If you are looking for solid profits or juicy revenue you won't find them here, but take a punt and read on, not every good idea fits neatly into your excel spreadsheet. 

A couple of months ago BET made a very interesting announcement to the market. Matthew Tripp made a $25m investment in the company and agreed to partner with BET to accelerate the growth of its B2B wagering strategy. This was attached with two (very generous) tranches of options. that will see him make a lot more money if he can deliver a transformative deal in the next two years that meets the stipulated requirements.

Matthew Trip started Sportsbet for ~ 250K and ran it until it was ultimately sold in 2011 to Paddy Power for $388m. He was then employed by Crown to run their wagering arm BetEasy before it too was sold.

Long story short, Matthew Tripp is a massive winner, big time! If I was to BET on one thing, it would be that this guy will get a deal done. His incentives to do so are extremely high and the guy is far too sharp to leave multiple millions just sitting on the table. 

Now, will he deliver a deal that will add value for the company after paying him a rather egregious fee? 

Fair question. Here is the good news...

“It Doesn’t Matter” 

We are amid some of the most speculative times in memory, a time where a pair of digital sneakers will set you back $25k. If the director of an ASX company found $50 bucks in the carpark and announced it to the market, the stock would probably gap up 20%.

Whether Matt Trip delivers a deal that is truly transformative or just whether he delivers an average deal that just managers to gets himself paid, either way The SP will be heading higher.

Remember your job is not to figure out what the market should do, it is to anticipate what the market will do.

Any deal will be presented with all the bells and whistles, creating maximum hysteria and hype and the market will do what it does best, react with induced panic, excitement and FOMO. 

Nice neat cap raise at 37c, unfortunatley they shafted retail holders.. also appears a bit leaky with some of the price action recently which is not a great sign.

In saying that, Company is making big moves and has momentum so I won't be going anywhere, but I am in no rush to top up either.

BET is in the gaming industry but unlike a bookmaker is in more of a niche are providing data and services to Bookmakers and Operators. I bought in my personal portfolio during the inital Covid panic when it was clear they would not be that affected  yet the Share price had been hit hard.

Two key things make this a great opportunity for me. One is they recently won a ten year deal to provide and manage fixed odds in The U.S.  The U.S is market is fairly new (legally that is) to gambling and BET has a foot in the door. 

The second and for me more important is the deal to work in partnership with Tom Waterhouse. I have some experience in the Betting industry and while I am not the guys biggest fan, I acknowledge that he knows the game inside and out and knows how to win.

I am happy to get on board and take a shot at this one while Tom has significant skin in the game.