How to calculate player LTV in iGaming: formula, benchmarks and what operators get wrong

Operators still treat player lifetime value as one average for the whole base. That average collapses under real account data. Forrest and McHale’s 2024 study of about 140 000 British gambling accounts found the top 20% of customers generated 89.2% of net revenue, while the bottom half contributed 0.51%. Blend those c…