Oddin.gg receives $4.5m in Series A financing
Oddin.gg poised to significantly scale and add new product verticals after recent $4.5m Series A raise
Oddin.gg, the world-leading B2B esports odds feed, risk management and iFrame provider, is extremely proud to announce a Series A financing round, during which the company raised $4.5m from current investors, as well as fromVelo Partners and Genting Ventures.
The round comes after ongoing business momentum, during which the company has not lost a single client in the last 3 years while signing landmark B2C deals with Betway, Yolo group (sportsbet.io and bitcasino.io brands) and Loot.bet, among others, plus major B2B deals, including OpenBet, Aspire Global and Altenar, to name a few. Oddin.gg operates on all continents, and recently started offering its services in New Jersey, US. They have current applications for licences in other US states as well as Ontario, Canada. With an almost 9-digit monthly USD handle under management, the company delivered a 6.7% average margin to its clients in 1H 2022. As one of the very few in the esports ecosystem, the company broke even in July 2022.
The funds will be used to strengthen Oddin.gg’s position as a global esports B2B betting leader and to expand to new verticals. Oddin.gg offers a 360° approach towards esports betting, providing betting operators everything they need to set up successful business operations. This includes data visualisations, marketing, odds feed, risk management, and iFrame.
The Series A round comes after a successful seed round in early 2020, in which Oddin.gg raised $1.2m.
Oddin.gg Co-Founder and CEO Vlastimil Venclik said: “On behalf of the entire Oddin.gg team and myself, I am proud of everyone involved. First of all, we want to thank our clients and partners who share our vision and who have made our growth possible. At the same time, we feel fortunate to work with our investors and to see this investment helping us to scale. This round will help us to continue enjoying our exponential growth and development of new services that will cement our position as a leader in the industry. I want to thank all our partners for their trust, and we will work tirelessly on our vision to justify it!”
Genting Ventures said: “We are impressed by Oddin.gg’s technology with class-leading metrics for esports betting. From an industry standpoint, we see the dynamic potential of esports, and identify Oddin.gg as a key player offering top-tier data and service for its partners in the competitive gaming space.”
Velo Partners said: “We were immediately impressed with Oddin’s best-in-market esports odds products, as well as their broader strategy of building an esports ecosystem to service all of their customers’ esports needs. We look forward to being a part of this compelling growth story in the coming years”
About Oddin.gg: Oddin.gg is a world-leading B2B provider of esports odds feeds, risk management services, iFrame, marketing services, and more. The company maximizes its partners' profitability by combining machine learning algorithms with advanced data science. Oddin.gg features a team with 50+ years of combined experience in online betting and esports. With a track record of partnerships with some of the most successful global sportsbooks and platforms providers, Oddin.gg powers solutions for Betway, Yolo Group, LOOT.BET, Aspire Global, Altenar, Softswiss, and many more.
About Velo Partners: Velo Partners is a VC fund specialising in early-stage investments in gaming and gambling companies. Its portfolio includes the Hippodrome Casino, social network Betsperts, and a number of game development and betting companies.
About Genting: Genting Ventures is the corporate venture arm of Genting Group. Genting Group is a Malaysian Conglomerate involved in casino operations, online gaming, leisure and hospitality, oil palm plantations, power generation, oil and gas, property development, life sciences and biotechnology activities, with operations spanning across the globe.