ARPU / ARPPU

Average revenue per user (all users) or per paying user (depositors only) — density metrics for portfolio comparison.

ARPU spreads revenue across all actives; ARPPU concentrates on depositors — the pair describing monetization depth versus base breadth.

Reading them together

High ARPPU with low ARPU flags whale-dependence (concentration risk the RG era prices differently); converging values indicate broad monetization. Cross-market comparisons need the denominators pinned (active definitions vary). For affiliate analytics, per-partner ARPPU comparisons expose traffic character — bonus-hunter cohorts versus genuine-player cohorts diverge here before they diverge in totals. Every ARPU claim needs its window and user definition attached, or it’s a decoration.