Standout startup
Performance marketing company Gambling.com Group has agreed to buy sports betting startup OddsJam, one of the Betting Products of the Year finalists at the 2024 American Gambling Awards.
odds platform the “industry’s most advanced”
As organizer of the awards, Gambling.com was well-positioned to note the performance of the Odds Holding sub-brand and declare its odds platform the “industry’s most advanced.”
According to Bloomberg, Gambling.com will acquire Odds Holdings for $80m up front. The same amount applies for milestone payments subject to Odds’ performance throughout 2026, giving the total deal a
$160m price tag.
Gambling.com’s Odds buyout is the latest strategic move by the Channel Island of Jersey-based firm to deepen its online gambling footprint.
Gambling.com on a roll
Following previous purchases of Freebets.com, RotoWire, and BonusFinder, Gambling.com now has a real-time odds platform capable of processing “over 1 million requests per second and managing multiple terabytes of daily data across nearly 300 sportsbooks.”
Gambling.com Group’s CEO Charles Gillespie said the Odds acquisition would “immediately provide […] additional, recurring revenue streams” independent of his firm’s online gambling affiliate business.
The CEO also stated the buyout aligns with Gambling.com’s strategic target of $100m in annual adjusted EBITDA. Following its expectation that 2024 will end with $26m in revenue and $12m in adjusted EBITDA, the company projects minimum growth of 20% in 2025.
Under the deal, OddsJam’s leadership team, which includes its two founders and its CEO Matt Restivo, will join Gambling.com.
Eyes on growth
Restivo stated the tie-up with “a tech-focused leader in the global online gambling industry” was part of an organic growth process for his brand.
The OddsJam exec added that the deal would allow his firm to pivot off Gambling.com’s know-how, innovation, and resources and “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 is slated to close January 1 and according to media reports is “expected to immediately enhance Gambling.com Group’s operating results.”
