Key points:
- Gambling.com Group to acquire Odds Holdings for up to $160m
- The transaction adds real-time odds data technology to Gambling.com Group’s portfolio
- The acquisition is set to close on 1 January 2025 and is expected to immediately enhance Gambling.com Group’s financial performance
Gambling.com Group has announced a definitive agreement to acquire Odds Holdings, the parent company of OddsJam.
The initial purchase price is $80m, with the potential for an additional $80m contingent on performance through 2026.
This acquisition will integrate OddsJam’s technology platform, which delivers real-time odds data across nearly 300 sportsbooks, into Gambling.com Group’s operations.
OddsJam, the flagship brand, provides odds insights for consumers through its website and app, while Odds Holdings serves enterprise clients with data for sports betting applications. The platform processes over a million requests per second, handling terabytes of data daily.
The transaction, expected to close on 1 January 2025, will immediately contribute to Gambling.com Group’s financial results, adding recurring revenue streams from both consumer subscriptions and enterprise partnerships.
For 2024, Odds Holdings anticipates generating $26m in revenue and $12m in adjusted EBITDA, with projected growth of at least 20% under Gambling.com Group’s management in 2025.
Gambling.com Group’s CEO, Charles Gillespie, emphasised the significance of the acquisition, stating: “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.
“We are delighted to welcome the Odds Holdings team to Gambling.com Group as we accelerate growth towards our goal of $100m in Adjusted EBITDA. 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.
Good to know: As part of the acquisition, the Odds Holdings team – including founders Ankit Goyal and Alex Monahan and CEO Matt Restivo – will join the Gambling.com Group
“Odds Holdings gives Gambling.com Group a suite of new enterprise products while OddsJam in particular brings a passionate and energetic new consumer audience to the Group.”
Odds Holdings CEO Matt Restivo added: “Combining with a tech-focused leader in the global online gambling industry like Gambling.com Group is the natural next step for Odds Holdings.
“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.”
The deal will be funded through a mix of cash, shares and an expanded $100m credit facility secured with Wells Fargo.
