Established Online Sportsbook & Casino – Honduras and Guatemala
A B2C sportsbook and casino operating since 2019 in two of Central America’s least saturated gambling markets. The business has accumulated 12,000+ registered players, converts registrations to first deposit at 40.56%, and has maintained a 25–30% net cash win margin on deposits in every year since 2023 – including through the recent revenue decline.
Founder-owned, offered as an asset sale, with ten domains, established local payment rails, a 14-person team across Costa Rica, Honduras and Guatemala, and a 2026 migration to the Phoenix 365 platform already completed.
This is a turnaround, and it is priced and presented as one. Deposits have fallen from USD 6.71m (2023) to an annualised USD 3.39m, and the last six months are approximately breakeven. Marketing spend over the same period fell from USD 127,276 per year to roughly USD 956 per month. The acquisition funnel has been starved, not broken: unit economics remain intact at a stated CAC of USD 35–70 against a stated LTV of USD 212.
| Founded | 2019 |
| Markets | Honduras, Guatemala |
| Transaction | Asset sale, 100% founder-owned |
| Registered players | 12,000+ |
| Registration-to-deposit conversion | 40.56% |
| Deposits (T12M) | USD 3,779,814 |
| Net cash win (T12M) | USD 901,993 |
| Net cash profit (T12M) | USD 79,170 |
| Net cash win margin | 25–30%, stable across four years |
| Team | 14 (11 Costa Rica, 2 Honduras, 1 Guatemala) |
| Platform | Phoenix 365 (migrated 2026) |
| Domains | 10, including brand domain |
Net cash win = completed deposits less completed withdrawals. Unaudited management accounts, cash basis, USD.
Highlights
- Two markets materially less saturated than Europe or North America, with CAC well below mature-market levels
- Gaming margin held at 25–30% throughout the decline – a volume problem, not a product problem
- 12,000+ player database with proven 40.56% deposit conversion, available for reactivation without new acquisition spend
- No affiliate programme and no meaningful SEO – two standard acquisition channels entirely unexploited
- Seven years of local operating knowledge: player behaviour, sports preference, payment habits, retention dynamics
- Founder offers minimum 30 days structured handover and is open to a reasonable non-compete
Key considerations – disclosed upfront
- Deposits declined 66% between January and July 2026; the last six complete months averaged USD 596 per month of net cash profit
- Marketing has been reduced to approximately USD 956 per month; current trading reflects a starved funnel
- The cost base, personnel in particular, is sized for materially higher volume than the business currently produces
- The relationship between the 2026 platform migration and the deposit decline has not yet been established
- Payment processors do not transfer automatically; each requires separate KYC and underwriting
- Licence particulars for the markets served are pending disclosure
Asking price
€350,000, asset sale. The seller is open to discussing structure, including a deferred element tied to post-completion performance.
Process
Full monthly financials 2023–2026, player analytics and platform detail are provided in the Confidential Information Memorandum, released after signed NDA, UBO disclosure and bank-verified proof of funds.
Listing ID: 158
Gabriel Sita
Price
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