Gambling.com Group closes acquisition for Odds Holdings
The transaction wrapped up on schedule, according to the company.
Key Points
- Gambling.com Group said the acquisition will expand its footprint and strengthen its position in the market
- Odds Holdings is the parent company of OddsJam, which was recently sued by Swish Analytics
Affiliate Gambling.com Group has wrapped up its previously announced acquisition of Odds Holdings.
The affiliate said closing the deal was “as planned and on schedule.”
Gambling.com Group said in a statement, “The completion of this acquisition underscores Gambling.com Group’s ability to execute strategic transactions efficiently and without delay. This acquisition expands Gambling.com Group’s footprint in the online gambling ecosystem by adding complementary recurring revenue streams from consumer subscription products and enterprise clients.
“The Odds Holdings platform, powered by state-of-the-art technology for real-time odds data, strengthens the company’s position as a leader in the global online gambling ecosystem.”
Odds Holdings is the parent company of OddsJam, one of two groups recently sued by sports wagering oddsmaker Swish Analytics. Swish filed a lawsuit with the Superior Court of California against Oddsjam and OpticsOdds with the Superior Court of California.
According to court documents, Swish Analytics alleged that both companies have “companies misappropriated Swish’s proprietary sports betting odds information directly off its sportsbook clients’ websites and then republished and sold access to that information to others.”
Good to know: Gambling.com Group was founded in 2006
As a result, Swish Analytics claimed that this activity has caused more than $100m in damages. The company has provided screenshots of odds that were allegedly recreated on the other sportsbooks.
The complaint went on to call for an end to both “misappropriation” and “unfair competition.” “Swish conservatively estimates that the damage caused by Defendants’ conduct is at least $100m, and likely significantly more,” the complaint read.
The complaint further explained, “By free riding on Swish’s hard work and investment, Defendants are reaping where they have not sown and are destroying the incentives for Swish and other independent developers of sports-related odds information to continue investing the time, effort, and money to independently generate that odds information.”
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