Gambling.com Acquires Sports Betting Startup OddsJam for $160 Million
Online betting platform Gambling.com acquires finalist for the best US betting product, OddsJam, in a notable $160 million deal.
Performance marketing company Gambling.com Group has announced its agreement to purchase sports betting startup OddsJam, a finalist in the 2024 American Gambling Awards' Betting Products of the Year category. Known for its "industry-leading" odds platform, OddsJam is set to bolster Gambling.com's online gambling footprint.
According to Bloomberg, the deal involves an initial $80 million upfront payment, with an additional $80 million payable as milestone payments contingent upon OddsJam's performance through 2026. This brings the total acquisition price to $160 million.
This acquisition marks a strategic move by Gambling.com, based in the Channel Islands of Jersey, to consolidate its position in the global online gambling industry. The firm has already made headway with previous acquisitions of Freebets.com, RotoWire, and BonusFinder. The incorporation of OddsJam allows Gambling.com to process over 1 million requests per second and manage multiple terabytes of daily data across nearly 300 sportsbooks.
Charles Gillespie, CEO of Gambling.com Group, expressed optimism about the acquisition, stating it would provide "additional, recurring revenue streams" independent of Gambling.com's online gambling affiliate business. He also emphasized that this move aligns with the company's strategic goal of achieving $100 million in annual adjusted EBITDA. With expectations of ending 2024 with $26 million in revenue and $12 million in adjusted EBITDA, Gambling.com plans for at least 20% growth in 2025.
Under the terms of the deal, OddsJam's leadership team, including its co-founders and CEO Matt Restivo, will join Gambling.com.
Restivo, OddsJam's CEO, viewed the partnership as part of his brand's organic growth process. He expressed confidence that the deal would enable OddsJam to leverage Gambling.com's expertise, innovation, and resources to scale its technology and data-driven insights, reaching a broader audience of online bettors, even beyond the North American market. The deal is expected to close on January 1, 2025, and is anticipated to enhance Gambling.com Group's financial results immediately.
Strategic Rationale and Impact
By acquiring OddsJam, Gambling.com has significantly expanded its sports data offerings. The combination of these services enhances the quality and comprehensiveness of data and analytics tools within the growing sports betting ecosystem. This acquisition has fueled a surge in recurring subscription revenue, accounting for over 20% of Gambling.com’s total revenue in 2025.
The acquisition has contributed to the company's record quarterly revenue of $40.6 million in Q1 2025, marking a 39% year-over-year increase. The sports data services business, driven by OddsJam, has significantly boosted gross profit and adjusted EBITDA. Free cash flow has also increased 25% year-over-year, reflecting the positive financial impact of the acquisition. Since the acquisition's closing on January 1, 2025, Gambling.com has made substantial progress integrating OddsJam’s technology and services into its broader business, with the products performing strongly and contributing to the company’s strategic objectives.
In summary, the acquisition of OddsJam strategically strengthens Gambling.com's market position by boosting its sports data services, increasing recurring revenues, enhancing profitability, and supporting growth targets through an expanded, integrated offering. This aligns well with Gambling.com’s pursuit of sustained financial performance and competitive advantage in the evolving sports betting industry.
- The acquisition of OddsJam by Gambling.com Group has expanded their technology offerings in the casino-and-gambling industry, as OddsJam's industry-leading odds platform brings an increased capacity to process data and cater to a broader audience.
- Post-acquisition, OddsJam's technology serves as a vital component of Gambling.com's strategic goals, contributing to their recurring subscription revenue and positioning them for growth in the global technology-driven casino-and-gambling market.
