With legalization of sports betting spreading across the US, investors are starting to take notice as new markets open up for this lucrative industry. One of the promising sports betting stocks gaining ground this week it Winners, Inc. (OTC: WNRS) which operates through its subsidiary – VegasWinners. After increasing 27% in the last three days, investors are watching WNRS stock to see if it will continue to move on unusually high volume. Investors are also bullish on the stock after WNRS appointed a new President and Chief Marketing Officer to oversee the company’s growth plans for its next phase of expansion. Given this industry’s potential for significant growth, WNRS could be one of the best sports betting stocks to watch for further growth.
WNRS Stock Catalysts
Adding to its already experienced management team, VegasWinners appointed Todd Kobrin as its new President. With over 20 years of experience in the sports betting industry, Kobrin previously launched successful gaming brands in over 40 countries. This addition is also in line with WNRS’ aim of expanding its services globally.
Kobrin is a notable addition thanks to his work with some of the biggest names in the industry like 888sport, Unibet and World Series of Poker. However, Kobrin’s role as the CEO of betting platform – Oddsium – will allow WNRS to capitalize on Kobrin’s experience in improving the company’s offered services.
At the same time, VegasWinners also appointed Andy Scott to the position of Chief Marketing Officer. Considering his 14 years of experience in sports betting marketing, Scott is expected to aid WNRS in its plans for expansion. Leveraging his experience, Scott co-founded the sports betting and iGaming digital marketing agencies – TBD Media and Next Play Digital. Given that these agencies are experienced in paid media as well as affiliate marketing, Scott’s appointment could be pivotal in developing WNRS’ google ad campaigns.
However, VegasWinners’s CEO Wayne Root is perhaps the most noteworthy member of this team. Considered “The King of Vegas Sports Gambling” by the media, Root started his career at FNN as an oddsmaker, NFL analyst and host of the pregame and postgame football shows.
Following his tenure at FNN, Root joined USA TV and became the star of a sports handicapping pregame show. During that time, Root had the most expensive pay-per-call numbers in the telemarketing history as millions of sports betting enthusiasts called Root for his betting advice. Thanks to his national popularity, Root became the first sports handicapper awarded a star on the Las Vegas Walk of Stars. In light of his extensive experience in the industry, many are hopeful that Root’s connections and public image can help WNRS became one of the best performing sports betting stocks.
Its important to note that WNRS plans require additional capital and the company has extended the period of its offering to March 24th, 2023 for this reason.
Media Sentiment
@ThePimpisback87 believes that sports betting stocks like WNRS are in a hot sector
Technical Analysis
WNRS is clearly a volatile stock. Up 27% in the last three days, WNRS stock is currently trading at .014 with at .011 and a resistance near .015. Its next clear resistance is at .018. Accumulation is seeing an uptick, the MACD is bullish, and the RSI is at 55. Volume has been higher than average this week – reaching 1.1 million compared to its average of only 142 thousand.
If the stock is able to continue pushing higher on this unusual volume, it could hit its resistance at 18 for a 37% gain.
WNRS Stock Forecast
Given that the sports betting industry is expected to grow to $140 billion by 2028, VegasWinners’ experienced management team appears to be equipped with the experience to help WNRS secure a significant position in the market. Since the company requires funding to facilitate more growth in this industry, WNRS’ offering is to be expected but in the long-run it could help facilitate the growth necessary to secure a larger share of this emerging market. Meanwhile, the unusualy volume and recent uptick for the stock could be a sign that more is brewing for WNRS.
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