Gambling.com Group has struck a significant deal, agreeing to acquire Odds Holdings for $160 million contingent on the performance of OddsJam and other brands through the end of 2026. This acquisition marks a key step in Gambling.com Group’s strategy to expand its presence in the online gambling industry.
Odds Holdings, which operates OddsJam, a platform delivering real-time betting odds to users, is known for its cutting-edge technology. OddsJam processes over one million requests per second and manages multiple terabytes of data daily from nearly 300 sportsbooks. This platform’s advanced capabilities have established it as one of the industry’s leading odds providers.
Gambling.com Group views this acquisition as an opportunity to broaden its revenue sources. With both consumer-facing and enterprise clients, the group expects a steady increase in recurring revenue. The purchase is part of a larger strategy to reach $100 million in adjusted EBITDA, with the deal anticipated to be immediately accretive to the group’s operating results.
Charles Gillespie, co-founder and CEO of Gambling.com Group, emphasized the strategic value of the acquisition: “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.”
A Strong Team and Growth Potential
As part of the deal, the Odds Holdings team, including CEO Matt Restivo and co-founders Ankit Goyal and Alex Monahan, will join Gambling.com Group. This talented team brings valuable experience in building state-of-the-art odds technology and managing multiple distinct products.
Restivo expressed optimism about the future: “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.”
For 2024, Odds Holdings is expected to generate $26 million in revenue and $12 million in adjusted EBITDA. Gambling.com Group aims to close the deal on January 1, 2025, pending customary conditions.
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