Gambling.com Group has announced its agreement to acquire Odds Holdings, the parent company of the sports betting odds comparison site OddsJam, in a deal worth up to $160 million. The acquisition, which marks a significant milestone for Gambling.com Group, aims to expand its reach in the sports betting and online gambling markets.
Deal Structure and Financials
The agreement involves an initial payment of $80 million, with the possibility of an additional $80 million based on Odds Holdings’ performance through 2026. The transaction includes $70 million in cash and $10 million in Gambling.com Group shares as part of the initial payment.
To facilitate the deal, Gambling.com Group secured $100 million in debt financing from Wells Fargo, boosting its credit facility. The performance-based contingent payments require Odds Holdings to double its adjusted EBITDA by 2026, with the option to pay up to 50% of this amount in company shares.
A Technological Edge
OddsJam, the flagship brand of Odds Holdings, delivers real-time sports betting odds through its consumer-facing platform and app. The platform is also a leader in providing low-latency odds data to enterprise clients, making it a highly sought-after tool for sportsbooks and developers.
Gambling.com Group highlighted OddsJam’s advanced technology, which processes over one million requests per second and handles multiple terabytes of data daily across nearly 300 sportsbooks. This acquisition will enable Gambling.com Group to offer innovative enterprise products while diversifying its revenue streams.
Expanding Global Reach
Gambling.com Group plans to leverage its existing partnerships and expertise to scale the OddsJam platform, extending its reach to new markets beyond North America. This move aligns with the company’s goal to achieve $100 million in annual adjusted EBITDA.
In 2024, Odds Holdings is projected to generate $26 million in revenue and $12 million in adjusted EBITDA. Gambling.com Group expects this acquisition to accelerate growth by at least 20% in 2025 under its management.
Team and Integration
The Odds Holdings team, including founders Ankit Goyal and Alex Monahan, along with CEO Matt Restivo, will join Gambling.com Group. This integration aims to combine OddsJam’s cutting-edge technology with Gambling.com’s industry expertise and global network.
“We’re excited to welcome the talented team from Odds Holdings to our group,” said Charles Gillespie, co-founder and CEO of Gambling.com Group. “Their advanced technology and products bring tremendous value, allowing us to expand into new revenue streams and strengthen our leadership in the online gambling industry.”
Matt Restivo, CEO of Odds Holdings, echoed the sentiment: “By joining forces with Gambling.com Group, we’re poised to scale our technology and data-driven solutions, reaching an even broader audience of online bettors globally.”
Looking Ahead
This acquisition represents Gambling.com Group’s latest strategic move in expanding its industry presence, following recent purchases of RotoWire, BonusFinder, and Freebets.com.
The deal is expected to close on 1st January 2025, pending customary regulatory approvals, and will immediately contribute to the company’s financial performance.
Gambling.com Group’s strategic acquisition of Odds Holdings is not only a testament to its growth ambitions but also a bold step toward reshaping the landscape of sports betting technology and affiliate marketing.
