Item 1.01. Entry into a Material Definitive Agreement.

On June 15, 2022, EBET, Inc. (the "Company") entered into lock-up extensions with three of its pre-IPO shareholders holding an aggregate of 3,033,770 shares of Company common stock. The initial lock-up period was set to expire on July 15, 2022. The extension provides that the lock-up period be extended until June 15, 2023, provided that if the common stock price is over $12.00 per share, then the shareholder can sell shares subject to a maximum sale on any trading day of 2% of the daily volume; and if the common stock price is over $20.00 per share, then the shareholder can sell shares subject to a maximum sale on any trading day of 6% of the daily volume.

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