OddsJam
👤 Alex Monahan & Ankit Goyal (Stanford math/CS classmates and pro bettors. They built the odds engine to win their own bets first, then sold access.)🌐 site𝕏LinkedIn
They productized their own edge — the terminal two pros built to beat the books, then rented it out.
Will it work? · our read
Rented their edge. A rare bootstrapped $160M exit in under four years — but it rode a once-a-decade US betting boom, and the moat is a data pipeline a funded rival can rebuild.
01How the money moves
Ingest about 300 sportsbooks' odds at 1M+ req/second
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Flag +EV, arbitrage & middle bets in real time
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Bettors pay $39-500/mo to rent the edge
02The numbers
$25K
own money in, no VC
founder
$26M
2024 revenue
GAMB filing
$160M
exit, up to
GAMB filing
About $25K in (2021), zero outside capital — sold for up to $160M, closed Jan 1, 2025. iGaming Business
Revenue $26M, adj. EBITDA $12M (2024 forecast) Gambling.com M&A disclosure — a forecast, not audited; founder separately claimed about $30M ARR. From $25K, $0 VC.
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(demo: preview the full teardown)Sourcesupdated · daily
iGaming Business — Gambling.com Group to acquire OddsJam parent Odds Holdings for up to $160M; 2024E revenue $26M, adj. EBITDA $12M.Yogonet — Deal structure: $80M upfront plus up to $80M earnout through 2026; closed Jan 1, 2025.Entrepreneur On Fire — Alex Monahan: bootstrapped OddsJam from $0 with $25K, no VC, to a $160M exit.OddsJam — Subscription tiers and pricing for the odds terminal.Bookies.com — Monahan & Goyal background: Stanford math/CS, pro bettors who built the tool for themselves.
Revenue ($26M) and adj. EBITDA ($12M) are Gambling.com Group's disclosed 2024 forecast for Odds Holdings in its public M&A announcement — first-party to the deal but a forecast, not audited financials. Monahan separately claimed about $30M ARR on a podcast. The $160M is "up to": roughly $80M upfront (cash + GAMB shares) plus up to $80M earnout tied to performance through end-2026, so final value is not yet realized. Founding year (2021) and $25K self-funding are founder-stated. Per Founder's Story podcast (Ep 221), Monahan first paid an influencer for a promo video, which underperformed; he then switched to making his own free YouTube education content, which became the real growth engine — the card now reflects that order, not the earlier draft's conflation of the two. The competitive-rebuild and regulatory "dies" scenarios are [our read], not documented events — no drama was fabricated. We never score you.