Welcome to WebProNews Breaking eBusiness and Search News
Advertise | Newsletter | Sitemap | News Feeds News Feed 
 WebProNews Search Part of the iEntry network iEntry inc. 

Online Betting Service Predicts Another Google IPO Price Drop

Staff Writer
Published: 2004-08-18

WebProNews RSS Feed

Based on Betting Action, SportsBook911.com Previously Predicted First Google IPO Slash, and Now Says it will Happen Again Based on Onslaught of 'Under' Betting.

SportsBook911.com, a leading online betting service that predicted on Monday that Google (Nasdaq: GOOG) would have to slash its IPO price, said today that Google's new range of $85-95 a share is still too high and will be slashed again. SportsBook.com is basing its latest prediction on the same input that prompted its first correct forecast: extremely heavy action by bettors that the IPO will go for less than
Google's predicted price range.

Earlier this week, SportsBook911.com temporarily suspended "over-under" wagering on the Google IPO auction after an onslaught of bets from New York and California saying the search engine would have an opening price of less than $110 per share, which was on the low end of Google's own forecast of $108-$135 per share. The temporary suspension was lifted later on Monday with a revised wagering platform that includes five price points, with varying odds for each, for the stock's opening price and closing price. Initial wagering was for the opening price only.

Today, when Google announced it had slashed its range to $85-95 per share, SportsBook.com changed its over-under line accordingly. "Even with the change, we are getting besieged by bets saying the IPO will come in under Google's forecast," according to Mike Nickels, president of GC Sports Group, which operates SportsBook911. "Our clientele certainly was right the first time, and I have to say they are most likely going to be proven right again. I would look for an IPO in the range of $75-80 per share."

Receive Our Daily Email of Breaking eBusiness News

About the Author:
WebProNews | Breaking eBusiness News Your source for investigative ebusiness reporting and breaking news.

WebProNews RSS Feed

More Articles

Contact WebProNews


Targeted Information for Business
WebProNews is part of the iEntry network

Internet Business: Marketing: Small Business:
WebProNews MarketingNewz SmallBusinessNewz
WebProWorld AdvertisingDay PromoteNews
EcommNewz SalesNewz EntrepreneurNewz

Software: Search Engines: Web Design:
WebMasterFree Jayde B2B DesignNewz
NetworkingFiles SearchZA FlashNewz
SecurityConfig SearchNewz WebSiteNotes

Developer: IT Management: Security:
DevWebPro ITManagement SecurityProNews
DevNewz SysAdminNews SecurityConfig
TheDevWeb NetworkingFiles NetworkNewz

The iEntry Network consists of over 100 web publications reaching millions of Internet Professionals. Contact us to advertise.

 Advertise | Contact Us | Corporate | Newsletter | Sitemap | Submit an Article | News Feeds
 WebProNews is an iEntry, Inc. ® publication - $line) { echo $line ; } ?> All Rights Reserved
About WebProNews
WebProNews is the number one source for eBusiness News. Over 5 million eBusiness professionals read WebProNews and other iEntry business and tech publications.

WebProNews provides real-time coverage of internet business.

Free Email Newsletters:
WebProNews SearchNewz
WebProWorld DevWebPro
Marketing SecurityNews
Plus over 100 other newsletters!

Send me relevant info on products and services.

Ten most recent posts.

Featured Software

WebProNews in the News
View all recent mentions of WebProNews from around the world!

Recent Articles On ...
Google eBusiness
Yahoo Ask Jeeves
MSN Blogs
Search Engines Blogging
Affiliate Programs Marketing
eCommerce Advertising
eBay Sun Microsystems
AOL Adsense
Microsoft Adwords
Oracle IBM
Amazon Apple
SEO iPod
Adsense XBox
PR Adobe

iEntry.com WebProWorld RSS Feed WebProWorld Contact WebProNews Print Version Email a friend Bookmark us