Super affiliate Gambling.com Group has acquired the parent company of US betting tool subscription site OddsJam for an initial $80 million (€76.2m/£62.8m).
CEO Charles Gillespie said the immediately accretive acquisition of a suite of new enterprise products would provide additional recurring revenue streams independent of its core igaming affiliate business. OddsJam derives circa 20% of revenue from affiliation, co-founder Alex Monahan revealed in an interview with iGBA last year.
“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”, said Gillespie.
Odds Holdings' stockholders are in line to receive an additional $80 million if the business doubles its expected 2024 adjusted EBITDA of $12 million in FY26. OddsJam founders Monahan and Ankit Goyal, along with CEO Matt Restivo, will join GDC Group.
Restivo added that tapping Gambling.com Group’s expertise, innovation and resources would enable OddsJam to scale its tech and “reach an even larger audience of online bettors, including beyond the North American market”.
OddsJam's suite of consumer-facing sports betting tools and services include a real-time odds comparison tool, a Positive EV tool to identify profitable betting opportunities, an arbitrage betting tool and a parlay builder for creating custom parlay bets.
Gambling.com Group will fund the initial $80 million payment with $70 million in cash from its expanded credit facility and $10 million in ordinary shares. The Nasdaq-listed business will be able to settle up to 50% of the potential $80 million contingent consideration in shares.
The transaction is expected to close on 1 January 2025.