Freedom Capital has spotlighted Gambling.com (GAMB) as a strategic, low-capital-exposure opportunity poised to benefit from the ongoing expansion of legal gambling across U.S. states. The firm underscores GAMB’s digital infrastructure and scalable platform as key advantages in a rapidly growing market.
- Over 30 U.S. states now permit sports betting, with 15+ advancing iGaming legislation.
- Gambling.com reported $147 million in revenue for 2024, up 22% YoY.
- Operating margins reached 31% in FY2024, reflecting strong scalability.
- User acquisition cost below $28 per active customer in Q4 2024.
- Average revenue per user (ARPU) of $16.40 in high-growth states.
- GAMB’s market cap stands at approximately $1.2 billion as of early January 2026.
Freedom Capital has identified Gambling.com (GAMB) as a compelling investment in the evolving U.S. gambling landscape, highlighting its capital-light business model as a distinct advantage amid widespread regulatory shifts. With over 30 states now permitting some form of sports betting and more than 15 states advancing iGaming legislation, the market is undergoing a structural transformation. GAMB’s core assets—including its digital content network, affiliate partnerships, and data-driven user engagement tools—enable revenue growth without significant incremental capital investment. The company reported $147 million in revenue for the fiscal year ending December 31, 2024, with a 22% year-over-year increase, driven largely by expanded partnerships in legalized markets. Operating margins improved to 31% in the same period, reflecting strong scalability. Freedom Capital notes that GAMB’s current market cap of approximately $1.2 billion positions it as a mid-tier player with outsized growth potential relative to its peers. The firm points to forward-looking metrics: as of Q4 2024, GAMB’s user acquisition cost remained below $28 per new active customer, significantly lower than industry averages. This efficiency, combined with an average revenue per user (ARPU) of $16.40 in high-growth states, suggests strong unit economics. The company’s focus on mobile-first platforms and AI-driven personalization is expected to further accelerate conversion rates in upcoming legislative rollouts. Investors in gaming, fintech, and consumer discretionary sectors are likely to monitor GAMB’s performance closely as states like Florida, Pennsylvania, and New York finalize new sports betting and iGaming frameworks. The stock’s recent 18% rise over the past 30 days reflects growing market confidence in the regulatory tailwinds.