Mentioned:
GAMB -0.42% FLUT -0.30%
The business of sports betting continues to get bigger and bigger. And now, there’s a new acquisition from a publicly traded company.
What’s happening:
- Gambling.com Group (NASDAQ: GAMB) has announced they will acquire Odds Holdings for up to $160M USD
Why it matters:
- Odds Holdings is the parent company of OddsJam which is one of the leading technology platforms for providing real time odds data for sports betting
By the numbers:
- Gambling.com Group will pay $80M USD up front to buy Odds Holdings, with another $80M USD in potential milestone payments over the next 24 months
- OddsJam’s platform currently processes 1M requests per second across 300 different sports books
Going deeper:
- This is not the first acquisition Gambling.com Group has recently made focused on sports betting, previously buying popular affiliate platform FreeBets.com
- Flutter Entertainment (NYSE: FLUT) has also been ramping up their acquisitions in sports betting on a global scale, previously purchasing a majority stake in Brazil based Betnacional in a multi hundred million dollar deal
