igadeals
Free, no listing commitment

What is your iGaming business worth?

Send twelve months of figures and we come back within two working days with an indicative range, the comparable deals behind it, and the things a buyer will discount you for. Nothing is published and there is no obligation to list.

Current multiple ranges

Based on deals completed through igadeals in the last twelve months, not asking prices

B2C casino

2.4x to 4.0x TTM EBITDA

Driven by license quality, retention and how much revenue sits with a handful of VIPs. Tier-one licenses and owned traffic sit at the top of the range.

Sportsbook

2.6x to 3.8x TTM EBITDA

Margin volatility pulls books below casinos of the same size. A regulated local license and a casino cross-sell above 40 percent both lift the multiple.

B2B platform

3.8x to 5.5x TTM EBITDA

Contracted revenue with low churn earns the highest multiples on the marketplace. Client concentration above 30 percent is the main discount.

Affiliate and media

2.0x to 3.0x TTM net revenue

Priced on trailing net rather than EBITDA. Revenue share deals with long-lived players hold value better than CPA-heavy portfolios.

Payments and services

3.5x to 5.0x TTM EBITDA

Depends on whether the permission or sponsor bank relationship transfers with the company, and how sticky the merchant base is.

Domains and brands

Asset value No revenue multiple

Priced on age, exact-match value, registered trademarks and any usable backlink profile. Comparables come from private domain sales.

What moves the number

Pushes the multiple up

  • Tier-one license that transfers, or an asset that migrates cleanly
  • Owned traffic, direct and email, rather than rented affiliate volume
  • Revenue spread across many players with no VIP above five percent
  • Twelve months of stable or growing NGR with a defensible cost base
  • Contracts that novate without consent, and a team willing to stay
  • Clean payment history with low chargebacks and no processor concentration

Pulls the multiple down

  • Gray-market revenue, especially where the share is not disclosed upfront
  • Change of control approval that is slow or genuinely at risk
  • A single affiliate, streamer or paid channel driving most acquisition
  • Bonus abuse or promotional spend that flatters reported NGR
  • Owner-operator dependency with no documented processes
  • Platform contracts that end soon or need the provider's consent

How we get to a range

Four steps, usually within two working days

1

Normalise earnings

We strip out one-off costs, owner salaries and anything that will not exist after the sale, then rebuild a defensible TTM EBITDA.

2

Test the revenue

Reported figures are compared against back office exports and payment statements so the base number is real rather than claimed.

3

Benchmark comparables

We match against closed deals in the same license, market and asset class, not asking prices on other marketplaces.

4

Adjust for risk

License transferability, traffic concentration and player mix move you within the range, and we tell you which factor cost you what.

Request an indicative valuation.

Free, confidential and no commitment to list. If the number is not what you hoped for, we will tell you what would need to change and how long it would take.

  • Reply within two working days
  • Comparable deals included
  • Nothing published
You will be asked to create a free account so we can send the detail.

Common questions

Is the valuation binding?

No. It is an indicative range based on the figures you provide and comparable completed deals. The market decides the final number, and a premium listing with verified figures usually narrows the gap between the two.

Do you value pre-revenue assets?

Yes, for domains, brands and unlaunched platforms, though these are priced on asset value rather than a multiple. Operators with under three months of trading history are difficult to value credibly and usually sell for close to build cost.

Why are your ranges lower than headline industry numbers?

Public M&A multiples come from large regulated groups with audited accounts and tier-one licenses. Most privately held operators trade well below that, and using the wrong benchmark is the most common reason a listing sits unsold for months.

Do I have to list with igadeals afterwards?

No. The valuation is free and carries no obligation. Plenty of people use it to decide whether to sell now or keep building for another year. If you do decide to sell, you can list it yourself or hire a broker to run the process for you.