Gambling.com Group has announced its agreement to acquire Odds Holdings, the parent company of the sports betting odds comparison site OddsJam, in a deal worth up to $160 million. The acquisition, which marks a significant milestone for Gambling.com Group, aims to expand its reach in the sports betting and online gambling markets.
Deal Structure and Financials
The agreement involves an initial payment of $80 million, with the possibility of an additional $80 million based on Odds Holdings’ performance through 2026. The transaction includes $70 million in cash and $10 million in Gambling.com Group shares as part of the initial payment.
To facilitate the deal, Gambling.com Group secured $100 million in debt financing from Wells Fargo, boosting its credit facility. The performance-based contingent payments require Odds Holdings to double its adjusted EBITDA by 2026, with the option to pay up to 50% of this amount in company shares.
A Technological Edge
OddsJam, the flagship brand of Odds Holdings, delivers real-time sports betting odds through its consumer-facing platform and app. The platform is also a leader in providing low-latency odds data to enterprise clients, making it a highly sought-after tool for sportsbooks and developers.
Gambling.com Group highlighted OddsJam’s advanced technology, which processes over one million requests per second and handles multiple terabytes of data daily across nearly 300 sportsbooks. This acquisition will enable Gambling.com Group to offer innovative enterprise products while diversifying its revenue streams.
Expanding Global Reach
Gambling.com Group plans to leverage its existing partnerships and expertise to scale the OddsJam platform, extending its reach to new markets beyond North America. This move aligns with the company’s goal to achieve $100 million in annual adjusted EBITDA.
In 2024, Odds Holdings is projected to generate $26 million in revenue and $12 million in adjusted EBITDA. Gambling.com Group expects this acquisition to accelerate growth by at least 20% in 2025 under its management.
Team and Integration
The Odds Holdings team, including founders Ankit Goyal and Alex Monahan, along with CEO Matt Restivo, will join Gambling.com Group. This integration aims to combine OddsJam’s cutting-edge technology with Gambling.com’s industry expertise and global network.
“We’re excited to welcome the talented team from Odds Holdings to our group,” said Charles Gillespie, co-founder and CEO of Gambling.com Group. “Their advanced technology and products bring tremendous value, allowing us to expand into new revenue streams and strengthen our leadership in the online gambling industry.”
Matt Restivo, CEO of Odds Holdings, echoed the sentiment: “By joining forces with Gambling.com Group, we’re poised to scale our technology and data-driven solutions, reaching an even broader audience of online bettors globally.”
Looking Ahead
This acquisition represents Gambling.com Group’s latest strategic move in expanding its industry presence, following recent purchases of RotoWire, BonusFinder, and Freebets.com.
The deal is expected to close on 1st January 2025, pending customary regulatory approvals, and will immediately contribute to the company’s financial performance.
Gambling.com Group’s strategic acquisition of Odds Holdings is not only a testament to its growth ambitions but also a bold step toward reshaping the landscape of sports betting technology and affiliate marketing.
Government’s Online Gambling Regulation Plan
The New Zealand government has unveiled its plan to regulate the online gambling industry, sparking concerns among local casino operators. The proposed framework includes issuing 15 licenses for online casino operators, with these licenses to be auctioned to the highest bidders.
This move comes alongside the National Party’s campaign promise to impose a 12% gaming duty on gross betting revenue for offshore online casino operators. Closing this tax loophole is expected to generate $179 million annually over four years, totalling $719 million. However, with approximately double the number of operators currently active in New Zealand, the competition for licenses is expected to be fierce.
Local Casinos Fear Foreign Dominance
Local operators worry they could be outbid by offshore companies with substantial financial resources. These concerns stem from the belief that foreign operators, without ties to New Zealand, may lack the same commitment to community welfare and regulatory compliance.
Jason Walbridge, SkyCity’s chief executive, expressed support for a competitive market but stressed the importance of prioritising local businesses. “We’re a trusted brand in New Zealand. Kiwis know who we are,” Walbridge said in an interview with Nine to Noon. He urged the government to consider the economic and social benefits of licensing New Zealand-based operators.
“Offshore operators are massive companies with deep pockets. They can outbid local businesses easily,” Walbridge warned. He highlighted the need for the government to prioritise local operations to safeguard jobs and ensure compliance with host responsibility and anti-money laundering regulations.
Limiting Licenses: A Double-Edged Sword?
The government’s decision to cap licenses at 15 was met with mixed reactions. Walbridge noted that fewer operators would reduce aggressive marketing and excessive advertising. “No one wants to wake up to gambling ads on every device,” he said.
Brett Anderson, CEO of Christchurch Casino, echoed these concerns, arguing that the current plan overlooks the long-term benefits for New Zealand. While he acknowledged that local casinos are profit-driven, Anderson emphasised their deeper ties to the community. “Our employees live and work here. We have a social license to uphold and a door regulators can knock on,” he said.
Call for a New Approach
Both executives stressed that local operators are better positioned to minimise harm and maintain New Zealand’s social and regulatory standards. They called on the government to consider mechanisms beyond auctions to ensure licenses benefit the community, such as prioritising operators with local investments and commitments to responsible gambling.
As the online gambling landscape evolves, the government faces a critical decision: balance the allure of high auction bids against the long-term welfare of New Zealand’s economy and communities.
Rebranding for Growth and Innovation
Malta-based casino operator Videoslots has taken a bold step into the future, rebranding as Immense Group. The change marks a significant evolution from its origins as a single-brand online casino to a multi-brand operation managing five distinct platforms: Videoslots, Mr Vegas, Kungaslottet, Mega Riches, and DBET.
Co-founder Alexander Stevendahl, who continues as group CEO, emphasized the importance of the transformation:
“Adopting the Immense Group name shows our ambition to keep evolving and paving the way for future growth for each individual brand.”
The name “Immense” reflects the company’s core values of innovation, talent, and a commitment to excellence, aligning with its goal of delivering premium gaming experiences across global markets.
Jesper Kärrbrink Takes the Helm
In tandem with its rebrand, Immense Group has introduced a new corporate structure, appointing Jesper Kärrbrink as CEO of Immense Group AB, its newly established holding company based in Stockholm. Kärrbrink, a seasoned iGaming veteran, brings over 20 years of industry expertise, having held leadership roles at Mr Green, Svenska Spel, and several tech firms.
Kärrbrink described the rebrand as a pivotal moment for the company:
“With four additional brands and a new corporate structure, now is the perfect time to introduce a new umbrella brand that carries the strong Videoslots culture into its next chapter.”
Kärrbrink’s track record of scaling businesses and navigating complex regulatory landscapes makes him an ideal leader for Immense Group’s ambitious plans.
A Unified Identity, Individual Strengths
The rebrand does not affect the identities of Immense Group’s consumer-facing platforms, which will continue to operate independently. However, the company’s social media channels will adopt the new branding, reflecting either @Immense or @LifeAtImmense, depending on the platform.
While the corporate changes signal growth and modernization, the group remains committed to preserving the culture and values that made Videoslots a success story in the competitive iGaming industry.
Facing Challenges, Looking Ahead
The announcement comes shortly after a regulatory development in Sweden, where the Administrative Court upheld a penalty against Videoslots for anti-money laundering shortcomings, though the fine was reduced from SEK 9 million to SEK 4 million. Despite such challenges, Immense Group’s focus remains on driving innovation and growth across its portfolio.
As Immense Group, the company sets the stage for a new chapter in its journey, leveraging its impressive track record while aiming for even greater success in the rapidly evolving world of online gaming.
Lotteries Continue to Lead the Market
The latest survey by the Gambling Commission highlights that gambling participation in Great Britain has remained steady, with lotteries continuing to dominate the landscape. The findings, based on interviews with 4,657 adults conducted by NatCen between April and July 2024, reveal that 48% of adults participated in gambling activities in the past four weeks. This figure mirrors data from 2023 and earlier in 2024.
Interestingly, 20% of these participants engaged exclusively in lottery games, such as the National Lottery or charity lotteries. Excluding these lottery-only players, the overall gambling participation rate falls to 28%.
Growth in Online and Betting Activities
Online gambling continues to play a major role, with 37% of respondents engaging in digital gambling platforms. However, when lottery participants are excluded, this figure drops to 17%. Similarly, in-person gambling was reported by 29% of respondents, though only 18% participated in non-lottery gambling activities.
Betting emerged as a growing vertical, with participation increasing by more than three percentage points compared to earlier in 2024. Popular forms of betting include sports wagering and online instant-win games, which are gaining traction among younger demographics.
Demographics and Motivations
The survey provided key insights into the demographics of gamblers. Men aged 45 to 64 showed the highest overall gambling participation. However, when excluding lottery-only players, men aged 25 to 34 were the most active group. Respondents highlighted their main reasons for gambling as the opportunity to win significant amounts of money and the entertainment value it provides.
Methodological Changes and Future Insights
The Gambling Commission noted that changes in survey methodology make direct comparisons with previous years more challenging. Despite this, the data underscores the enduring appeal of lotteries and signals a growing interest in betting among British gamblers.
A further notable trend is the diversity of gambling preferences across age groups. While lotteries appeal to a broad range of players, younger audiences appear more inclined toward sports betting and online games, suggesting that the industry is evolving to cater to varying consumer interests.
The next wave of the Gambling Survey for Great Britain is scheduled for release in February 2025, offering a closer look at the nation’s gambling behaviours and potential shifts in trends.
In the recent report by Eilers-Fantini for November, IGT and Evolution emerged as dominant forces in the US online casino landscape, leading the top 10 slots charts. These studios vied for supremacy across various categories including top games by Gross Gaming Revenue (GGR), top slots, and new game rankings within Eilers & Krejcik’s comprehensive analysis.
Meanwhile, in Canada, Games Global, Pragmatic Play, and Light & Wonder fiercely contested the leading positions against the US’s top contenders within the Canadian supplier rankings.
US Performance Highlights
IGT’s popular Cash Eruption slot maintained its leadership position on the GGR charts, capturing 2.88% of GGR. Following closely were Aristocrat’s Buffalo and Evolution’s Live Dealer Lightning Roulette, illustrating a dynamic shuffle in top ranks from previous months.
Evolution’s presence was strongly felt with its Live Dealer Crazy Time and other games making significant climbs in the rankings, further emphasizing its impact on the US market. Amongst the top 25 games, the diversity was notable with slots dominating, accompanied by a few table and live casino games.
Standout New Entries and Rankings
A notable newcomer, IGT PlayDigital’s Mystery of the Lamp Treasure Oasis, debuted impressively in the rankings. Meanwhile, other games such as AGS’s Capital Gains and Gamecode’s Triple Stones saw shifts in their standings, indicating a volatile competition among top slots.
The top slots saw contributions from a dozen suppliers, including Light & Wonder and Evolution, each marking their territory with significant entries. New games such as 1×2 gaming’s 3 Porky Banks Hold and Win stirred the rankings, introducing fresh dynamics to the competition.
Canadian Market Insights
The Canadian section of the Eilers & Krejcik report illuminates online casino performance across five provinces, tracking significant shifts in game rankings and supplier standings. IGT’s Cash Eruption, despite a slight dip in its GGR share, continued to lead the pack, followed by new contenders shifting positions beneath.
Conclusion
The November report by Eilers-Fantini highlights the ongoing rivalry between top game suppliers and points out the changing preferences and dynamics within the North American online casino markets. This comprehensive analysis is a crucial benchmark for understanding market trends and player preferences as the year progresses.
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