Did you know you can profit from the stock market without owning or trading stocks?
In an unconventional approach, Betonline allows you to place bets on the prices of specific stocks, such as AMC (AMC) or Gamestop (GME).
We want to remind you that the best way to ensure you have all the necessary information before placing any bet is to check out the best sportsbook reviews.
Let’s explore some of the popular stock prices and options available for betting.
AMC (AMC) by July 1st
The first stock we will discuss is AMC. The famed stock and Gamestop (GME) caused tons of issues for the popular mobile app Robinhood.
Oddsmakers have set a price at $5.50 a share and are leaning toward the over, pricing it at -120 vs. the -110 for the under. It’s evenly priced, so let’s examine the recent price history.
.@jimcramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed. On Friday, he told one caller to sell AMC.https://t.co/F8flkh45PE
— Mad Money On CNBC (@MadMoneyOnCNBC) May 25, 2024
I don’t agree with Jim Cramer on this one. The data disagrees with him yet again.
It has increased 11% in the past week and 60% in the past month! The stock is clearly on the upswing. This is most likely the reason the oddsmakers are leaning toward the over.
I would agree with the oddsmakers and bet Over $5.50 a share for AMC at -120.
GameStop (GME) by July 1st
The following stock we will discuss is GameStop.
Oddsmakers have set a price on GameStop at $40.50 by July 1st. This number excites me because it is currently trading at $19.00.
Oddsmakers have priced it very similarly to AMC, with -120 being set for the over, while -110 was the price for the Under. There was a recent share price spike, peaking at $50 a share, but it has been around $25 or less for a week.
Alan Patricof, Greycroft Partners co-founder, says he’s taking a pass on GameStop stock and says, “We’ve been through this same movie before” https://t.co/3wTW0Y1dyr pic.twitter.com/PnMjFd0kQX
— Bloomberg TV (@BloombergTV) May 14, 2024
This doesn’t add up to me. Something doesn’t make sense. It would be obvious to bet the under because the odds of a stock doubling in price in a month are very slim.
This looks like a mistake by the oddsmakers pricing it that high when the stock peaked. I would bet under $40.50 a share at -110 odds.
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Nvidia (NVDA) by Aug 1st
There is no hotter stock than Nvidia. Its value has more than doubled in the past six months.
Oddsmakers are just as bullish on it, pricing the over at $999.50 with the same -120 odds on both sides of the prop. The stock has consistently increased the past day, week, or month.
Betting against the stock is difficult, so I needed clarification to see if the oddsmakers provided identical odds for each side. As of this writing, NVDA is currently trading at $1065 a share.
$NVDA CEO Jensen Huang believes $TSLA‘s full self-driving system is the most advanced out right now. It also just so happens that Tesla’s FSD is powered by Nvidia’s chips. https://t.co/fsNjXt8fhe
— Yahoo Finance (@YahooFinance) May 25, 2024
Over $999.50 feels like the a safe bet at -120 odds.
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