Esports Technologies is a Las Vegas-based company that specializes in online gambling for esports and gaming. According to social media chatter, investors are hoping the relatively tiny company can cash in on an accelerating trend. Here are some key facts about the company:
As many others have highlighted, EBET stock start trading with a micro-cap valuation. This has it paling in comparison to competitors like DraftKings, another favorite of retail investors. However, it seems that investors passionate about the future of online gambling see this as an interesting stock to watch.
Another thing that investors may be watching is its relationship to cryptocurrencies. According to its S-1 filing, Esports Technologies previously allowed customers to pay with Bitcoin and other cryptos. In the wake of the Coinbase debut, this could help Esports Technologies stock stand out.
The company does have growth potential, especially with U.S. regulators continuing to warm up to online gambling, and with Esports targeting new growth markets in 2021. However, it is not without risks.
Even its connection to cryptos is something the company flags, given the volatile price moves of Bitcoin and its peers.
Editing by Rachel Hu
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