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Help with P&L - GGR vs NGR calculations seem off?

Running into some confusion with our monthly reports. Our platform shows GGR at around €340K last month, but when I calculate what we actually kept after bonuses, provider fees, and payment processing costs, we're sitting at maybe €28K. Is this normal? The discrepancy seems massive and I'm wondering if I'm calculating NGR wrong or if our promotional spend is just destroying margins. Anyone dealt with this before?

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Profile picture of JhonGI
on Jan 10, 2026

Yeah that's pretty typical actually, especially if you're running aggressive welcome bonuses. GGR is just wagers minus payouts - it doesn't account for ANY of your actual operating costs. Your NGR is what matters for real profitability. What's your bonus abuse rate looking like? Because if you're seeing lots of low-quality traffic that's just bonus hunting, that'll tank your NGR even if GGR looks healthy on paper. Also factor in chargebacks - those come out of NGR too.

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