Gambling Ggr
The third quarter in the American gambling industry showed a significant increase in revenues, overpassing Q2 by 293%. Even though the financial increase was crucial, Q3 2020 was still worse than the same period a year ago. Login Casino analyses the latest financial news and informs its readers about the most important numbers in the US gambling sector.
Increased GGR for in-state gambling establishments is main driver of positive economic impacts Increased economic activity in the private sector raises state revenues over and above direct GGR tax By 38-57% in KY scenario, up to 20% in CT scenario Tax-PI allows state-specific expenditures to rise given total revenue increase. What is Gross Gaming Revenue (GGR)? GGR stands for Gross Gaming Revenue in the gaming and online casino world. It is calculated as the difference between the net profit (the amount players wager minus the amount they win) and the tax an establishment pays in regards to gaming supplies. The profits can be huge. Global Gambling Industry in Recent Years From the financial might of the industry, to player specific tendencies, we've broken down all the important numbers and arranged them into bite sized.
Reaching more than 9 billion dollars in the gross gaming revenue (GGR) in the third quarter is an astonishing economic result compared to $2.3B in the second quarter. However, in the year-over-year (YoY) comparison, 2020 Q3 was still almost 20% lower than the same period in 2019.
Such significant growth is related to the reopening of gambling venues across the states where gambling is legal. Some states even showed a positive YoY balance. Although South Dakota, Pennsylvania, Ohio, Mississippi, and Arkansas showed year-over-year growth between 3.8% and 7.5%, it is still a positive tendency in the post-quarantine period that promises fast recovery.
Traditionally, in the US, the essential part of the total revenue belongs to slots, which generate about 65% of the whole finances in gambling. Almost $5.9B was a 350% upgrade compared to Q2, but 19% lower than a year ago.
The second place in the balance sheets takes table games activity, which brought about $1.6B in Q3 2020. Compared to the previous three-month period, it is a 447% rise, while the YoY rate dropped by 31%.
Another astonishing Q2-Q3 increase was in sports betting, where almost 450% helped to receive more than $350M. Interestingly, this niche showed even a positive YoY balance but due to the bookmaking opening in four new states.
The most unusual numbers belong to the igaming sector, which grew up only by 8% compared to Q2 but by 232% in YoY comparison. Experts claim that this has happened thanks to opening related venues in West Virginia in July. Totally, the iGaming industry brought $435M in the third quarter of 2020.
Read more:What are the main trends in the iGaming industry in the US?
Read more:What is GGR and how does it differ from NGR?
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As a rule, GGR and NGR are two indicators used to evaluate the success of online gambling establishments. Gross Gaming Revenue (GGR) is the revenue of a virtual gambling establishment, and Net Gaming Revenue (NGR) is an express method for determining the level of profitability.
Net gaming revenue is an indicator of real profits of an online casino, excluding operating expenses such as: bonuses provided to customers; fees charged by payment systems; payments to the developers of the games represented in gambling establishments; payments to partner companies and funds spent on licensing and taxes.
Net Gaming Revenue is considered one of the most important indicators for online casinos and gambling institutions. It allows to track profits and losses, as well as key indicators such as total payments including winnings and total expenses. By total expenses we mean the welcome bonuses offered to new players or bonuses, which are given out to players who do not have a deposit.
Net income from online casino games or gambling establishments is calculated taking into account the deduction of taxes on goods and services that can be charged from all gaming operations and accessories produced by a casino operator.
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What is Gross Gaming Revenue?
The GGR (Gross Revenue Revenue) index is calculated as the net profit variance (the sum of players' bets minus the amount of winning bets). Sometimes GGR can reach truly amazing proportions. In 2006, Gross Gaming Revenue in the United States amounted to $90 billion.
Often, the profits of land-based and online gambling establishments are perceived by society as something not entirely “proper”. The basis for this is the assumption that players bear irreparable financial losses.
In the 1990s, Macau revenues from gambling business accounted to 45% of its total revenue.
Nevertheless, there are many examples of how gambling can contribute to the regional economy development. Firstly, the gambling business creates many jobs. For example, about 100,000 people are employed in the British casino industry. Secondly, land-based gambling establishments attract foreign tourists. According to the Daily Mail, the Las Vegas Strip with its nearly 40 million tourists every year is the most visited attraction in the world. Thirdly, taxes paid by gambling operators, as a rule, are spent on social needs: school construction, hospital financing or architectural objects restoration.
GGR is the revenue index, but not the institution profitability indicator. It directly depends on the 'luckiness' of the players. And as for the NGR indicator, it is an excellent express method for determining the establishment’s success. However, in the case of GGR calculating, there is a simple and, in most situations, a single formula. As for the NGR calculation approaches, they vary from situation to situation taking into account the special features of the taxation system of the state where the gambling institution operates, and peculiarities of the way a certain operator is doing business.
Formulas for NGR and GGR calculating and interpreting:
GGR = A - B.
NGR = A - B - C - D.
A - the total sum of all bets made by players;
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B - the sum of all received winnings;
C - the sum of all bonuses received by players;
D - the sum of all taxes.
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A- total sum of all bets by player - so is this all bets you mean the bonus bets too ? B - the sum of all received winnings - so again a question so is this amount included the bonus bets winnings ? C- the sum of all bonuses received - the original amount or played as a result of the bonus, which was won ???