No it’s not. Every company is trying to get a piece of the sports betting pie. But at the same time the cost per costumer is up around $1500 to $2000. The problem is a lot of those customers are only $10 or $20 gamblers, the math just does not make sense.
Those stock prices were not sustainable. All companies
have been smashed down including BBT since November.
BlueBet have a niece approach rather than a large quarterly cash burn as used by PointsBet, DraftKings etc.
BlueBet spend $292 per new customer atm and will have the casino pay for advertising and marketing.
Once the larger players dial back their massive advertising burns and become profitable the sentiment will change and the bull market will return.
So BlueBet need to keep the US story going with new skin agreements and keep building the Aussie business.
But they need to show profitability and the cost per customer down.
No it’s not. Every company is trying to get a piece of the...
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Last
21.5¢ |
Change
-0.015(6.52%) |
Mkt cap ! $120.7M | |||
| Open | High | Low | Value | Volume |
| 22.5¢ | 23.0¢ | 21.5¢ | $65.30K | 292.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 108159 | 21.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.0¢ | 6000 | 1 |
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| Last trade - 13.40pm 22/07/2024 (20 minute delay) ? |
| BBT (ASX) Chart |