Commercial
Turnover
Definition
Total amount wagered over a period, also called "handle" in sportsbook contexts. The volume metric that precedes margin to produce GGR.
Key takeaways
- Turnover is the total amount staked over a period, before any winnings are paid out.
- It is a volume measure, not a revenue measure. A large turnover figure says nothing about what an operator kept.
- Turnover and GGR are linked by hold: GGR = Turnover × Hold percentage.
- Some jurisdictions tax turnover rather than GGR, which is a materially harsher basis because it is charged on stakes regardless of outcome.
Formula
Turnover = Sum of all stakes placed GGR = Turnover × Hold %
Also called handle, particularly in US sports betting. Recycled winnings inflate turnover: a player restaking their returns adds to turnover each time, which is why turnover can be many multiples of the money a player actually deposited.
Worked example
The figures below are round and illustrative.
A sportsbook reports 200,000,000 in turnover at a 5% hold:
- GGR = 200,000,000 × 0.05 = 10,000,000
Now compare two tax bases on the same trading:
| Basis | Rate | Tax due |
|---|---|---|
| GGR | 20% | 2,000,000 |
| Turnover | 2% | 4,000,000 |
A turnover rate that looks far smaller can cost considerably more, because it is charged on every stake rather than on what the book retained. This is illustrative arithmetic, not any jurisdiction’s actual rates - for those, see the country hubs.
Why it matters
Turnover (handle) is the foundational volume metric. Multiplied by margin (hold percentage), it produces GGR. A sportsbook with $1B turnover and 7% hold produces $70M GGR. The two factors combine to give revenue, and the trade-off between turnover and margin is part of competitive strategy: lower margins drive higher turnover (more competitive prices attract more wagering), but the revenue arithmetic depends on which factor moves more.
For casino, turnover is technically the cumulative wagered amount including wins recycled into further bets. A player who deposits $100, plays through it, wins $80, plays that through, wins $50, and finally cashes out is generating multi-hundred-dollar turnover from $100 of deposit. The relationship between turnover, GGR, and NGR reflects the recycling effect: even modest deposits can generate substantial turnover, with GGR being the net of all wins and losses across that turnover.
Turnover vs Gross gaming revenue (GGR)
| Turnover | Gross gaming revenue (GGR) |
|---|---|
| Everything staked. Grows with recycled winnings, so it can be many times the money deposited. | What is retained after winnings are paid. A revenue measure. |
Quoting turnover where GGR is expected overstates a business by an order of magnitude. Always confirm which one a headline number refers to.
The bottom line
Turnover measures activity, not earnings. It matters most when it is the tax base, because then a small-looking percentage can exceed a large-looking GGR rate.
Frequently asked questions
Why report turnover separately from GGR?
Both have different uses. Turnover indicates wagering volume and player activity; GGR indicates revenue. The relationship between them indicates margin. Reporting both gives a fuller picture than either alone. Some markets require both for regulatory reporting; others focus on one.
Is turnover the same as handle?
In sportsbook context, yes; "handle" is the more common term in US sportsbook discussion. In casino context, "turnover" or "wagered amount" is more common, with "handle" used less often. The concepts are the same: total amount wagered.