Commercial
KPI (Key Performance Indicator)
Key Performance Indicator
Definition
A quantitative metric used to track and report business performance. iGaming uses a standardized set of operator KPIs covering acquisition, engagement, retention, and risk.
Why it matters
The KPI vocabulary in iGaming is reasonably standardized across operators, which makes industry analysis and benchmarking possible. The core KPIs include FTD count and CAC for acquisition, active player count and ARPU for engagement, churn and retention rates for retention, GGR and NGR for revenue, hold percentage for margin, and various AML and RG KPIs for compliance. The standardization isn't perfect (definitions vary, lookback windows differ) but is sufficient for meaningful cross-operator comparison.
KPI design within an operator shapes organizational behavior. Marketing teams measured on FTD volume push for short-window acquisition wins. Marketing teams measured on payback period or LTV/CAC favor higher-quality long-tail players. CRM teams measured on retention curves prioritize behaviors that sustain cohort revenue. Compliance teams measured on customer interaction completion ensure RG protocols are followed. The KPI set is one of the levers senior management uses to align behavior with strategy.
Frequently asked questions
Are iGaming KPIs publicly standardized?
Loosely. Listed operator earnings releases follow conventions that produce roughly comparable disclosure. Trade publications and analyst reports use shared vocabulary. Some KPIs (active player counts, ARPU) vary in definition enough that cross-operator comparison requires care.
What's the most-watched KPI in iGaming earnings?
NGR is the headline revenue metric. Adjusted EBITDA is the headline profitability metric. ARPU and active player count are the headline engagement metrics. Different stakeholders prioritize different KPIs but those four anchor most operator reporting.