Gambling.com Group is acquiring the parent company of sports betting odds service OddsJam for an initial US$80m, in a move which it says will enhance revenue potential.
Odds Holdings offers odds data and services under multiple consumer and enterprise brands and works with nearly 300 sportsbooks.
OddsJam is its flagship brand and under a separately managed company, Odds Holdings provides low-latency odds data to enterprise clients.
Gambling.com Group said the initial $80m move will offer “recurring revenue” from both consumer and enterprise clients.
There is an opportunity to leverage Gambling.com Group’s partner relationships to “significantly grow” the Odds Holdings enterprise business, it said.
And the “immediately accretive transaction adds new revenue, adjusted EBITDA and free cash flow streams, with a margin profile even better than Gambling.com Group’s already high margins,” the business continued, adding that it is a “strategic and substantial step toward the company’s stated goal to generate $100m in annual adjusted EBITDA.”
Gambling.com Group will pay an initial $70m in cash and $10m in ordinary shares for Odds Holdings.
The acquiring company will pay another $80m if Odds Holdings’ adjusted EBITDA doubles for the full year 2026 period compared to 2024.
For 2024, Odds Holdings expects to generate revenue and adjusted EBITDA of approximately $26m and $12m, respectively.
Gambling.com Group said that under its management, adjusted EBITDA derived from the Odds Holdings assets will grow by at least 20 per cent in 2025.
OddsJam founders Ankit Goyal and Alex Monahan, as well as CEO Matt Restivo, will join Gambling.com Group.
“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,” said Gambling.com Group co-founder and CEO, Charles Gillespie.
“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.
“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.”
“Combining with a tech-focused leader in the global online gambling industry like Gambling.com Group is the natural next step for Odds Holdings,” said Restivo.
Goyal and Monahan added: “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.
“We’re looking forward to working with the Gambling.com Group founders Charles and Kevin and their team to create a deeper connection with our customers to enhance their online gambling experiences.”
