Esports Technologies or NASDAQ EBET at https://www.webull.com/quote/nasdaq-ebet is an Esports-only sports betting website. Currently, the company is involved in South America, Asia and Central America.
The company’s initial public offering (IPO) took place last Thursday, and the stock began trading at $20. It rapidly increased in value, reaching a high of nearly $50 per share. The stock has since settled down to its original price point of $20 this morning, after the initial burst on Thursday and Friday.
The Initial Public Offering (IPO)
Esports is undeniably one of the most common types of entertainment in the modern world. With sports betting becoming increasingly popular, especially in the United States, it appeared that investors were eager to get involved.
On Friday, the stock peaked at $49.20 a share with a volume of 800,000 shares traded. The current number of shares outstanding is 10.65 million, with an average daily volume of 5 million in the first three days of trading. These are impressive figures for a brand new business based outside of the United States. Not to mention that the business is in a brand new industry that many investors are unfamiliar with.
Technologies for Esports
In the United States, esports betting is not widely available. Although sportsbooks would like to make more wagers, Esports betting is subject to several restrictions in every state that allows legal sports betting. The company would undoubtedly want to tap into the enormous US market, but it will have to wait for regulators to agree.
The question now is whether Esports Technologies can sell its betting technology to major sports betting companies such as BetMGM, Flutter, DraftKings, William Hill, and others. Since these sportsbooks are already developed, this appears to be the most obvious path; however, Gogawi entering the US market on its own is a real possibility.
Esports Technologies’ website has probably the best user experience we’ve ever seen on a sports betting app, and sportsbooks should learn from the clean design Esports Technologies has built on their business-to-consumer platform.
What Is the Size of Esports?
Though Esports is common in the United States, it is arguably bigger and more integrated into Asian, European, and South American cultures. As a result, many Americans could be shocked by the popularity of Esports. ESports has a bright future in the legal betting industry. The scene is massive, and the top players are making insane sums of money. This is significant because it makes it more difficult for competitive integrity to be undermined. After all, these players are making so much money by playing fairly.
However, this does not rule out the possibility of a scandal. Players in lower-tier leagues also do not make a lot of money, which has caused some controversy. We just published an article in Counter-Strike: Global Offensive about a new North American match-fixing scandal. The Mountain Dew League, ESL’s second-tier league in North America, has sparked controversy. You can invest other stocks like nasdaq open at https://www.webull.com/quote/nasdaq-open.