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3 ASX shares to have a bet on for Cup Day

Tristan Harrison
Melbourne Cup

It’s race day and many people are about to gamble a bit of money on a horse race.

Who knows which horse will win? Some people think that investing in the share market is just as much of a gamble. I don’t think that, but some shares are more of a bet than others.

If you wanted to do some investing that involved a bit of a gamble, then these three could be ideas:

Crown Resorts Ltd (ASX: CWN) 

Crown is one of the best gambling shares on the ASX with its huge casino operations in Melbourne and Perth. Crown should see more visitors over time as Australia attracts more rich tourists and the city populations rise.

The best reason to bet that Crown’s earnings and share price will rise is that it’s on track to open Crown Sydney. Opening a luxurious location in Australia’s richest city is a smart move.

Crown is trading at 24x FY21’s estimated earnings.

Afterpay Touch Group Ltd (ASX: APT) 

Afterpay is one of the most popular shares to have a bet on. The buy now, pay later business share price goes up and down like a yo-yo but over time it has gone up as the number of merchants and customer numbers rise.

The Afterpay share price has dropped 23% over the past month with investors worried about what will happen with an RBA inquiry into the buy now, pay later sector.

Growth in the US and UK could be more than enough to justify today’s price, although competition is rising in the space.

Jumbo Interactive Ltd (ASX: JIN) 

The re-seller of lottery games is seeing strong growth, in FY19 it saw revenue growth of 64% and net profit growth of 124%. If it can sustain this level of growth for a while then today’s high valuation could be cheap eventually.

The Jumbo Interactive share price has fallen 22% over the past month so it’s certainly better value than before. The new Powerball format is working well for the company and the dividend growing at a fast rate is a bonus too.

The post 3 ASX shares to have a bet on for Cup Day appeared first on Motley Fool Australia.

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Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Jumbo Interactive Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended Crown Resorts Limited. The Motley Fool Australia has recommended Jumbo Interactive Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019