Gambling.com Acquires OddsJam in $160M Deal to Boost Industry Presence
Gambling.com Group, a leading affiliate in the online gambling sector, has announced its acquisition of Odds Holdings, the parent company of the odds comparison platform OddsJam. The transaction, valued at up to $160 million (AUD $246 million), includes an initial payment and a performance-based earnout.
Key Details of the Deal:
- Gambling.com Group will pay $80 million upfront, with an additional $80 million contingent on OddsJam’s performance by the end of 2026.
- OddsJam, the flagship brand of Odds Holdings, offers real-time sports betting odds through its website and app, while also providing low-latency odds data to professional clients.
Technological Strengths:
The acquisition highlights the advanced technology platform of Odds Holdings, which processes over a million queries per second and handles several terabytes of data daily from nearly 300 betting operators. Gambling.com described the platform as one of the most sophisticated in the industry.
Strategic Expansion Plans:
Gambling.com Group aims to leverage this acquisition to:
- Strengthen its market position with new, recurring revenue streams from both consumer and enterprise sectors.
- Capitalise on existing partnerships to accelerate the growth of Odds Holdings.
- Move closer to achieving its strategic goal of $100 million in adjusted EBITDA.
Timeline and Financial Impact:
The acquisition is set to finalise on 1 January 2025, subject to standard closing conditions. Gambling.com expects the deal to have an immediate positive impact on its operational results. Odds Holdings forecasts $26 million in revenue and $12 million in adjusted EBITDA for 2024.
Leadership and Vision:
The leadership team of Odds Holdings, including founders Ankit Goyal and Alex Monahan and CEO Matt Restivo, will join Gambling.com Group. Charles Gillespie, CEO of Gambling.com Group, commented on the acquisition:
“The acquisition of Odds Holdings provides immediate new streams of recurring revenue. Their talented team has built an industry-leading technology platform and innovative products that align perfectly with market demand.”
Matt Restivo, CEO of Odds Holdings, added:
“With Gambling.com Group’s expertise and resources, we can expand our reach to a wider audience beyond North America.”
This acquisition marks another strategic move for Gambling.com Group, following its purchase of Freebets.com earlier this year, and underscores its commitment to scaling its global operations and enhancing its technological capabilities.
