Say hello to OddsJam. The new firm’s primary feature tracks dozens of sites to find the most favorable odds on each wager, sort of like Kayak finding you a hotel.
Another feature searches for odds so favorable they result in a positive expected return. The company is made for those who search out market inefficiencies rather than game predictions, according to Sportico.
The company’s founders have targeted a small slice of U.S. bettors open to using several wagering platforms seeking an advantage.
OddsJam’s founders suggest players open accounts at as many sportsbooks as possible.
The platform tracks over 70 sportsbooks, updating as many as a million odds per second. To be fair, OddsJam’s idea isn’t completely new. Chris Grove, a sports betting investor and co-founder at Acies Investments, saw countless pitch decks two and three years ago to help bettors decide which bets to place and where to make them.
“There’s not a lot of surprise about the demand for these products,” he said. “I think where the surprises are is in who is winning that demand—companies like OddsJam that have come out of effectively nowhere and are capturing a pretty material amount of revenue.”
OddsJam was founded early in 2021 by Stanford graduates Ankit Goyal and Alex Monahan. The company currently sends daily suggested bets to more than 100,000 users.
The company, which recently launched a player props data app, makes complex analysis more accessible to bettors without programming backgrounds.
In spite of still being in its infancy, OddsJam has already bought OddsBoom this summer. Better Collective, meanwhile, has acquired RotoGrinders, the Scores and Odds platform, and Vegas Insider, in addition to The Action Network.
“The more traffic I can send to an operator like DraftKings or FanDuel, the more leverage I have, and the greater my pricing power,” Grove said.
OddsJam says it can convert users to its data-centric way of thinking while continuing to develop more tools.