Gambling.com Group has announced a significant step in enhancing its market position with a definitive agreement to acquire
Odds Holdings, the parent company of
OddsJam, for up to $160 million. The transaction will be funded through a mix of cash, shares, and an expanded $100 million credit facility secured with
Wells Fargo. The acquisition is expected to close on
1 January 2025 and will immediately bolster Gambling.com Group’s financial performance with new revenue streams.
The deal begins with an initial purchase price of $80 million, with the potential for an additional $80 million contingent on performance through 2026. By integrating OddsJam’s cutting-edge technology platform, which delivers real-time odds data from nearly 300 sportsbooks, Gambling.com Group aims to strengthen its portfolio and expand its capabilities in providing advanced solutions to both consumers and enterprise clients.
OddsJam’s flagship platform processes over one million requests per second, handling terabytes of data daily. This robust technology will enhance Gambling.com Group’s offerings, similar to how
casino studio online providers deliver seamless live gaming experiences. The acquisition reflects Gambling.com Group’s strategy to diversify its product suite, adding recurring revenue streams independent of its existing online gambling affiliate business.
The inclusion of Odds Holdings’ technology is projected to generate $26 million in revenue and $12 million in adjusted EBITDA in 2024, with expected growth of at least 20% in 2025 under Gambling.com Group’s management. This growth aligns with industry trends, where demand for
low-cost live studio betting environments and high-performance platforms is steadily increasing.
Charles Gillespie, CEO of Gambling.com Group, emphasized the strategic significance of the acquisition:
“The accretive acquisition of Odds Holdings will immediately provide Gambling.com Group with additional recurring revenue streams, consistent with our strategy to expand our footprint in the online gambling industry. Their talented team has built a state-of-the-art odds technology platform with products that have clear product-market fit, accelerating our growth toward $100 million in Adjusted EBITDA.”
This move not only strengthens Gambling.com Group’s technological capabilities but also integrates Odds Holdings’ leadership team into the organization. Founders
Ankit Goyal and
Alex Monahan, along with CEO
Matt Restivo, will join Gambling.com Group, bringing their expertise in real-time odds technology and consumer engagement.
Matt Restivo expressed enthusiasm for the acquisition, stating:
“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 can scale our technology and data-driven insights to reach a larger audience, including beyond the North American market.”
The acquisition also highlights Gambling.com Group’s focus on expanding its footprint in the global online gambling ecosystem, which includes innovations seen in
live dealer roulette and partnerships with
game developers to create engaging user experiences. By tapping into OddsJam’s technology, Gambling.com Group is poised to attract a broader audience of online bettors while establishing itself as a leader in the space.
This deal underscores the growing importance of advanced technology and real-time data in the online gambling industry, much like the transformative impact of
casinos for sale initiatives and
Evolution Games’ offerings in the live gaming sector. With a strong focus on innovation, Gambling.com Group is set to redefine the online betting landscape and continue its trajectory of growth.
Stay tuned to CasinoTV News for more updates on this landmark acquisition and its implications for the global gambling industry.
