Gambling.com Group has signed a firm agreement to purchase Odds Holdings Inc, the parent company of OddsJam, in a strategic move to strengthen its presence in the international online gambling sector.
The details reveal that Gambling.com plans to pay an initial sum of $80 million for the acquisition, with the option to add another $80 million depending on Odds Holdings’ performance up to the end of 2026.
This deal is scheduled to be finalized by January 1, 2025, pending standard conditions, and is anticipated to considerably boost Gambling.com’s financial results.
OddsJam offers a variety of tools and services to enhance sports betting experiences, particularly through its premier odds comparison tool that provides users with real-time odds from more than 300 sportsbooks.
Gambling.com will incorporate Odds Holdings’ technology, known for its ability to scale and handle over a million requests per second while managing large volumes of data daily. OddsJam is noted for delivering high-quality, real-time odds data for sports bettors and supplying detailed, low-latency odds data solutions tailored for enterprise clients’ varied needs.
Charles Gillespie, the CEO of Gambling.com, highlighted that acquiring Odds Holdings will instantly deliver new, consistent revenue streams for Gambling.com, separate from its leading online gambling affiliate operations. This aligns with their strategy to broaden their influence in the online gambling market.
Investors were informed that the acquisition is set to boost Gambling.com Group’s financial outcomes while supporting its strategic aim of reaching $100 million in annual Adjusted EBITDA. For 2024, Odds Holdings is projected to achieve roughly $26 million in revenue and $12 million in Adjusted EBITDA. Under Gambling.com’s supervision, it is expected that Adjusted EBITDA from Odds Holdings will increase by at least 20% in 2025.
Following the acquisition, OddsJam’s founders, Ankit Goyal and Alex Monahan, alongside CEO Matt Restivo, will join forces with Gambling.com. This partnership aims to harness Gambling.com’s expertise and resources to enhance Odds Holdings’ advanced technology and expand its international audience.
Matt Restivo remarked that joining forces with a tech-driven leader like Gambling.com Group is a logical step for Odds Holdings. With Gambling.com Group’s knowledge, innovation, and resources, they are poised to grow their technology and offer data-driven insights to a wider audience of online bettors, beyond North America.