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EBET, Inc.: Business Overview, Financials & Competitive Analysis

EBET, Inc. scores 3/10 on the AskCyborg Cyborg Score (Challenged). Delisted former NASDAQ microcap with challenged fundamentals; acquisition-driven growth strategy failed to achieve profitability at scale. EBET announced ceasing from trading on Nasdaq in October 2023. The company experienced significant revenue decline and mounting losses between 2022-2023, indicating severe operational and financial stress despite holding valuable esports and gaming assets.

What is EBET, Inc.'s industry? EBET, Inc. (ebetinc.com) operates in Esports and Competitive Gaming. AskCyborg classifies EBET, Inc. under Esports and Competitive Gaming in its company registry.

EBET, Inc. develops and operates platforms to provide a real money online gambling experience focused on casino, sportsbook, and esports events in the United States. The company operates a portfolio of proprietary onl...

3/ 10Challenged

Cyborg Score thesis

Delisted former NASDAQ microcap with challenged fundamentals; acquisition-driven growth strategy failed to achieve profitability...

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Industry Esports and Competitive Gaming
4 named competitors
3 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: September 21, 2026
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What's in This Report
EBET, Inc. OverviewStrategic ProfileCompetitive LandscapeIndustry ContextKey facts
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EBET, Inc. Overview

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EBET, Inc. develops and operates platforms to provide a real money online gambling experience focused on casino, sportsbook, and esports events in the United States. The company operates a portfolio of proprietary online casino and sportsbook brands consisting of Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, and GenerationVIP. The company is focused on bringing better odds and technology solutions to cater to the Millennial and Gen-Z demographics.

Strategic Profile

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It has an expanding portfolio of intellectual property with patents pending around odds modeling simulation, an electronic sports betting exchange system, live streaming odds integration and enhancing modeling probabilities in multi-player games. However, the company faced significant operational challenges; in fiscal year 2023, EBET, Inc.'s revenue was $39.18 million, a decrease of -33.14% compared to the previous year's $58.60 million, and losses were -$88.33 million, 91.3% more than in 2022.

Competitive Landscape

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EBET operates in competitive markets that include large global i-gaming and sportsbook operators, regional casino groups and B2B platform providers. While EBET is a microcap with a niche footprint, competitors range from large integrated operators to specialized esports wagering platforms and i-gaming technology providers.

Industry Context

EBET, Inc. operates in Esports and Competitive Gaming.

Key facts

Founded: 2020 · Headquarters: Las Vegas, Nevada · Employees: N/A · Revenue: $39.18M (FY2023) · Market cap: N/A

What the analysts stress-tested

The top findings that survived the multi-agent debate for EBET, Inc..

  • Revenue declined 33% year-over-year to $39.18 million in FY2023 despite earlier acquisition-driven expansion
  • November 2021 acquisition of Karamba, Hopa, Griffon Casino, BetTarget, Dansk777 and Generation VIP included 1.25 million deposited customers but failed to sustain profitability
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Recent developments

Material events tracked by the AskCyborg corpus.

  • October 2023Ceased trading on NASDAQ
  • FY2023Revenue of $39.18 million with net losses of $88.33 million
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

DraftKingsDaily fantasy sports and sports betting platform→FanDuelSports betting and iGaming operator→BetMGMIntegrated casino resort operator with sportsbook→KambiB2B sports betting platform technology provider→

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Industry context

EBET, Inc. operates in Esports and Competitive Gaming. See how the rest of the sector scores on the Cyborg framework.

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Frequently asked questions

What does EBET, Inc. do?+
EBET, Inc. develops and operates platforms to provide a real money online gambling experience focused on casino, sportsbook, and esports events in the United States. The company operates a portfolio of proprietary onl...
What is EBET, Inc.'s Cyborg Score?+
EBET, Inc. has a Cyborg Score of 3/10 (Challenged). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are EBET, Inc.'s main competitors?+
Named competitors include DraftKings, FanDuel, BetMGM, Kambi. The full competitive landscape is in the AskCyborg report.
How can I get the full EBET, Inc. research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the EBET, Inc. research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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More Esports and Competitive Gaming research

Companies in the same sector and named competitors, ranked by Cyborg Score.

6DraftKings Inc.