Grizzly Bulls
Financial research concept

iGaming Average Monthly Players

measure average monthly active online casino players under an issuer's settled-bet, incentive, brand, and product-category counting rules.

By Lee BaileyPublished Sep 29, 2026
Research context

See what supports this page, how current it is, and where comparable or historical context is available.

Research date
Sep 29, 2026Use the dated article and cited sources for the definition, examples, and stated limitations.
Operating-model context
10 connected conceptsPart of the reviewed Online Sports Betting & iGaming Economics; issuer definitions remain distinct where disclosed.
Company examples
1 reviewed companyRelationships reflect supported examples, not a normalized cross-company KPI ranking.
  1. Flutter counts settled activity rather than incentive-only users
  2. Product-level AMPs are not the same as platform-level payers
  3. Part of the Online Sports Betting & iGaming Economics
  4. See It in Company Research
  5. Continue Research

iGaming average monthly players (AMPs) measure the average monthly player base active in online casino products under the issuer's counting methodology.

Flutter reported 1.0M U.S. iGaming AMPs in Q2 2026, up 14% from 0.9M a year earlier.

Flutter counts settled activity rather than incentive-only users

Flutter defines AMPs as players with a settled bet or a contribution to rake or tournament fees during the month. It excludes users who only used new-player or retention incentives, and the metric covers online activity rather than retail play.

At the product-category level, a customer can be counted once in iGaming and once in sportsbook if the same person uses both.

Product-level AMPs are not the same as platform-level payers

Flutter notes that duplication can also arise when the same person uses multiple brands. DraftKings' monthly unique payer definition follows a different platform-level methodology and spans a broader set of products.

Read iGaming AMPs with iGaming revenue to separate player growth from revenue growth. The ratio between the two can be analytically useful, but it is not an issuer-reported standardized ARPU unless the company defines it that way.

Primary source: Flutter Q2 2026 Form 10-Q.

Part of the Online Sports Betting & iGaming Economics

Connect paying-user scale and monetization with sports wagering volume, sportsbook revenue and realized margin, iGaming revenue, and the structural, sports-result, and promotional drivers of sportsbook hold.

Browse the full operating model in Company Analysis →
Where this concept fits
  • Player scale and monetizationCurrent relationship
    Monthly Unique Payers measure DraftKings platform-level paying-user scale, ARPMUP measures average revenue across that payer base, and Flutter iGaming AMPs isolate product-category player activity under a different methodology. These user metrics are complementary but not standardized synonyms.
    iGaming Average Monthly PlayersCurrent conceptAverage Revenue per Monthly PayerMonthly Unique Payers
  • Sports volume, revenue, and realized margin
    DraftKings Sports Consumer Volume measures settled customer wagers or trades across Sportsbook and Prediction Markets, Sports Net Revenue Margin relates current sports revenue to that broader volume, and Flutter sportsbook revenue provides a cleaner sportsbook-only revenue view. Current DraftKings sports scope must not be treated as pure sportsbook handle or revenue.
    Sports Consumer VolumeSports Net Revenue MarginSportsbook Revenue
  • iGaming revenue and sportsbook margin bridge
    iGaming revenue is tracked separately from sports betting, while Flutter decomposes realized sportsbook margin into underlying structural margin, period sports-result effects, and promotional-spend effects. Those drivers explain hold movement without creating a standardized cross-operator margin formula.
    iGaming RevenuePromotional Spend Margin ImpactSports Results Margin ImpactStructural Revenue Margin

See It in Company Research

These companies are examples of how the concept is reported or discussed in public filings. Definitions can differ by issuer; these links open company research rather than a normalized metric comparison.

Explore other companies in this operating model

These companies are linked to at least two other reviewed concepts in the same operating model, but are not currently linked to this concept. This is broader research navigation, not evidence that the company reports an equivalent metric.

Continue Research

Continue from the concept into the Grizzly Bulls research surface that best matches the next question. These links are research continuations, not recommendations or required steps.

Compare stocks

Compare iGaming player scale

Compare active iGaming player counts while preserving each issuer's settlement, incentive, brand-duplication, and product-category rules.

Continue research

Explore more topics in the Financial Research Encyclopedia.