Business
Gambling.com Group Acquires Odds Holdings in $160M Deal
Gambling.com Group is taking a bold step into the future of online betting with its acquisition of Odds Holdings.
This $160 million deal enhances the group’s capabilities with state-of-the-art real-time odds data technology, a game-changer for sportsbooks and bettors alike.
By integrating OddsJam’s platform, Gambling.com Group aims to elevate the betting experience for consumers and enterprise clients worldwide.
Dive into how this acquisition solidifies Gambling.com Group’s position as an industry leader and what it means for the future of sports betting.
Gambling.com Group Acquires Odds Holdings to Revolutionize Real-Time Odds Technology
Key Points
- Gambling.com Group acquires Odds Holdings for up to $160 million, with an initial payment of $80 million.
- The deal brings real-time odds data and new enterprise products, enhancing revenue streams beyond affiliate business.
- The acquisition is expected to close on January 1, 2025, boosting Gambling.com Group’s financial performance immediately.
Gambling.com Group Expands with Odds Holdings Acquisition
In a strategic move to broaden its market influence, Gambling.com Group has announced the acquisition of Odds Holdings, the parent company of the innovative OddsJam platform. The deal, valued at up to $160 million, underscores Gambling.com Group’s commitment to leveraging advanced technology and creating new revenue streams within the online gambling industry.
A Game-Changing Addition
The acquisition centers on OddsJam, a cutting-edge platform that processes real-time odds data from nearly 300 sportsbooks. This technology powers consumer-focused tools and enterprise-grade data solutions, handling over 1 million requests per second. Its precision and speed make it indispensable for both individual bettors and industry stakeholders.
Gambling.com Group CEO Charles Gillespie highlighted the deal’s transformative potential:
“The accretive acquisition of Odds Holdings will immediately provide Gambling.com Group with additional, recurring revenue streams independent of our affiliate business. This aligns with our goal to reach $100 million in Adjusted EBITDA.”
Odds Holdings isn’t just a platform; it’s a suite of enterprise products and a passionate consumer base through OddsJam. These assets position Gambling.com Group as a leader in tech-driven betting innovation.
Boosting Financial Performance
Expected to close on January 1, 2025, the deal is projected to immediately enhance financial results. Odds Holdings forecasts $26 million in revenue and $12 million in adjusted EBITDA for 2024, with anticipated growth of at least 20% in 2025 under new management.
To fund the acquisition, Gambling.com Group has secured a mix of cash, shares, and a $100 million expanded credit facility from Wells Fargo.
Key Figures Joining the Team
The Odds Holdings leadership team, including founders Ankit Goyal and Alex Monahan, along with CEO Matt Restivo, will integrate into Gambling.com Group. Their expertise will play a vital role in scaling the platform’s capabilities.
Restivo expressed optimism about the merger:
“By leveraging Gambling.com Group’s expertise, innovation, and resources, we are poised to scale our technology to reach a global audience.”
The Road Ahead
This acquisition cements Gambling.com Group’s position as a trailblazer in the sports betting industry, offering unmatched tools and data-driven insights. With plans to expand beyond North America, the group is set to redefine the global online betting landscape.
The Odds Holdings acquisition represents a milestone for Gambling.com Group, blending cutting-edge technology with a proven track record of success. As the group integrates real-time odds data solutions into its operations, it’s clear that the future of sports betting will be defined by innovation, precision, and unparalleled user experiences.
This deal isn’t just an expansion; it’s a bold declaration of Gambling.com Group’s intent to lead the industry into its next chapter.