Gambling.com Group to acquire OddsJam parent for $160M

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Affiliate business Gambling.com Group has agreed to acquire Odds Holdings, the parent company of OddsJam, for up to $160 million (£125.6 million/€152.3 million).

Gambling.com Group has agreed to pay €80 million upfront for Odds Holdings, with an additional $80 million tied to OddsJam’s performance through 2026. OddsJam provides real-time odds to users, while Odds Holdings offers low-latency odds data to enterprise clients.

Gambling.com Group claims that the odds platform powering Odds Holdings is the industry’s “most advanced,” processing over one million requests per second and multiple terabytes of data daily across nearly 300 sportsbooks.

Strategic Acquisition of Odds Holdings​

By acquiring the Odds Holdings business, Gambling.com Group aims to expand its industry footprint, generating new recurring revenue from both consumer and enterprise clients. The group also sees an opportunity to leverage existing partner relationships to drive significant growth for Odds Holdings.

Gambling.com Group describes the acquisition as a “strategic and substantial step” towards its goal of reaching $100 million in adjusted EBITDA. The deal is expected to be immediately accretive to the company’s operating results upon closing. For 2024, Odds Holdings is projected to generate $26 million in revenue and $12 million in adjusted EBITDA. The group expects the transaction to close on 1 January 2025, subject to customary conditions.

As part of the deal, the Odds Holdings team will join Gambling.com Group, including OddsJam founders Ankit Goyal and Alex Monahan, as well as CEO Matt Restivo.

Charles Gillespie, co-founder and CEO of Gambling.com Group, stated:

The accretive acquisition of Odds Holdings will immediately provide Gambling.com Group with additional, recurring revenue streams which are independent of our market-leading online gambling affiliate business, consistent with our strategy to expand our footprint in the online gambling industry. Their talented team has not only built a state-of-the art odds technology platform, but managed to build multiple distinct products on top of that platform which have very clear product-market fit.

Odds Holdings gives Gambling.com Group a suite of new enterprise products. OddsJam in particular brings a passionate and energetic new consumer audience to the group.

Odds Holdings CEO Restivo added:

By leveraging Gambling.com Group’s expertise, innovation and resources we will be optimally positioned to scale our technology and data-driven insights to reach an even larger audience of online bettors, including beyond the North American market.