EBET Stock: 24.69% Increase Explanation

By Amit Chowdhry ● April 20, 2021
  • The stock price of eSports Technologies Inc (NASDAQ: EBET) has increased by 24.69% today. This is why it happened.

The stock price of eSports Technologies Inc (NASDAQ: EBET) – a global provider of advanced esports wagering products and technology – has increased by 24.69% today as it went from a previous close of $20.09 to $25.05. Investors are responding positively to eSports Technologies announcing the launch of its consumer platform Gogawi in Japan. Gogawi.com (now available in more than 140 jurisdictions) is an immersive betting destination offering top tournaments and games 24×7.

Japan is known as the birthplace of many influential video games and game developers and it has had an enormous impact on global gaming culture. The Japanese Ministry of Economy, Trade and Industry is now working with the private sector to promote its esports market — which is projected to grow from 6.1 billion yen (US$56.8 million) in 2019 to 15.3 billion yen (US$140.6 million) in 2023. And the ministry’s goal is to generate 285 billion yen (US$2.6 billion) in economic benefits annually by 2025.

eSports Technologies had relaunched Gogawi.com in March 2021. And one of many key upgrades to the platform is its partnering with the payment services solutions Apcopay and Astropay — which provide more deposit and withdrawal options and aim for faster settlement times. 

KEY QUOTE:

“With its long history and deep roots in both gaming and technology, Japan has potential as an esports wagering market. We believe Gogawi.com is an exciting and intuitive esports wagering platform built specifically with the next generation of bettors in mind, from improved payment options to new wagering products. We are eager to have the product live, and look forward to expanding our partnerships into the Japanese market.”

— Aaron Speach, CEO, Esports Technologies

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.