Gambling.com Group Revises OddsJam Earnout Payment Structure

Gambling.com Group has amended the payment terms for its acquisition of OddsJam, accelerating earnout payments that were originally linked to performance in 2026.

The online gambling marketing services provider entered into the amendment on 19 December 2025, revising the payment structure agreed with Odds Holdings shareholders under the original merger agreement signed in December 2024. The acquisition itself completed on 1 January 2025.

Under the updated terms, Gambling.com Group will pay a $40m earnout relating to 2025 performance by 31 December 2025. This payment will be made in cash and discounted by 10% on an annualised basis.

A further $40m earnout tied to 2026 performance will be payable on 1 April 2027, although the company retains the option to settle this amount earlier, with the same discount applied for early cash payment. The amendment also increases the proportion of the 2026 earnout that may be paid in ordinary shares from 50% to 70%, with the balance paid in cash.

When the deal was originally announced, Gambling.com Group agreed to acquire Odds Holdings for $80m in initial consideration, consisting of $70m in cash and $10m in shares. The transaction included contingent earnout payments of up to $80m, subject to performance through 2026, with full earnout achievement dependent on adjusted EBITDA from the Odds Holdings assets at least doubling compared to 2024 levels.

At the time of the announcement, Odds Holdings CEO Matt Restivo said:

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

The acquisition added OddsJam’s real-time odds data platform to Gambling.com Group’s portfolio, with the technology processing more than one million requests per second across close to 300 sportsbooks. For 2024, Odds Holdings expected to generate revenue of approximately $26m and adjusted EBITDA of $12m.