How Much Do Online Casinos Really Make: The Truth About the Dark Side of the Industry

Online casinos are not just gambling businesses, they are a real gold mine for those who know how to use it correctly. However, not everyone can mine this gold mine. Putting a few dozen slots on a website and waiting for millions to pour in is a fairy tale for those who don’t know how gambling works. However, the reality is much more complicated. In order for an online casino to bring in stable and large incomes, you need to competently manage all aspects of the business: from attracting players to managing games and payments. Now let’s talk specifically about how much casinos actually earn, and why some prosper , while others go bankrupt in just six months.

Content:

Who and how makes money in the world of online casinos?

RTP - who plays fair and who "bends" players?

Why do casinos prefer to connect to providers through intermediaries?

How do casinos pay for players' losses and wins?

So how much do online casinos actually make?

Examples of real casino income

Who makes money in the online casino world and how?

Let's start with the most important thing: not all casinos make money . Those who dream about it, after six months, rake in their leftovers and flee the market without even recouping their initial investment. The reason is simple: in the world of online casinos, success does not depend on luck. Players need luck. For casino owners, something completely different is important - the ability to properly attract and retain players , squeeze money out of them and wisely reduce risks.

1. Traffic is the casino's gold

Traffic is the key to online casino success. Let's be honest: if you don't have players, you don't have money. Period. But that's just the tip of the iceberg. In reality, attracting new players is one of the most expensive parts of the business. On average, attracting one active player who will consistently replenish their balance costs from $100 to $500. And if the casino is large, then even more. That's why most casinos use aggressive advertising, constantly play their ads and pay bloggers and streamers to lure new victims.

2. Advertising is the most powerful engine of gambling

Every time you see an advertisement for a new casino with bright banners and promises of fabulous winnings, know: advertising is expensive, but it is the casino's main weapon in the fight for customers. They play on everything: on your greed, on the fear of missing out on something important, on promises of easy money.

Affiliate programs are another important part of advertising. You've probably seen bloggers and streamers with a smile on their faces spinning slots and convincing you that it's "fun" and "profitable." They make good money on this because the casino pays them for each player they bring. There are plenty of examples: from YouTube to Twitch, and all of them are paid for by casinos that are simply desperate for new players. Each new client is potential money in the casino owner's pocket.

RTP - who plays fair and who cheats players?

Now about the hottest topic - RTP (Return to Player), or how the casino makes money out of thin air. This is an indicator that determines how much money is returned to players, and how much remains in the casino's pockets. In fact, the lower the RTP, the more the casino earns . Therefore, if you notice that some slot literally "eats" your money - know that the casino has lowered the RTP on this machine.

1. Reducing RTP: How Casinos “Inflate” Their Income

Casinos with big profits rarely play fair. They reduce RTP in slots to a minimum, and this allows them to earn more money from players. There are many legal ways to do this - from setting RTP on each machine to an agreement with providers that allows you to set your own values. All this is legal and is part of the rules of the game. If a casino sets RTP at 88%, this means that out of $100, only $88 will return to players in the form of winnings, and $12 will remain with the casino. It would seem like a little, but multiply this by millions of spins - and you will understand how much money is earned on your losses.

Guides

Reduced RTP in Slots – Casinos’ Manipulations explained

Linked materials

2. Casinos that don't reduce RTP, but still make money

There are also casinos that try to maintain a fair RTP. But even they don’t lose. How do they do it? It’s simple: they have regular players who come back again and again. This approach may seem noble, but it’s a business, and even if the casino doesn’t lower the RTP, they still win at the expense of those who play consistently and often. Losing a little, you go back into battle, and this brings the casino a steady income. But, of course, honest casinos earn less than their greedy colleagues.

Why do casinos prefer to connect to providers through intermediaries?

Here we come to another interesting part - slot machine providers. Have you ever wondered how a casino gets access to slots and other games? Why not all sites offer the same games? The reason is simple: most casinos prefer to connect through intermediaries rather than directly to the developers. Let me explain why this is beneficial.

1. Intermediaries offer better conditions

Connecting directly to a provider is, of course, cool and prestigious, but it is not always profitable for a casino. Intermediaries allow casinos to save money. They offer game packages from different providers at once and at a better price. It's like going to a supermarket in bulk: cheaper and faster. In addition, intermediaries provide flexibility - a casino can get games from several providers at the same time, and this makes their range more diverse.

2. What happens to casinos that operate directly?

Those casinos that decide to go it alone and connect directly to each provider face huge costs. Negotiating terms, payouts and percentages with each provider is a difficult and expensive task. Such casinos incur large operating costs and spend a lot of money to maintain their operations. As a result, they can quickly fly out of the market if they do not find the right balance between revenue and expenses.

How does the casino pay players for their losses and winnings?

Now about what many do not understand: who pays for the losses and wins of players in the casino ? It would seem that slot providers should compensate the casino for large wins, but everything is not so simple.

1. Losses - the casino pays the provider

When you lose your money on a slot, the casino is required to pay a portion of that money to the provider . This is called a loss fee. The more you lose, the more the casino must pay the provider for using their game. Yes, the casino makes money off of you, but the provider also gets a cut of every bet you lose.

2. Winnings are a headache only for casinos

Now here's the fun part: when you win on a slot, the casino pays you out of its own pocket . Providers don't pay for winnings - the casino takes full responsibility. That's why casinos are so afraid of big wins - it can literally "hit your pocket". That's why many casinos lower RTP and try to minimize your chances of winning.

So how much do online casinos actually make?

To better understand how much casinos earn, let's look at the facts. According to analysts, the global online gambling market exceeded $80 billion in 2024 and continues to grow. Forecasts say that by 2027 the market could reach $145 billion. At the same time, the lion's share of this pie is online casinos, slots and card games such as poker and blackjack. The numbers are impressive, but this is an average for the entire industry, and it is important to understand that most of this money ends up in the pockets of the largest and most successful casinos.

1. Average Online Casino Profit: Indicative Figures

Now let's talk about the average profit of an online casino . Much depends on the size of the casino, its strategy and the number of players. Large casino operators with a large number of players can earn between $10 and $50 million per month , and during peak periods, such as sports championships or large promotions, these figures can double.

For mid-sized casinos that have a steady but not huge customer base, average revenue can range from $1 million to $5 million per month . Of course, these are average figures, because much depends on the region of operation, marketing costs, player payouts, and other operating expenses.

Small or new casinos that have just started their operations can earn several hundred thousand dollars per month , but this is provided that they have a steady flow of players. It is the lack of traffic that is one of the main reasons why small casinos often close within a few months of opening.

2. How is casino profit formed?

Casino profits consist of several main streams:

• Player losses : This is the most obvious source of income. The more players lose, the more the casino earns. However, it is important to remember that the casino pays providers for every loss in their slots, so part of the income goes in the form of commissions.
  
• Deposit percentage : Many casinos make money not only from losses, but also from the deposits themselves. Some companies charge a small commission when depositing money into a player's account, especially if it involves credit cards or other payment systems.
  
• Advertising revenue : Large casinos can earn money by selling advertising space on their sites, or through affiliate programs with other gaming platforms. This can be a significant part of their income, especially for larger operators.
  

3. Working with VIP players

VIP players are a gold mine for any casino. These are the players who regularly place large bets and play for huge amounts. VIP programs include exclusive bonuses, higher betting limits, and personalized offers. These players bring the lion's share of the casino's revenue, as their deposits and losses are measured in tens of thousands of dollars.

Example: One of the world's major casino operators once revealed that about 5% of its players account for more than 80% of all revenues . This confirms that targeting VIP players can be a real key to success.

4. Optimization of bonuses

Bonuses are a powerful tool for retaining players , but they are also expensive. That is why casinos have learned to cleverly manipulate bonus offers. On the one hand, they lure players with generous deposit bonuses, free spins and promotions, on the other hand, they create such wagering conditions that it is very difficult to get real winnings from the bonus. Many players do not even suspect that most casino bonuses are designed to leave money in the casino's pocket.

Examples of real casino income

To illustrate how much casinos can earn, here are some real examples:

• 888 Casino is one of the largest gambling companies in the world. In 2022, their revenue was over $850 million, with pre-tax profit exceeding $75 million. The main sources of income are online casinos and poker.
  
• Stake — since its launch in 2017 Stake Casino has become one of the leaders in crypto gambling. Although the exact figures for the company's revenue are not officially disclosed, industry estimates put Stake's revenue in 2022 at over $500 million, a conservative estimate. The main reason for this success is the active use of the platform for betting on sports, fast crypto transactions and large-scale affiliate programs.
  
• LeoVegas is a relatively young but already successful casino operator, earning over $400 million in 2021, and the company's net profit was about $30 million. They focus primarily on slots and mobile gambling, which allows them to attract a young audience and quickly increase revenue.

Conclusion: Casinos make millions, but not everyone succeeds.

Online casinos are not just a business, they are a real industry, where every player is a potential source of income. The most successful casinos earn millions of dollars monthly, but behind this success there are huge costs for attracting players, advertising and bonuses . As in any business, it is important to be able to manage resources wisely and minimize risks. And for those who do not know how, the market quickly shows who is the boss here.

Ultimately, online casinos can generate incredible profits, but only for those who know how to manage the business, invest in traffic, and minimize operating costs. Those who are not prepared for these challenges simply won’t be able to last long and will disappear as quickly as they appeared.