Top 6 KPIs in the iGaming Business: iGP’s Expert Insights for 2024

Online gambling is a segment with a large volume of data. Internet casinos, lotteries, sportsbooks, and other gaming platforms process massive traffic daily.

The market boasts a vast range of tools for efficient information analyses. Nevertheless, operators must understand and choose the most prevalent data to lead specific projects to success. Here, KPIs come in handy.

Most Crucial iGaming KPIs: Luka Markota’s Opinion

The Head of Platform and the Director of Operations at iGP, an entertainment tech developer, shared insights on the most valuable business characteristics. His assessment is based on a multi-year experience in marketing, management, gambling, and other industries.

Mr Markota identified the 6 most crucial iGaming KPIs:

Deposit Conversion Rate

The indicator calculates the percentage of website visitors who transform into depositors. The expert considers this parameter one of the segment’s most significant. He believes the information about the 1st and potentially 2nd player account replenishment often demonstrates the benefits users bear for the business.

Mr Markota underlined the importance of integrating adequate technology to track, monitor, and analyse the obtained data. Such software modules also guide operators in increasing the number of unique visitors converting into depositors.

Average Revenue Per User (ARPU)

This KPI allows entrepreneurs to understand better whether their products are engaging enough for the audience.

The metric also gives insight into the following aspects:

1. Profitability. With this indicator, operators determine their offering’s current and potential lucrativeness and can build long-term strategies driven by received data.
2. Consumer behaviour. The parameter is especially useful for subscription services. It helps platform owners study player spending patterns with a specific solution and vertical. For instance, unlike media fans, iGaming customers invest dramatically different sums of money into entertainment.
3. Performance. The parameter is often used to compare the activities of several companies. Amusement studios consider ARPU when exploring which offers work well and which require a different approach.

Customer Lifetime Value (LTV)

The metric assists operators in calculating the benefit each client can bring to the business. This KPI helps entrepreneurs decide how to distribute investment in player acquisition and retention campaigns.

Mr Markota stated that if a punter leaves the platform before repaying the money spent on them, the project owner gets nothing from this visitor. The first deposits may reveal user value.

The expert also believes LTV is perfect for identifying long-term prospects instead of focusing on a one-time purchase prognosis.

Retention Rate

The indicator demonstrates the percentage of gamblers who continue playing games on a website over a specific period. This factor showcases how well an offer resonates with the audience.

A high rate means a well-thought-out and efficient system of client relationship management. The metric involves several sub-parameters, like the number of inactive accounts or bettors who repeat deposits.

This characteristic is handy for short- and long-term business plans. If a gambling administrator ensures a high rate, their costs may be significantly reduced since retaining customers is cheaper than acquiring new ones.

Monthly Active Players

This data is crucial in checking the general state of a current client base. Visitors are usually classified as engaged punters if they have conducted a specific action on a platform for approximately 30 days.

The list of potential operations includes:

• placing a wager;
• logging in the system;
• replenishing the account, etc.

To better understand the monthly parameter, many entrepreneurs consider the daily one. Narrowing the point gives more insight into how gamers interact with a gambling offering.

Average Deposit Rate

Thanks to this KPI, operators explore user behaviour and improve related promos and bonuses. Mr Markota recommends finding out the factors that impact the depositing rate and categorising it by player demographics.

Once a platform owner determines the reasons, they can develop a detailed plan for tracking and utilising the valuable data to enhance performance. The final number is rarely stable, but business people must detect what affects the figure.

Significance of Expertise for Success

Mr Markota is convinced that operators should do more than just learn top KPIs to discover a gambling project’s strong and weak points. Thus, his company values its teams’ vast experience in product and technology creation and integration. The corporation delivers comprehensive reports to its customers, ensuring they understand the player base’s state.

The expert believes providing operators with analytics is vital for shaping an accurate and contextual vision. iGP constantly tracks the top 6 KPIs and, based on the information received, provides clients with statistics and recommendations on boosting and maintaining activity.

Such an approach helps entrepreneurs in the following tasks:

• driving business growth;
• keeping high competitiveness;
• enhancing the player experience, etc.

This algorithm allows gambling managers to make data-driven decisions, resulting in more benefits and new opportunities.

Measuring and Reporting KPIs: Challenges

Mr Markota identifies 2 aspects that may complicate calculating performance indicators:

• weak integration process;
• the industry’s “closedness”.

An iGaming platform must be powered by powerful software to successfully import and analyse the necessary information. If the website’s capabilities are insufficient, data processing may result in inconsistencies and wrong conclusions.

Another challenge is niche companies’ refusal to share valuable (but not sensitive, private) discoveries. Some studios hide part of the information that can benefit them. The lack of available data creates obstacles. In this scenario, iGP relies on its team’s rich experiences to overcome the hurdles.

The tech developer always strives to surpass operators’ expectations in defining KPIs and ensuring the best performance possible. Client feedback is fundamental for the provider, using the information received to improve its solutions.

In Mr Markota’s opinion, the segment could be more open about data to meet players’ needs better and understand them more deeply. For iGP, it is essential to keep an open dialogue with gambling managers and assist them in reaching the top of each indicator.

The Main Things About the Most Substantial iGaming KPIs

Performance metrics are essential factors that help operators track their activities and configure strategies accordingly for reaching success. Defining these characteristics is the first step towards business prosperity.

Let us review the central notions from the article:

• The top 6 iGaming KPIs comprise ARPU, customer LTV, monthly active players, as well as deposit conversion, retention, and average account replenishment rates.
• Operators should do more than learn top indicators to discover a gambling project’s strengths and weaknesses: expertise and regular reporting are crucial.
• A weak integration process and the industry’s “closedness” are 2 aspects that may complicate calculating performance parameters.
• The segment should become more open about data to meet players’ needs better and understand them deeply.

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