed very credible and valuable people, and indeed continuing to look for new talent. Strategic deals have been signed and delivered.

Patients will ‘hopefully” pay off as those are seriously informed can easily see that nothing is being rushed, especially on the legislative and regulations side of things.

What I particularly like is the patients of the BET team in making sure every i has a dot and every T is crossed.

Perfection breeds excellence, and I am excited to see how this all un folds

 

[Lattelarry]

Just had a look at how many price sensitive announcements we are getting per FY since these drive the SP quite a lot.
2019 had 27
2020 had 36
2021 had 19
2022 so far 19.

 

[Lattelarry]

I bet Tripp didn't expect to be down $5M after a year

 

[Lattelarry]

Over at the old place I had been wondering if there was something about to happen. Good to see what we have all suspected for a long time now out in the media!

 

[RHINO]

…below is the agreement with Tripp should he bring in a strategic or transformational deal……….I wonder if the BetR deal could be ”transformational“?…….it would have to increase our Revenue and EBITA by 100%!!!!

ANNEXURE A
The material terms of the contractor agreement between the Company and Tripp Investments Pty Ltd as trustee for the Tripp Investment Trust (Tripp) are set out below:
• Tripp will procure that Mr Tripp will provide introductions and recommendations to third parties to assist in the Company’s growth (Services).
• In consideration for the provision of the Services, the Company has agreed to issue to Tripp the following Advisor Equity, subject to obtaining all necessary shareholder and regulatory approvals and the entry into a voluntary escrow agreement in relation to the Advisor Equity:
o 35millionunquotedClassAPerformanceRightsonthefollowingkeyterms:
§ theClassAPerformanceRightswillvestupontheCompanycompletingaStrategicDealby 1 February 2023 (or such longer period where binding agreements are executed prior to 1 February 2023), provided that the contractor agreement is not terminated as at that date;
§ a‘StrategicDeal’isconsideredtobeabindingtransactionenteredintobytheCompany as a result of Mr Tripp’s introduction or with Mr Tripp’s reasonable assistance and which would increase the Company’s Revenues1 by more than 10% (compared with such metrics as at immediately prior to completion of the Strategic Deal and the business case for the transaction presented to the Board);
§ uponanindependent,qualifiedexpertconfirmingthatthevestingcriteriawassatisfied, each Class A Performance Right is convertible into one Share for nil consideration or the Company may, in its sole discretion, elect to pay Tripp an amount in cash equal to the Market Value2 of the shares underlying the Class A Performance Rights and cancel the Class A Performance Rights;
§ theClassAPerformanceRightswillexpire12monthsaftertheendofthevestingperiod; and
§ 33%oftheClassAPerformanceRightswillautomaticallyvestintheeventthatmorethan 90% of shareholders accept a takeover bid made for all shares in the Company and that takeover bid becomes unconditional;
§ 50%oftheClassAPerformanceRights(andanysharesissuedonexerciseofthoseClassA Performance Rights) will be subject to voluntary escrow for 3 years after they are exercised;
o 32millionunquotedClassBPerformanceRightsonthefollowingkeyterms:
§ theClassBPerformanceRightswillvestupontheCompanycompletinga
Transformational Deal by 1 February 2023 (or such longer period where binding agreements are executed prior to 1 February 2023), provided that the contractor agreement is not terminated as at that date;
1 Revenue means consolidated, unaudited revenue of the Company including, where the Sportech Acquisition has not been terminated and completion of the Sportech Acquisition remains subject to the satisfaction of conditions precedent, the pro forma revenue of the Sportech Assets, and excluding one-off or extraordinary revenue items, revenue received from government grants, allowances, rebates or other hand-outs and revenue manufactured to satisfy the Vesting Criteria.
2 Market Value means the volume weighted average price of shares in the Company over the 5 days on which trades in the Company’s shares occurred on the ASX immediately preceding the date of the exercise notice.

§ a‘TransformationalDeal’isconsideredtobeabindingtransactionenteredintobyorin relation to the Company as a result of Mr Tripp’s introduction or with Mr Tripp’s reasonable assistance and such transaction increases both of the Company’s Revenue and EBITDA3 (as compared with such metrics immediately prior to completion of the Transformational Deal) by more than 100% on a pro forma basis. A Transformational Deal may include a takeover of the Company subject to the Takeover meeting the financial metrics otherwise applicable to a Transformational Deal;
§ uponanindependent,qualifiedexpertconfirmingthatthevestingcriteriawassatisfied, each Class B Performance Right is convertible into one Share for nil consideration or the Company may, in its sole discretion, elect to pay Tripp an amount in cash equal to the market value of the shares underlying the Class B Performance Rights and cancel the Class B Performance Rights;
§ theClassBPerformanceRightswillexpire12monthsaftertheendofthevestingperiod; and
§ 65%oftheClassBPerformanceRights(andanysharesissuedonexerciseofthoseClassB Performance Rights) will be subject to voluntary escrow for 3 years after they are exercised;
o 32millionunquotedOptionsonthefollowingkeyterms:
§ theOptionswillvestupontheCompanycompletingaTransformationalDealby1
February 2023 (or such longer period where binding agreements are executed prior to 1
February 2023), provided that the contractor agreement is not terminated as at that date;
§ uponanindependent,qualifiedexpertconfirmingthatthevestingcriteriawassatisfied,
each Option is convertible into one Share for $0.70 per Option or the Company may, in its sole discretion, elect to pay Tripp an amount in cash equal to the market value of the shares underlying the Options (less the aggregate exercise price) and cancel the Options; and
§ iftheCompanyconductsacapitalraisinginconnectionwiththeTransformationalDeal, the Options must be exercised on completion of the Transformational Deal subject to the Market Value being at least 50% greater than the exercise price. Otherwise, the Options will expire 12 months after the end of the vesting period;
§ 65%oftheOptions(andanysharesissuedonexerciseofthoseOptions)willbesubjectto voluntary escrow for 3 years after they are exercised.
• Tripp must not request to exercise or convert any Performance Rights or Options, and the Company must not issue Shares upon the exercise of Performance Rights or Options, if such issue of Shares would result in any person and their associates having a relevant interest (as this term is defined in the Corporations Act) in more than 19.99% of the total issued share capital in the Company.
• The Company will seek ASX approval of the terms of the Performance Rights shortly. If the ASX requires the terms of the Class A Performance Rights, Class B Performance Rights or the Options to
3 EBITDA means consolidated, unaudited earnings before interest, taxes, depreciation and amortisation of the Company including, where the Sportech Acquisition has not been terminated and completion of the Sportech Acquisition remains subject to the satisfaction of conditions precedent, the pro forma EBITDA of the Sportech Assets, and excluding one-off or extraordinary revenue or expense items, revenue received from government grants, allowances, rebates or other hand-outs and revenue or profits manufactured to satisfy the Vesting Criteria.

be amended the parties agree that the relevant terms are to be amended to reflect the
requirements of the ASX.
• Neither Tripp nor Mr Tripp will not receive any additional cash consideration for the Services.
• The agreement may be terminated without cause by Tripp on 20 business days’ notice or
immediately by the Company if Tripp breaches the agreement and fails to remedy the breach within 20 Business Days, commits an act of bankruptcy or is of unsound mind and is unable to perform the Services.

Morning all,
Unless we get an official news release from Newscorp within the next 24 hours,I can't see how BET can release any news that will be of any real impact.
Quarterly due anytime soon and only 3 weeks away from opening season at Monmouth!
Heaps to look forward too.
I can't even imagine what we will be worth in 12 months time,,,mind blowing stuff.

 

[Lattelarry]

If Australia has a gambling turnover of $31B what % of that market do you think the new BetR can get?…….if BetMakers charges a 1% of turnover as a fee…….well the annual revenue will be healthy!………and I am sure we would also charge a monthly service fee.

$31,000,000,000		1%
Market Share	Annual Turnover	Of Turnover
3%	$930,000,000	$9,300,000
4%	$1,240,000,000	$12,400,000
5%	$1,550,000,000	$15,500,000
6%	$1,860,000,000	$18,600,000
7%	$2,170,000,000	$21,700,000
8%	$2,480,000,000	$24,800,000
9%	$2,790,000,000	$27,900,000
10%	$3,100,000,000	$31,000,000
11%	$3,410,000,000	$34,100,000
12%	$3,720,000,000	$37,200,000
13%	$4,030,000,000	$40,300,000
14%	$4,340,000,000	$43,400,000
15%	$4,650,000,000	$46,500,000
20%	$6,200,000,000	$62,000,000
25%	$7,750,000,000	$77,500,000
30%	$9,300,000,000	$93,000,000
35%	$10,850,000,000	$108,500,000

I just had to check if your figure was for all of gambling or just on the ponies and it seems that its very close to that for just the racing.

I don't think anyone on the BetR side would be going ahead if the plan wasn't to be bigger than TAB. I saw they are doing $9.5B in digital wagering.

I wonder if any of the fund manager researchers have thought about the numbers you posted above Reg? I doubt it. And thats just Australia!

 

[TeddyFiles]

If Australia has a gambling turnover of $31B what % of that market do you think the new BetR can get?…….if BetMakers charges a 1% of turnover as a fee…….well the annual revenue will be healthy!………and I am sure we would also charge a monthly service fee.

$31,000,000,000		1%
Market Share	Annual Turnover	Of Turnover
3%	$930,000,000	$9,300,000
4%	$1,240,000,000	$12,400,000
5%	$1,550,000,000	$15,500,000
6%	$1,860,000,000	$18,600,000
7%	$2,170,000,000	$21,700,000
8%	$2,480,000,000	$24,800,000
9%	$2,790,000,000	$27,900,000
10%	$3,100,000,000	$31,000,000
11%	$3,410,000,000	$34,100,000
12%	$3,720,000,000	$37,200,000
13%	$4,030,000,000	$40,300,000
14%	$4,340,000,000	$43,400,000
15%	$4,650,000,000	$46,500,000
20%	$6,200,000,000	$62,000,000
25%	$7,750,000,000	$77,500,000
30%	$9,300,000,000	$93,000,000
35%	$10,850,000,000	$108,500,000

Providing the platform is smooth for punters and offer the regular Best tote, odds boosts, bonus bets I can’t see the likes of Bluebet, Neds, and the other lower tier bookmakers competing.

Everyone wants to be with the new kid on the block at least in the interim. It’s holding onto the punter that will be key.

Interesting times.

FYI all your mates on HC are wanting to know where you are. Told them you were still giving us pearls on a less toxic forum.

God speed.

 

[Lattelarry]

Providing the platform is smooth for punters and offer the regular Best tote, odds boosts, bonus bets I can’t see the likes of Bluebet, Neds, and the other lower tier bookmakers competing.

Everyone wants to be with the new kid on the block at least in the interim. It’s holding onto the punter that will be key.

Interesting times.

FYI all your mates on HC are wanting to know where you are. Told them you were still giving us pearls on a less toxic forum.

God speed.

HC is just full of so much crap now.

 

[TeddyFiles]

HC is just full of so much crap now.

I enjoyed the banter during endless COVID lockdowns but now we have better things to do.

Granny needs to start a new thread about the train leaving the station 2.0

 

[Lattelarry]

……so basically we will be earning approx $31M a year over the next 10 years from this 1 new bookmaker just in Aus & NZ…..sounds good to me!!!!……..bring on the rest of the world.

Could end up more than that - assume the first 2 years might be lower then even if from year 5 BetR are doing $9B a year then it will be a very good income!