#6 - Esports Entertainment Group (NASDAQ:GMBL)
If you’re willing to overlook the low share price, Esports Entertainment Group (OTCMKTS:GMBL) may be a sneaky good play among gambling stocks. As of this writing, investors can grab shares of GMBL for less than $5 per share. However, the stock has been as high as $15.75 in the last 52 weeks. So this may very well be a buy on the dip opportunity. The stock is up about 15% in 2020.
Esports Entertainment is on the fringe of the online gambling niche. The company is focused on esports betting and, according to the company’s website, “intends to offer users from around the world the ability to participate in multi-player mobile, console and PC video game tournaments online for cash prizes.
GMBL was the first online gambling company to start trading on an American stock exchange. In mid-May, Esports Entertainment received its gaming license in Malta. This is an important step to launch its esports betting platform.
About Esports Entertainment Group
Esports Entertainment Group, Inc operates as an iGaming and entertainment company in the United States and internationally. It operates through two segments, EEG iGaming and EEG Games. The EEG iGaming segment operates iDefix, a casino platform. The EEG Games segment operates ggCircuit, a local area network center management software and services for managing mission critical functions, such as game licensing and payments; and creates esports content for distribution to the betting industry.
Read More - Current Price
- $0.21
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
I don’t have to tell you that gambling is a big business. But right now, like most of the world’s economy, gambling is at the beginning of a long road back. Just how long that road will have yet to be determined, but it’s logical to believe that demand for not only on-site but also online gambling to return in short order.
And if people are betting on Korean baseball and charity golf events, you can imagine there is just a bit of pent-up demand for live sports. When professional sports return, and it’s looking more likely that they will, there will be ample demand for fantasy sports and betting on games.
That makes now the time for you to get in on stocks that will put you in a position to take advantage of this increased demand. And with gambling stocks being about so much more than casinos, these stocks can help ensure you are where the action is.
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