SBC News Voice of the Sports Betting Industry
Gambling.com Group has entered a ‘definitive agreement’ to acquire Odds Holdings Inc, the parent company of OddsJam, in a move that highlights its strategic growth within the global online gambling industry.
Deal-makers disclosed that Gambling.com has “offered an initial consideration of $80 million for the acquisition, with the potential for an additional $80 million based on Odds Holdings’ business performance through the end of 2026.”
The transaction is expected to close on 1 January 2025, subject to customary conditions, and will immediately enhance Gambling.com’s financial performance.
OddsJam provides a suite of tools and services designed to assist in sports betting. Its flagship offering is a comprehensive odds comparison tool, which allows users to compare real-time odds from over 300 sportsbooks.
During Q3, Gambling.com delivered its strongest performance to date, with Nasdaq-listed media group reporting a 21% increase in revenue to $91m, a 91% surge in net income to $22.7m, and a 30% growth in Adjusted EBITDA to $34m. Record results prompted its leadership to signal to markets that it is actively pursuing new M&A opportunities to strengthen and diversify its commercial development.
Gambling.com CEO Charles Gillespie emphasised, “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.”
The acquisition is expected to immediately enhance Gambling.com Group’s financial results while advancing its strategic goal of achieving $100 million in annual Adjusted EBITDA. Investors were informed, “For 2024, Odds Holdings expects to generate revenue and Adjusted EBITDA(1) of approximately $26 million and $12 million, respectively. Gambling.com Group expects that under its management, Adjusted EBITDA(1) derived from the Odds Holdings assets will grow by at least 20% in 2025.”
Gambling.com will integrate the technology of Odds Holdings, which is built for scalability and capable of processing over one million requests per second while managing multiple terabytes of data daily. Its flagship brand, OddsJam, delivers premium, real-time odds data for sports bettors while also providing enterprise clients with low-latency, comprehensive odds data solutions for a variety of use cases.
Post-acquisition, OddsJam founders Ankit Goyal and Alex Monahan, along with CEO Matt Restivo, will join Gambling.com. By leveraging Gambling.com’s resources and expertise, the integration aims to scale Odds Holdings’ advanced technology and expand its reach to a broader global audience.
Matt Restivo commented, “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.”
