Gambling.com Group acquires OddsJam in $160m deal

Gambling.com Group has inked a deal to acquire Odds Holdings, the parent company of OddsJam, in a strategic move to broaden its footprint in the online gambling industry.

The deal, valued at up to $160m, includes an initial payment of $80m, with the potential for an additional $80m contingent on Odds Holdings’ performance through 2026.

The transaction marks Gambling.com Group’s largest acquisition to date and a significant milestone for the company, enhancing its portfolio with OddsJam’s cutting-edge technology and robust real-time odds platform.

Gambling.com Group believes the odds platform is the “industry’s most advanced”, capable of processing over 1 million requests per second and managing multiple terabytes of daily data across nearly 300 sportsbooks.

Expanding reach and revenue

OddsJam, the flagship brand of Odds Holdings, empowers sports bettors with premium, real-time odds through its website and app.

The platform also supplies comprehensive, low-latency odds data to enterprise clients for sports betting applications.

Gambling.com Group plans to leverage this technology to generate recurring revenue and expand its enterprise business.

“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,” said Gambling.com Group co-founder and CEO, Charles Gillespie.

Gillespie highlighted that the addition of Odds Holdings aligns with the company’s strategic goal of reaching $100m in annual adjusted EBITDA.

In 2024, Odds Holdings expects to generate $26m in revenue and $12m in adjusted EBITDA, with projected growth of at least 20% under Gambling.com management in 2025.

Team integration

OddsJam’s leadership team, including founders Ankit Goyal and Alex Monahan, and CEO Matt Restivo, will join Gambling.com 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.

“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,” he added.

Financial structure

The deal involves an initial payment of $70m in cash and $10m in Gambling.com Group ordinary shares.

To fund the acquisition, the company has secured a $100m debt financing commitment from Wells Fargo, enabling it to expand its credit facility.

To unlock the additional $80m in contingent payments, Odds Holdings must double its adjusted EBITDA by 2026 compared to 2024.

Gambling.com Group retains the option to pay up to 50% of the contingent amount in its ordinary shares.

This acquisition represents the latest in Gambling.com Group’s series of strategic expansions, following previous purchases of RotoWire, BonusFinder, and Freebets.com.

The deal is set to close on 1 January, pending customary conditions, and is expected to immediately enhance Gambling.com Group’s operating results.

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