If you look at key metrics - 1: From a gambling business...

If you look at key metrics -

1: From a gambling business perspective - the number of people placing losing bets is up 174% from $10 mil to $28 mil . At the end, this is one revenue stream that trickles down to the bottom line .

2: number of accounts opened has increased by 254% from 34,000 to 124,000 - the more accounts opened means more bets placed with 88,000 active users ( which equates to $6300 worth of bets per user approximately ).

3: value of bets has increased incrementally 244% from $165 million to $560 million . This shows that not only are accounts being opened but bets placed also are increasing in proportion. It would have been a red flag of accounts opened had gone up but value of bets hadn’t increased because without bets, there are no losses and no revenue growth. 3 million individual bets were placed between April and June .

4: the US market has barely come online and they have doubled market share to 5.4% in New Jersey . If I recall Illinois and New Jersey population alone is the same as all of Australia . Illinois , Iowa and Colorado will contribute significantly in the next 6-12 months as they can now accept NFL bets in the first two markets in 2019/2020 season starting soon, with possibility of some opportunities in New York.

There is $75 mil of cash raised in IPO.

I think it’s been a solid year for a company that has been listed for less than 2 months .