How Much Do Online Casinos Make?

May 16, 2023

The popularity and growth of online gambling have skyrocketed in recent years, with a multitude of online casinos, like those on, catering to players across the globe. These platforms offer a wide variety of games, from slots and poker to table games and live dealer experiences.

This article aims to explore the revenue generated by online casinos and the factors that contribute to their financial success, using data from 2021 and earlier.

Factors Affecting Online Casino Revenue

There are several factors that influence the amount of money online casinos make:

Market size and user base

The global online gambling market has seen a steady increase in the number of gamblers, with millions of players worldwide.

The largest markets for online gambling include Europe, Asia-Pacific, and North America, each with its own unique preferences and demographics.

Types of games offered

Different games have varying profit margins, with some being more lucrative for online casinos.

Popular games such as slots, poker, and table games like blackjack and roulette generate a significant portion of an online casino’s revenue.

Regulations and taxes

The impact of regulations and taxes on profits varies by jurisdiction, as some regions have stricter rules and higher tax rates.

Navigating the complex legal landscape is crucial for online casinos to maximize their revenue.

Technology and innovation

Advancements in technology, including mobile gaming and live dealer games, can lead to increased revenue for online casinos.

Embracing new trends and offering innovative gaming experiences help online casinos attract and retain players.

Estimating Online Casino Revenue

There are various ways to estimate the revenue of online casinos:

Gross gaming revenue (GGR)

GGR is the total amount wagered minus winnings paid out, representing a casino’s gross income.

This metric is crucial in assessing online casino revenue but does not account for expenses.

Net gaming revenue (NGR)

NGR is calculated by subtracting expenses (e.g., bonuses, taxes) from GGR, providing a more accurate representation of profit.

Comparing NGR to GGR can reveal how efficiently an online casino operates.

Industry reports and statistics

Reliable sources and industry reports can provide revenue figures for online casinos.

In 2021, the global online gambling market was valued at around USD 66.7 billion, with a projected increase to USD 92.9 billion by 2023.

Top-Earning Online Casinos

Some of the most profitable online casinos – based on numbers from 2021::


Bet365 is a UK-based online gambling company that offers sports betting, casino games, poker, and bingo.

In the fiscal year ending March 2020, Bet365’s reported revenue was over USD 4.03 billion.

You can find more statistics and facts about the online casino industry on

Flutter Entertainment

(parent company of PokerStars, Paddy Power, Betfair, and FanDuel)

Flutter Entertainment is an Irish-based company that operates several well-known online gambling brands.

In 2020, Flutter Entertainment’s reported revenue was over USD 5.2 billion.

Factors contributing to their success include:

Strong brand presence: These companies have established themselves as trusted and recognizable brands in the online gambling industry.

Innovative features: Top-earning online casinos often invest in the development and implementation of innovative gaming experiences, such as live dealer games, mobile gaming, and unique game mechanics.

Effective marketing strategies: Successful online casinos use a mix of digital marketing strategies, such as SEO, social media, and targeted advertising, to reach a broad audience and attract new players.

How Online Casinos Maximize Their Profits

Online casinos employ various strategies and tactics to increase their revenue:

Bonuses and promotions

These incentives play a crucial role in attracting new players and retaining existing ones, ultimately boosting an online casino’s revenue.

Game selection and RTP (Return to Player)

Online casinos carefully curate their game selection to optimize revenue, focusing on games with the most appeal and profitability.

RTP, the percentage of stakes returned to players over time, affects player engagement and overall casino revenue.

Localization and personalization

Catering to specific markets and customizing the player experience can lead to increased revenue.

By offering localized content and personalized promotions, online casinos can better engage with their target audience.

Our finals thoughts

Online casinos generate substantial revenue, influenced by factors such as market size, game offerings, and technology advancements. As of 2021, the global online gambling market was valued at USD 66.7 billion and was expected to reach USD 92.9 billion by 2023, illustrating the industry’s rapid growth.

Online casinos maximize their profits through various strategies, such as offering bonuses and promotions, curating an optimal game selection, and focusing on localization and personalization.

As the online gambling industry continues to evolve, new trends and developments will shape the future of online casinos and the revenue they generate. By staying abreast of these changes and adapting to the ever-changing landscape, online casinos can maintain their profitability and remain competitive in this thriving market.


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