Affiliate business Gambling.com Group has agreed a deal to acquire Odds Holdings, the parent company of sports betting odds comparison site OddsJam, for up to $160 million (£125.6 million/€152.3 million).
Under the agreement, Gambling.com Group will pay an initial €80 million to acquire Odds Holdings. An additional $80 million is due dependent on the performance of OddsJam and other brands through the end of 2026.
The flagship brand of Odds Holding, OddsJam delivers real-time betting odds information to users via a consumer-facing website and app. Odds Holding, under a separately managed company, also provides low latency odds data to enterprise clients.
According to Gambling.com Group, the odds platform that powers Odds Holding is the industry’s “most advanced”. It processes over one million requests per second and multiple terabytes of data on average daily, across nearly 300 sportsbooks.
By taking on the Odds Holding business, Gambling.com Group said it will expand its industry footprint. The group references new recurring revenue from both consumer and enterprise clients.
Gambling.com Group also talks up the opportunity to leverage existing partner relationships to significantly grow the Odds Holdings business. It also bills the acquisition as a “strategic and substantial step” towards its goal of achieving $100 million in adjusted EBITDA.
The acquisition the group said, will be immediately accretive to its operating results upon closing. For 2024, Odds Holdings expects to post $26 million in revenue and $12 million in adjusted EBITDA.
Gambling.com Group expects the purchase to close on 1 January 2025, subject to customary closing conditions.
As part of the deal, the Odds Holdings team will join Gambling.com Group. This includes OddsJam founders Ankit Goyal and Alex Monahan as well as CEO Matt Restivo.
Charles Gillespie, co-founder and CEO of Gambling.com Group, said the addition of the staff along with the technology will benefit the business in the long run.
“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,” Gillespie said.
“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. OddsJam in particular brings a passionate and energetic new consumer audience to the group.”
Odds Holdings CEO Restivo added: “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 represents the latest acquisition agreement for Gambling.com Group. In April, it also completed the purchase of Freebets.com and related assets less than two weeks after agreeing a deal.
