1 August, 2022
OddsJam Q&A: Marrying tech and sports betting
OddsJam Co-Founder Alex Monahan talks to AffiliateCon about life as a US-founded affiliate
Tell us about OddsJam? What is the product?
Our mission is to marry tech and sports betting through a variety of unique and engaging products that strive to fulfill the needs of the full spectrum of bettors.
For more experienced bettors or seasoned daily fantasy sports (DFS) players (ie those who aren’t wagering strictly on moneylines, spreads and totals) we have a suite of odds-comparison and line-shopping tools that display all kinds of player props, alternate lines and in-play markets across 75+ sportsbooks. Our proprietary data coverage of those books results in the purveying of millions of odds that update in real-time, while providing users with the best price on the market of their choice. This data also powers an extensive B2B business for the company, which is utilised by a variety of major sportsbooks and media companies in the industry. We also have a custom bet tracker that catalogues and automatically grades every wager inputted by a user, with over three million bets tracked to date.
In addition, we have a newly released app that is geared more toward intermediate bettors that allows users to conduct individualised player prop research and seek out relevant trends that can help guide their decision-making process. More casual bettors, meanwhile, can take advantage of our comprehensive content vertical. Led by a former Action Network senior editor, our content team publishes 15+ pieces of written content and a minimum of five YouTube videos per day, covering a range of educational and topical subjects, all with the goal of providing engaging and actionable information.
What was the motivation behind OddsJam?
As a quant trader on Wall Street to begin my career, I always had one eye on the sports betting market. Once PASPA was struck down and sports betting became regulated in the US, I saw an opportunity to apply my trading and engineering background to sports betting. After accruing a sizeable bankroll, betting in a part-time capacity while slowly coming to realise there was something of a whitespace for data-driven tools and premium content solutions in the industry, my Co-founder and I decided it was time to go all-in on the space, which led to us launching OddsJam.
What inspired you to both enter the affiliate space – coming from quant trading and health-tech?
We started out as a subscription-only business before determining we were effectively limiting the scope of our potential growth by only catering to more seasoned bettors. Pivoting to an affiliate model enabled us to at once start developing working relationships with operators while giving us the ability to begin building things for free – both through the allocation of resources to our emerging content vertical and by building tools that can be leveraged by anyone.
What are your goals for OddsJam?
At a business level, our goal is to provide the best data coverage possible for our users and B2B partners. Bigger picture, we want to do our best to positively contribute to the greater betting ecosystem by helping educate users on things like the value of line shopping and price sensitivity. The idea being that should create stickier users while also serving to generally get more people excited about the sports betting industry!
What’s the broad vision for where you see, or where you hope OddsJam will be in the future? What’s the mission?
Our north star is to help people learn the ropes of sports betting. Line shopping. Using multiple sportsbooks. Understanding the importance of closing line value. The basics that we don’t believe are getting enough attention in the industry. But ultimately our mission is to create fun, engaging and actionable content, and tools that help make bettors smarter.
Will you be influenced by the European model to base your business on – or do you plan to go about things in a more homegrown way?
We focus mainly on regulated partners in the legalised US and Canadian spaces where the CPA model is prevalent, as opposed to Europe. But we have done a variety of types of deals with sportsbooks at this point.
In the short term, what do you plan to achieve in the next, say, 18-24 months? How will you get from point A to point B? What’s the immediate strategy?
We've only been around a year yet have already seen significant growth. To keep up with what we hope is continued growth, it’s imperative to be heads-down focused on further developing our own content and building the best product for customers; as well as our media and industry partners. The rest will follow.