Gambling.com Group has finalized an agreement to acquire Odds Holdings, beginning with an upfront payment of €80 million. If OddsJam and related brands perform as expected until the end of 2026, an additional $80 million will be paid.
OddsJam, the primary brand under Odds Holding, provides users with real-time betting odds through both a website and mobile app. Additionally, another independent company managed under Odds Holding supplies fast odds data to business clients.
Gambling.com Group claims that the underlying platform of Odds Holding is among the most sophisticated in the industry. This platform can handle over a million requests per second and processes vast amounts of data every day, spanning around 300 sportsbooks.
### Expanding Industry Presence
By incorporating Odds Holding into its operations, Gambling.com Group aims to bolster its presence in the industry. The company anticipates generating new, recurring revenue sources from both consumers and businesses.
The group also plans to use existing partnerships to further expand Odds Holdings. It describes this acquisition as a key strategic move toward reaching its target of $100 million in adjusted EBITDA.
The purchase is expected to immediately enhance Gambling.com Group’s financial performance once finalized. Odds Holdings anticipates earning $26 million in revenue and $12 million in adjusted EBITDA for 2024. The transaction is projected to conclude on January 1, 2025, pending typical closing requirements.
### Integration of Odds Holdings
As part of the acquisition, the Odds Holdings team, including founders Ankit Goyal and Alex Monahan and CEO Matt Restivo, will integrate with Gambling.com Group.
Gambling.com Group’s CEO, Charles Gillespie, emphasized that acquiring Odds Holdings will immediately provide additional revenue streams independent of their main online gambling affiliate business, which aligns with their strategy to enhance their influence in the online gambling sector.
Gillespie praised the team at Odds Holdings for developing a first-rate odds technology platform and crafting various unique products that have effectively met market demands.
The addition of Odds Holdings introduces a range of new enterprise solutions to Gambling.com Group. OddsJam, specifically, is expected to bring an enthusiastic audience of consumers to the company.
CEO Restivo of Odds Holdings expressed excitement over the collaboration, stating that with Gambling.com Group’s expertise, innovation, and resources, they will be well-positioned to scale their technology and insights to a broader audience, potentially expanding beyond the North American market.
This acquisition follows a recent move by Gambling.com Group in April, when it quickly closed the acquisition of Freebets.com and associated assets shortly after reaching an agreement.