# EDGAR Filing Document

**Accession Number:** 0001839799
**File Stem:** 0001839799-23-000019
**Filing Date:** 2023-3
**Character Count:** 31023
**Document Hash:** 1b5bb4809f2082c834e529d5c40cde1e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001839799-23-000019.hdr.sgml**: 20230323

**ACCESSION NUMBER**: 0001839799-23-000019

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 7

**FILED AS OF DATE**: 20230323

**DATE AS OF CHANGE**: 20230323

**EFFECTIVENESS DATE**: 20230323

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Gambling.com Group Ltd
- **CENTRAL INDEX KEY:** 0001839799
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
- **IRS NUMBER:** 000000000

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-270786
- **FILM NUMBER:** 23756303

**BUSINESS ADDRESS:**
- **STREET 1:** 22 GRENVILLE STREET
- **CITY:** ST. HELIER
- **STATE:** Y9
- **ZIP:** JE4 8PX
- **BUSINESS PHONE:** 44 1534 676 000

**MAIL ADDRESS:**
- **STREET 1:** 22 GRENVILLE STREET
- **CITY:** ST. HELIER
- **STATE:** Y9
- **ZIP:** JE4 8PX

**As filed with the Securities and Exchange Commission on March 23, 2023**

**Registration Statement No. 333-**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT**

***Under***

***THE SECURITIES ACT OF 1933***

**Gambling.com Group Limited**

**(Exact name of registrant as specified in its charter)**

---

| | |
|:---|:---|
| **Jersey** | **Not Applicable** |
| **(State or other jurisdiction of**<br>**incorporation or organization)** | **(I.R.S. Employer**<br>**Identification No.)** |

---

**Gambling.com Group Limited**

**22 Grenville Street, St. Helier, Channel Island of Jersey JE4 8PX**

**+44 1534 676 000**

**(Address of principal executive offices)**

**Amended and Restated 2020 Stock Incentive Plan**

**(Full title of the plan)**

**GDC America Inc.**

**514 North Franklin Street, Suite 201**

**Tampa, FL 33602, United States**

**+1 813 445 7555**

**(Name, address, including zip code, and telephone number, including area code, of agent for service)**

*Copies to****:***

**Michael J. Stein, Esq., Vice President, General Counsel**

**Dave N. Rao, Esq., Assistant General Counsel**

**Gambling.com Group Limited**

**c/o GDC America Inc.**

**514 North Franklin Street, Suite 201**

**Tampa, FL 33602, United States**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | □ | Accelerated filer | □ |
| Non-accelerated filer | ⌧ | Smaller reporting company | □ |
| Emerging growth company | ⌧ | | |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. □

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**EXPLANATORY NOTE**

This Registration Statement is filed by Gambling.com Group Limited (the "Company") for the purpose of registering additional ordinary shares, no par value, of the Company (the "Ordinary Shares"), under the Company's Amended and Restated 2020 Stock Incentive (the "Plan").

The number of Ordinary Shares available for issuance under the Plan is subject to an automatic annual increase on the first day of each fiscal year during the term of the Plan equal to 2% of the total number of Ordinary Shares outstanding on each December 31 immediately prior to the date of increase (the "Plan Evergreen Provision"). Pursuant to the Plan Evergreen Provision, the number of Ordinary Shares available for issuance under the Plan was increased by 729,407 shares effective January 1, 2023. This Registration Statement registers the additional shares available for issuance under the Plan as a result of the Plan Evergreen Provision.

Pursuant to Instruction E of Form S-8, the contents of the Company's prior registration statements on Form S-8 registering Ordinary Shares under the Plan (File Nos. 333-258412 and 333-262539) are hereby incorporated by reference herein, and the information required by Part II of Form S-8 is omitted, except as supplemented by the information set forth below.

**Part I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

**Item 1. Plan Information.\***

**Item 2. Registrant Information and Employee Plan Annual Information.\***

\* As permitted by Rule 428 under the Securities Act, this Registration Statement omits the information specified in Part I of Form S-8. The documents containing the information specified in this Part I of Form S-8 ("Plan Information" and "Registrant Information and Employee Plan Annual Information") will be sent or given to employees as specified by the SEC pursuant to Rule 428(b)(1) under the Securities Act. Such documents are not required to be and are not filed with the SEC either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act. These documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II hereof, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act. The Registrant will provide a written statement to participants advising them of the availability without charge, upon written or oral request, of the documents incorporated by reference in Item 3 of Part II hereof and including the statement in the preceding sentence. The written statement to all participants will indicate the availability without charge, upon written or oral request, of other documents required to be delivered pursuant to Rule 428(b) under the Securities Act, and will include the address and telephone number to which the request is to be directed.

**Part II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 3. Incorporation of Documents by Reference.**

The following documents are incorporated herein by reference;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>[our annual report on Form 20-F for the fiscal year ended December 31, 2022](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001839799/000183979923000015/gamb-20221231.htm)</u>, filed with the SEC on March 23, 2023; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the description of our ordinary shares contained in our registration statement on <u>[Form 8-A (No. 001-40634)](https://www.sec.gov/Archives/edgar/data/1839799/000119312521218660/d160854d8a12b.htm)</u> filed with the SEC on July 19, 2021 pursuant to the Exchange Act including any amendment or report filed for the purpose of updating such description.

In addition, all documents subsequently filed by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14, and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, including any Reports of Foreign Private Issuer on Form 6-K submitted during such period (or portion thereof) that is identified in such form as being incorporated by reference into this Registration Statement, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of the filing of such documents. The Registrant is not incorporating by reference any documents or portions thereof, whether specifically listed

------

above or filed in the future, that are not deemed "filed" with the Commission under Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, unless the report or filing containing such information indicates that the information therein is to be considered "filed" under the Exchange Act or is to be incorporated by reference in this Registration Statement.

Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein, (or in any other subsequently filed document which also is incorporated or deemed to be incorporated by reference herein), modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

**Item 8. Exhibits.**

---

| | |
|:---|:---|
| **Exhibit**<br>**No.** | **Description** |
| 4.1 | <u>[Form of Amended and Restated Memorandum and Articles of Association of the Registrant (incorporated by reference to Exhibit 3.2 filed with the Registrant's Registration Statement on Form F-1 filed with the Securities and Exchange Commission on July 6, 2021).](http://www.sec.gov/Archives/edgar/data/1839799/000119312521208192/d160854dex32.htm)</u> |
| 4.2 | [Amended and Restated 2020 Stock Incentive Plan (incorporated by reference to Exhibit](https://www.sec.gov/Archives/edgar/data/1839799/000183979923000015/exhibit41amendedandrestate.htm)[4.1](https://www.sec.gov/Archives/edgar/data/1839799/000183979923000015/exhibit41amendedandrestate.htm)[filed with the](https://www.sec.gov/Archives/edgar/data/1839799/000183979923000015/exhibit41amendedandrestate.htm)[Annual Report on Form](https://www.sec.gov/Archives/edgar/data/1839799/000183979923000015/exhibit41amendedandrestate.htm)[20-F](https://www.sec.gov/Archives/edgar/data/1839799/000183979923000015/exhibit41amendedandrestate.htm)[filed with the Securities and Exchange Commission on](https://www.sec.gov/Archives/edgar/data/1839799/000183979923000015/exhibit41amendedandrestate.htm)[March 23, 2023](https://www.sec.gov/Archives/edgar/data/1839799/000183979923000015/exhibit41amendedandrestate.htm)[)](https://www.sec.gov/Archives/edgar/data/1839799/000183979923000015/exhibit41amendedandrestate.htm)[.](https://www.sec.gov/Archives/edgar/data/1839799/000183979923000015/exhibit41amendedandrestate.htm) |
| 5.1\* | <u>[Opinion of Carey Olsen Jersey LLP, Jersey counsel to the Registrant, as to the validity of the ordinary shares (including consent).](exhibit5opinion.htm)</u> |
| 23.1\* | <u>[Consent of BDO LLP,](exhibit231tos-8.htm)[independent registered public accounting firm](exhibit231tos-8.htm)[.](exhibit231tos-8.htm)</u> |
| 23.2\* | <u>[Consent of Carey Olsen Jersey LLP (included in Exhibit 5.1).](exhibit5opinion.htm)</u> |
| 24.1\* | <u>[Power of Attorney](#iff77cc84021347249c52dce86fafdbf6_28)[(included on signature page to this Registration Statement).](#iff77cc84021347249c52dce86fafdbf6_28)</u> |
| 107\* | <u>[Filing Fee Table.](s-8registrationstatement20.htm)</u> |

---

________________

\*&nbsp;&nbsp;&nbsp;&nbsp;Filed herewith.

**Item 9. Undertakings.**

(a)The undersigned Registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)To include any prospectus required by Section 10(a)(3) of the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement.

*Provided, however*, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Securities and Exchange Commission by the Registrant pursuant to Section 13 or 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering

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(b)The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(c)Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

------

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Channel Island of Jersey, March 23, 2023.

---

| | |
|:---|:---|
| **GAMBLING.COM GROUP LIMITED** | **GAMBLING.COM GROUP LIMITED** |
| By: | /s/ Charles Gillespie |
|  | Name: Charles Gillespie |
|  | Title: Chief Executive Officer |

---

**POWER OF ATTORNEY**

KNOW ALL BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Charles Gillespie and Elias Mark, and each of them, his or her true and lawful agent, proxy and attorney-in-fact, with full power of substitution and re-substitution, for and in his or her name, place and stead, in any and all capacities, to sign for him or her and in his or her name in the capacity indicated below the registration statement on Form S-8 filed herewith, and any and all post-effective amendments to said registration statement, under the Securities Act of 1933, as amended, in connection with the registration under the Securities Act of 1933, as amended, of equity securities of Gambling.com Group Limited, and to file or cause to be filed the same, with all exhibits thereto and other documents in connection therewith, with the U.S. Securities and Exchange Commission, granting unto each said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as such person might or could do in person, and hereby ratifying and confirming all that any said attorney-in fact and agent, or any substitute or substitutes of them, shall do or cause to be done by virtue of this Power of Attorney.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Charles Gillespie | Chief Executive Officer and Director<br>*(Principal Executive Officer)* | March 23 2023 |
| Charles Gillespie |  |  |
| /s/ Elias Mark | Chief Financial Officer<br>*(Principal Financial Officer and Accounting Officer)* | March 23, 2023 |
| Elias Mark |  |  |
| /s/ Mark Blandford | Chairman of the Board of Directors | March 23, 2023 |
| Mark Blandford |  |  |
| /s/ Susan Ball | Director | March 23, 2023 |
| Susan Ball |  |  |
| /s/ Fredrik Burvall | Director | March 23, 2023 |
| Fredrik Burvall |  |  |
| /s/ Michael Quartieri | Director | March 23, 2023 |
| Michael Quartieri |  |  |
| /s/ Gregg Michaelson | Director | March 23, 2023 |
| Gregg Michaelson |  |  |
| /s/ Pär Sundberg | Director | March 23, 2023 |
| Pär Sundberg |  |  |

---

------

**SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES**

Pursuant to the requirements of the Securities Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of the Registrant, has signed this Registration Statement on March 23, 2023.

**GDC AMERICA, INC.**

---

| | | |
|:---|:---|:---|
| By: | <u>/s/ William S. Hanson</u> | Authorized Representative in the United States |
|  | Name: William S. Hanson |  |
|  | Title: President |  |

---

## Ex-Filing

**Exhibit 107**

**Calculation of Filing Fee Tables**

**<u>Form S-8</u>**

(Form Type)

**<u>Gambling.com Group Limited</u>**

(Exact Name of Registrant as Specified in its Charter)

<u>Table 1: Newly Registered Securities</u>

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Security Type | Security<br>Class Title | Fee Calculation<br>Rule | Amount<br>Registered (1) | Proposed<br>Maximum<br>Offering<br>Price Per Unit | Maximum<br>Aggregate<br>Offering<br>Price | Fee Rate | Amount of<br>Registration Fee |
| Equity | Ordinary Shares, no par value | Rule 457(c) and Rule 457(h) | 729407 (2) | $9.69(3) | $7067953.83 | $0.00011020 | $778.89 |
| **Total Offering Amount** | **Total Offering Amount** | **Total Offering Amount** | **Total Offering Amount** |  | $7067954 |  | $779 |
| **Total Fee Offsets (4)** | **Total Fee Offsets (4)** | **Total Fee Offsets (4)** | **Total Fee Offsets (4)** |  |  |  |  |
| **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** |  |  |  | $779 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1)Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this registration statement shall also cover any additional shares of the Company's Ordinary Shares, no par value, that may become issuable under the terms of the Company's Amended and Restated 2020 Stock Incentive Plan (the "Plan") by reason of any share split, share dividend, recapitalization or other similar transaction effected without the Company's receipt of consideration which results in an increase in the number of the outstanding shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;(2)Represents additional shares reserved for issuance authorized as of January 1, 2022 under the "evergreen" provision of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;(3)Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(c) and Rule457(h)(1) promulgated under the Securities Act. The price per share and aggregate offering price are based upon the average of the high and low prices of the registrant's ordinary shares on March 17, 2023, as reported on the Nasdaq Global Market, which date is within five business days prior to the filing of this Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;(4)The Company does not have any fee offsets.

## Exhibit 5.1

![image_0.jpg](image_0.jpg)

---

| | |
|:---|:---|
| &nbsp;&nbsp;<br>The Directors<br>Gambling.com Group Limited<br>22 Grenville Street<br>St. Helier<br>Jersey <br>JE4 8PX | March 23, 2023 |
| &nbsp;&nbsp;Dear Directors, |  |
| &nbsp;&nbsp;**Gambling.com Group Limited (the Company)**<br>**Amended and Restated 2020 Stock Incentive Plan (the "Plan"**) | &nbsp;&nbsp;**Gambling.com Group Limited (the Company)**<br>**Amended and Restated 2020 Stock Incentive Plan (the "Plan"**) |

---

We have acted as Jersey legal advisers to the Company in connection with the registration statement on Form S-8 to be filed on or about March 23, 2023 (the "**Form S-8**") relating to the Plan.

Under the Plan, the Company has granted, and may from time to time grant, awards relating to Plan Shares (as defined below) to employees, employed directors, non-employee directors, consultants, and/or advisors of the Company or one of its subsidiaries (each, an award holder).

1.**DOCUMENTS EXAMINED AND RELATED MATTERS**

1.1For the purposes of this opinion we have examined and relied upon copies of the following documents:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1.1a draft of the Form S-8 in the form in which it is to be filed with the US Securities and Exchange Commission; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1.2the Company's memorandum and articles of association.

1.2For the purposes of this opinion, we have, with the Company's consent, relied upon a certificate or other written confirmation of an officer or employee of the Company or its subsidiaries as to matters of fact, without having independently verified such factual matters.

1.3For the purposes of this opinion, we have not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.1examined any other document relating to the Plan or the Plan Shares (including, without limitation, any document incorporated by reference in, or otherwise referred to in, the Form S 8); and

![image_1.jpg](image_1.jpg)

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.2undertaken any exercise that is not described in this opinion and, in particular, we have not conducted any searches or enquiries in relation to the Company at any public office or registry in Jersey.

1.4In this opinion:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4.1non-assessable means, in relation to any Plan Shares, that no further sum shall be payable by a holder of those Plan Shares in respect of the purchase price of those Plan Shares pursuant to an award made under the Plan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4.2Plan Shares means an aggregate of [729,407] ordinary shares of no par value each in the capital of the Company which are to be issued or transferred to an award holder pursuant to, or in connection with, an award made or to be made under the Plan.

1.5In this opinion, headings are for convenience only and do not affect its interpretation.

2.**ASSUMPTIONS**

In giving this opinion, we have assumed:

2.1that the rules of the Plan have been properly adopted by the Company and that the Plan has been, and will at all times be, (i) operated in accordance with its rules and (ii) legal, valid, binding and enforceable in accordance with its terms;

2.2that the Company's board of directors (or a duly authorised committee thereof or a duly authorised person or persons appointed by the board of directors as an administrator in respect of the Plan):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.1has authorised and granted all existing awards relating to Plan Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.2has resolved to satisfy all existing awards relating to Plan Shares,

in a manner consistent with the board's or committee's or administrator's (as the case may be) fiduciary duties and in accordance with the rules of the Plan and the Company's articles of association;

2.3that the Company's board of directors (or a duly authorised committee thereof or a duly authorised person or persons appointed by the board of directors as an administrator in respect of the Plan):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.1will duly authorise and grant all future awards relating to Plan Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.2will resolve to satisfy all future awards relating to Plan Shares,

in a manner consistent with the board's or committee's or administrator's (as the case may be) fiduciary duties and in accordance with the rules of the Plan and the Company's articles of association;

2.4that all Plan Shares currently in issue which may be transferred to an award holder under the Plan in settlement of an award have been validly issued and are credited as fully paid;

2.5that a meeting of the Company's board of directors (or a duly authorised committee thereof or a duly authorised person or persons appointed by the board of directors as an administrator in respect of the Plan) has been, or will be, duly convened and held at which it was, or will be, resolved to allot and issue, or (where applicable) approve the transfer of, the Plan Shares to the relevant award holder;

Page 2 / March 23, 2023

![image.jpg](image.jpg)

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2.6that no allotment and issue of Plan Shares will result in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6.1a breach of any authority to allot ordinary shares conferred on the directors of the Company by the shareholders of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6.2a breach of any pre-emptive or anti-dilution provision in the Company's memorandum and articles of association; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6.3the number of shares reserved for issue under the Plan being exceeded; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6.4the authorised share capital of the Company being exceeded;

2.7that no Plan Shares have been, or will be, issued at a price less than their issue price;

2.8that all Plan Shares have been, or will be, duly allotted and issued and (where applicable) transferred, in accordance with the Company's articles of association;

2.9that prior consent of the Jersey Financial Services Commission pursuant to Article 4 of the Control of Borrowing (Jersey) Order 1958 (the "**COBO Law**") will be obtained in connection with the issuance of awards under the Plan to persons who do not fall within the categories of persons set out at Article 6(1) of the COBO Law;

2.10that the transferee of any Plan Share will have: (i) the capacity, power and authority; (ii) taken all necessary action; and (iii) obtained or made all necessary agreements, approvals, authorisations, consents, filings, licences, registrations and qualifications (whether as a matter of any law or regulation applicable to it or as a matter of any agreement binding on it), to become the registered holder of that Plan Share in accordance with all applicable laws;

2.11the authenticity, accuracy, completeness and conformity to original documents of all documents and certificates examined by us;

2.12that all signatures purporting to be on behalf of (or to witness the execution on behalf of) the Company or any officer of the Company or of one of its subsidiaries are genuinely those of the persons whose signatures they purport to be;

2.13that the Company is not insolvent or unable to pay its debts as they fall due and will not become insolvent or unable to pay its debts as they fall due or bankrupt (as defined in Article 8 of the Interpretation (Jersey) Law 1954) as a result of the creation or performance of the Plan or the issue or transfer of Plan Shares pursuant to the Plan;

2.14that there is no provision of any law (other than Jersey law) that would affect anything in this opinion; and

2.15that no event occurs after today's date that would affect anything in this opinion.

3.**OPINION**

As a matter of Jersey law and based on, and subject to, the assumptions and limitations set out in this opinion, we are of the opinion that, in relation to the Plan Shares to be allotted and issued, or transferred, to an award holder under the Plan in settlement of the award holder's award, upon the:

3.1receipt in full by the Company of all amounts payable by the award holder under the Plan in respect of the award holder's award; and

3.2entry of the name of the award holder as the holder of those Plan Shares in the Company's register of members,

those Plan Shares will be validly issued, fully paid and non-assessable.

4.**JERSEY LAW**

This opinion is limited to matters of, and is interpreted in accordance with, Jersey law as at the date of this opinion. We express no opinion with respect to the laws of any other jurisdiction. We assume no obligation to update or supplement this opinion to reflect any facts or circumstances which may come to our attention, or any changes in law which may occur, after the date of this opinion.

Page 3 / March 23, 2023

![image.jpg](image.jpg)

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5.**BENEFIT OF OPINION**

5.1This opinion is addressed to the Company in connection with the registration of the Plan Shares under the US Securities Act of 1933.

5.2We consent to the filing of a copy of this opinion as an exhibit to the Form S-8 and its filing with the US Securities and Exchange Commission.

Yours faithfully

/s/ Carey Olsen Jersey LLP

**Carey Olsen Jersey LLP**

Page 4 / March 23, 2023

![image.jpg](image.jpg)

## Exhibit 23.1

**Exhibit 23.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

Gambling.com Group Limited

Jersey, Channel Islands

We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of Gambling.com Group Limited of our report dated March 23, 2023, relating to the consolidated financial statements of Gambling.com Group Limited, appearing in the Company's Annual Report on Form 20-F for the year ended December 31, 2022.

/s/ BDO LLP

BDO LLP

London, United Kingdom

March 23, 2023

<br>