Quarterly report pursuant to Section 13 or 15(d)

17. Revenues

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17. Revenues
 3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
17. Revenues

17. Revenues

 

The following table represents disaggregated revenues from our gaming operations for the three months ended March 31, 2022 and 2021. Net Gaming Revenues represents Turnover (also referred to as “Handle”), the total bets processed for the period, less customer winnings paid out, and taxes due to government authorities, while Service Revenues is revenue invoiced for our Elys software service and royalties invoiced for the sale of virtual products.  

 

                 
    Three Months Ended March 31,
    2022   2021
Turnover        
Web-based   $ 215,780,282     $ 231,332,159  
Land-based     1,785,107       11,825,830  
Total Turnover     217,565,389       243,157,989  
                 
Winnings/Payouts                
Web-based     200,853,821       215,598,415  
Land-based     1,400,413       10,164,937  
Total Winnings/payouts     202,254,234       225,763,352  
                 
Gross Gaming Revenues                
Web-based     14,926,461       15,733,744  
Land-based     384,694       1,660,893  
Gross Gaming Revenues   15,311,155     17,394,637  
                 
Less: Gaming Taxes     (3,730,830 )     (3,329,038 )
Net Gaming Revenues   11,580,325     14,065,599  
                 
Betting platform software and services     655,661       91,729  
Revenue   $ 12,235,986     $ 14,157,328