Gambling.com Group snags Odds Holdings for $160m

Gambling.com Group is closing the year with big news, as one of the world’s largest gambling companies is buying out rival Odds Holdings, Inc. for a total of $160m.

The deal is expected to close on January 1, 2025, and will see Odds Holdings shareholders receive $80m at first, with an additional $80m to be paid based on performance through the end of 2026. Gambling.com Group is paying $70m in cash and another $10m in the Group’s ordinary shares.

Gambling.com Group snags cutting-edge odds provider

Odds Holdings, Inc. is a multi-pronged company that has focused on building robust proprietary technology used for real-time odds data and services and has developed the popular OddsJam product. Presently, the platform provides data to 300-odd sportsbooks and has one of the industry’s largest processing capacities.

Gambling.com Group is enjoying the strong financial momentum it has generated, including a 27.6% in revenue results in the past 12 months to $124.4m, which has allowed it to be bolder when it comes to the deal. The third quarter was particularly strong for Gambling.com Group, with revenue hitting $332.1m or a 37% jump year-over-year.

The Group is similarly retaining the talent behind Odds Holdings, which will include founders Ankit Goyal and Alex Monahan, but similarly the current chief executive, Matt Restivo. Restive has welcomed the opportunity to combine the business and benefit from Gambling.com Group’s momentum and clout:

"Combining with a tech-focused leader in the global online gambling industry like Gambling.com Group is the natural next step for Odds Holdings.

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."

Gambling.com Group looks to expand into new markets

Although Gambling.com Group has not been able to fully capitalize on the North American market, which has seen other rival companies struggle as well, the firm remains poised to pursue growth in places such as Colombia, Peru, and Brazil.

This is one of the largest deals of the year, although it still pales in comparison to multi-billion bids such as the one placed by Française des Jeux for Kindred Group, which fetched €2.45bn.

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