The initial purchase price is set at $80 million, with an additional $80 million contingent on performance through 2026.

Gambling.com Group has announced a definitive agreement to acquire Odds Holdings, the parent company of OddsJam, in a deal valued at up to $160 million.

The initial purchase price is set at $80 million, with an additional $80 million contingent on performance through 2026. This strategic acquisition will see OddsJam’s advanced technology platform, which delivers real-time odds data for nearly 300 sportsbooks, seamlessly integrated into Gambling.com Group’s operations.

OddsJam, the flagship brand, provides real-time odds insights for consumers through its website and mobile app, while Odds Holdings supports enterprise clients with data for sports betting applications. The OddsJam platform processes over a million requests per second, handling vast amounts of data daily.

The transaction is expected to close on January 1, 2025, and will immediately contribute to Gambling.com Group’s financial performance. It brings recurring revenue streams from both consumer subscriptions and enterprise partnerships.

For 2024, Odds Holdings forecasts $26 million in revenue and $12 million in adjusted EBITDA, with projected growth of at least 20% under Gambling.com Group’s management in 2025.

Gambling.com Group’s CEO, Charles Gillespie, highlighted the importance of the acquisition:

“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.

We are delighted to welcome the Odds Holdings team to Gambling.com Group as we accelerate growth towards our goal of $100 million 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.”

As part of the acquisition, the Odds Holdings leadership team, including founders Ankit Goyal and Alex Monahan and CEO Matt Restivo, will join Gambling.com Group.

“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,” Gillespie added.

Odds Holdings CEO Matt Restivo commented on the merger:

“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.”

The acquisition will be financed through a combination of cash, shares, and an expanded $100 million credit facility secured with Wells Fargo.

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