NGR (Net Gaming Revenue) starts from GGR and subtracts the direct costs of generating it. It is the figure that reflects what an operator actually keeps.

A common definition looks like this:

NGR = GGR − Bonuses − Gaming taxes − Payment fees − Platform/content fees − Affiliate commissions

Why the exact definition matters

NGR is contractual rather than universal: affiliate agreements and management contracts each specify which deductions apply. A 30% revenue share on GGR and the same percentage on NGR are very different commercial propositions, so always confirm the base before signing.

A detailed breakdown with worked P&L examples is in GGR vs NGR.