Average Revenue Per User in iGaming Explained

Average revenue per user is a business metric used by online casino and sportsbook operators. It estimates how much revenue the company earns, on average, from active customers over a defined period. In iGaming reports, readers may also see ARPMAU, which usually means average revenue per monthly active user.

Rush Street Interactive’s Q2 2026 release gives a current example. The company reported ARPMAU of $320 in North America and $55 in Latin America for the quarter, while also describing strong monthly-active-user growth in North American online casino markets. Those numbers are useful for investors. They are easy to misunderstand as a player.

What the metric includes

The exact calculation can vary by company, but the idea is normally revenue divided by active users for the relevant market and period. In gambling, revenue is not the same as deposits. It is closer to the operator’s retained gambling revenue after wins, bonuses and adjustments defined in that company’s reporting. A customer may deposit much more or much less than the average, and two customers with the same deposit total can produce very different revenue outcomes depending on wins, bonuses and withdrawals.

That is why ARPU should never become a personal benchmark. If an operator reports $320 ARPMAU in one region, that does not mean $320 is a normal, safe or recommended gambling budget. It is an aggregated business figure across many users. Some may be low-stake players; some may be inactive for part of the period; some may lose far more than the average.

For background, TopGamb readers can pair this explainer with our pages on random number generators, house edge, implied probability, loss limits, casino game aggregators and regulated iGaming markets.

What players should take from it

The most useful player takeaway is that online gambling companies track engagement carefully. Active users, average revenue, retention and market-level growth are not casual dashboard numbers. They shape marketing, product design, promotions and investment decisions. A player should assume the casino or sportsbook is better at measuring behaviour than the player is at remembering it.

The responsible response is to measure your own behaviour in simpler terms: planned budget, actual deposits, withdrawals, net result, time spent and whether gambling stayed inside the purpose you set for it. If your personal numbers are hard to face, that is more important than any operator’s investor metric.

Reader Questions

Is ARPU the same as average player loss?

Not exactly. It is a company revenue metric and depends on the company’s definitions. It should not be treated as a clean estimate of what a typical player loses.

Can ARPU help me choose a casino?

Only indirectly. It may show how a business is performing, but players should choose based on licensing, game rules, cashier reliability, limits, support and whether gambling fits their budget.

Sources

• SEC filing: Rush Street Interactive Q2 2026 results exhibit
• Rush Street Interactive 2025 Form 10-K
• Gambling Commission: safer gambling
• National Council on Problem Gambling: responsible gambling