IBO · Guides · GGR vs NGR: what the difference means for your margin
GGR vs NGR: what the difference means for your margin
30 Oct 2026 · IBO — iGaming Back Office
GGR and NGR are the first two numbers of an online casino’s P&L, and the gap between them is often the first place margin disappears.
The two numbers
GGR, gross gaming revenue, is stakes minus winnings: what players lost to the games. NGR, net gaming revenue, is GGR after the deductions that come straight off it: bonuses converted to real money, gaming taxes and other deductions the operator counts there.
| Line | Amount |
|---|---|
| GGR | €120,000 |
| Bonus cost | −€9,000 |
| Gaming tax (5% of GGR) | −€6,000 |
| NGR | €105,000 |
In this invented month, 12.5% of GGR never reaches NGR. Every later step of the P&L — payment costs, marketing, salaries — is paid from the €105,000, not from the €120,000.
What the gap tells you
- A gap that grows month after month while GGR is flat usually means bonuses are buying the same revenue at a higher price.
- A jump in one month often comes from a campaign or a new market with a higher tax rate.
- Comparing the gap with the plan shows whether the bonus budget was a decision or an accident.
How to plan it
Plan bonus cost and gaming tax as their own lines under NGR, not as one “deductions” number. Gaming tax follows GGR and the rate of each market; bonus cost follows the CRM plan. When the fact comes in, each line explains its share of the gap.
In IBO
NGR is the second step of the profit ladder. The lines of the Deduction level build it, plan and fact side by side, and the AI assistant’s Check my data flags a bonus cost that jumped against its plan.