Gambling.com Group to acquire OddsJam in $160 million

Anchal Verma December 13, 2024

SiGMA news

Gambling.com Group has signed 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 $80 million, with an additional $80 million contingent on performance through 2026. The transaction is set to close on 1 January 2025.

Game-changing technology integration

Odds Holdings provides enterprise clients with critical data for sports betting applications. Meanwhile, OddsJam’s platform processes over a million requests per second, delivering real-time odds data from nearly 300 sportsbooks.

Gambling.com Group’s CEO, Charles Gillespie, said, “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 earnings before interest, tax, depreciation and amortisation (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.”

Financial boost and growth potential

Odds Holdings is expected to generate $26 million in revenue and $12 million in adjusted EBITDA in 2024, with projected growth of at least 20 percent in 2025.

Odds Holdings CEO Matt Restivo added, “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 deal will be financed through cash, shares, and a $100 million credit facility secured with Wells Fargo.