Since the Supreme Court allowed states to legalize sports betting in 2018, companies like Winners, Inc.(OTC:WNRS) have been in a prime position to capitalize on this $71 billion industry. With over 30 states legalizing sports betting and many in the process of legalizing it, WNRS stock could be one to watch in 2022 as this industry expands throughout the nation. Given that the industry is expected to grow to $171 billion by 2028, this could be the perfect time to invest in sports betting companies like WNRS stock.
WNRS Stock Catalysts
Aiming to become the leader of the sports betting industry, WNRS looks to partner with the world’s largest sports betting brands through its subsidiary – VegasWinners. With this in mind, the company’s biggest partnership is with bet365. As a global leader in online sports betting, bet365 provides WNRS with access to the lucrative sports betting market of New Jersey. In this way, WNRS is well-positioned to become a main player in this growing industry.
Moreover, WNRS is partnered with blockchain-based casino and sportsbook Spartan Casino. Considering the appeal of blockchain technology due to the security it provides, many users believe blockchain-based casinos are the future of betting. Based on this, Spartan aims to remove the current risks of betting by implementing its own decentralized ecosystem with smart contracts and traditional live dealer games. Pursuant to the terms of this agreement, WNRS and Spartan will promote this casino model together – with WNRS receiving a 10% commission from Spartan’s revenues generated from its promotions. In light of this, WNRS could be set for major growth as Spartan’s casino model gains more popularity.
Considering the company’s goal of operating in all states legalizing sports betting, WNRS is escalating its efforts to increase its reach in these states. With this in mind, WNRS received Google’s approval to run ad campaigns in markets with legal sports betting as an affiliate marketing aggregator. Through this approval, WNRS will be able to provide users with expert betting picks as well as legal sportsbook reviews – possibly attracting a larger audience.
Delivering on this, WNRS started its first Google ad campaign in the Denver market with the intention of launching more campaigns across the nation by the beginning of the NFL season. As the company is now able to reach this target audience, WNRS could be positioned for major financial growth in 2022.
WNRS Stock Financials
According to its annual report, WNRS reported $871K in cash on hand compared to $218K in 2020. As a result, WNRS increased its assets to $944K from $340K in the previous year. At the same time, WNRS reduced its liabilities significantly from $1 million to $156K. In terms of revenues, the company reported $27K – an increase from the $7K reported in 2020. Despite showing significant improvements in its financials, WNRS more than doubled its YoY net loss by reporting a $3.2 million net loss compared to $1.2 million in 2020. This massive increase, however, is largely the result of the company increasing its operating costs to $2.7 million as it ramps up its efforts to expand in the US.
@SpaceManTrades is watching WNRS stock in light of its recent catalysts.
Currently trading at $.0121, WNRS stock shows a main support at .0010, a main resistance at .0125, as well as a secondary resistance at .0150. Accumulation has taken a hit following its offering and the MACD is bearish. The RSI is picking up at 45 after a recent drop to 39. Given that WNRS stock appears to have bottomed out at .011 recently, this could be a good entry point for bullish investors to secure a position in WNRS stock.
With 287.8 million OS and 106 million shares unrestricted, WNRS stock’s float is believed to be close to its unrestricted shares which could make it a relatively low float.
WNRS Stock Forecast
As many states are beginning to embrace sports betting, WNRS stock is shaping up to be one of the emerging companies in this arena. With the sports industry expected to grow to $171 billion by 2028, WNRS’ partnerships are positioning the company to secure a large share of this lucrative market. The company is registered in 5 states and could operate in 6 more states soon since WNRS has applied to other states with legal sports betting. Given that the company is approved by Google to run ad campaigns, WNRS could quickly expand its reach.
If you have questions about WNRS stock and where it could be heading next feel free to reach out to us in our free alerts room!