OddsJam names former Action Network exec as CEO
Matt Restivo steps up from COO role to lead the business as he details growth plans for markets and headcount
OddsJam has appointed current chief operating officer Matt Restivo to become the firm’s new CEO.
Restivo, who initially linked up as an adviser to the odds and expected value platform in late 2021, was named COO in January 2023.
He will now step up to lead the business as it looks to make a concerted effort to grow its user base and brand awareness.
The new CEO previously spent more than two years with Action Network as chief product officer between March 2018 and December 2020 where he helped scaled the customer base to more than three million in 12 months.
Restivo also spent time at ESPN and NHL Digital across a series of product roles and is now looking to replicate that success at OddsJam.
The business, which offers a subscription service to its users, collates odds and money lines from leading operators.
OddsJam also has a promotional finder, promotional converter, expected value tool, and an arbitrage arm within its offering.
The product covers both sports betting and DFS, with the latter being “invested heavily” in last year.
The business was co-founded by Stanford University graduates Ankit Goyal and Alexander Monahan in 2021 and has grown to a team of 30 employees.
EGR understands the business is looking to scale this figure up closer to 40 staff members before the end of the year.
Speaking to EGR, Restivo explained his thinking behind heading for the startup following his experience with established players such as Action Network.
On being promoted to CEO, he said: “The co-founders and I felt like we’d built a really good relationship in the first year. It was important to me that we do a really good job and align on the same philosophy. It felt like 2024 was the most natural time and there’s still a lot of runway to go in this business.
“I’m always willing to bet on myself. I’ve found a stage here which is the sweet spot. Action was an amazing ride but what I love about this business is that it is really focused. Some people say it is niche but it’s focused. We are focused on the customer and that drives everything,” he added.
Restivo added that OddsJam has been a “bootstrapped company since day one” but says there are plans to expand into South America and other geographies in the future.
Detailing his MO for his tenure as CEO, Restivo concluded: “I think that the mental model of the sports gambler needs to change and it’s why we spend so much time focused on educational content.
“We are helping people understand that when you look at a board of odds, it is not ‘who’s going to win each side’, it’s about where the value is.
“And that’s why our software is focused on identifying value. That’s our focus and our bread and butter.”