Every affiliate in iGaming eventually faces the same question. Should you take a share of the revenue a player generates over time, or a fixed fee for each player who qualifies? The two main models are revenue share and cost per acquisition, usually shortened to RevShare and CPA. Both can work well, and both can disappoint, depending on the traffic you send and how patient your business is.
This article sets out how each model works, where the trade-offs sit and how to decide which deal suits your site. It is written for affiliates, but operators who negotiate with partners will find the same logic useful.
How a RevShare Deal Works
Under a revenue share agreement, the affiliate earns a percentage of the net revenue the operator makes from the players it referred. Payments usually continue for as long as those players stay active, which can be months or years. The exact calculation depends on the contract, and most operators deduct certain costs before the share is applied, so the detail in the terms matters.
The appeal is clear. Your income grows with the quality of the players you bring in, and a well-matched audience can produce steady payments long after the first sign-up.
How a CPA Deal Works
A CPA deal pays a fixed amount for each qualifying player. The definition of qualifying is set in the agreement and often includes a minimum deposit or a minimum activity level. Once the threshold is met, the payment is made, and the relationship with that player is effectively complete from the affiliate’s point of view.
The attraction is predictability. You know what each conversion is worth, which makes it easier to plan campaigns, set bids and judge short-term returns.
Payout Timing and Cash Flow
CPA pays quickly, which helps with cash flow, particularly if you are paying for traffic upfront. RevShare pays more slowly at first because income builds over time. For a new site without much working capital, this can be a real constraint, even when the long-term maths looks strong.
Before you commit, ask the operator when payments are made, what the minimum threshold is and how often statements are issued. Those details affect your cash flow as much as the headline rate does.
Risk and Player Quality
RevShare shifts some risk onto the affiliate, because your income depends on what players do after they sign up. If the players you refer are casual, or if they leave quickly, your earnings fall. CPA moves more of the risk to the operator, who pays for a player whether or not that player becomes a long-term customer.
That does not make CPA risk-free for affiliates. A CPA-only strategy can encourage chasing cheap sign-ups, which may bring in players who never qualify, or who cost you credibility with the brands you promote. Quality of traffic matters under both models.
Which Traffic Suits Each Model
There is no universal answer, but some patterns are common. Sites with loyal readers who return over many months often do well with RevShare, because each engaged reader keeps adding value. Sites built around short campaigns, seasonal events or paid traffic often prefer CPA, because the conversion value is clear from the start.
Many experienced affiliates use both. They keep a RevShare core for long-term income and use CPA deals for campaigns where they want fast, measurable returns.
Questions to Ask Before Signing
- How is net revenue defined, and which costs are deducted before the share is calculated?
- How long does a RevShare commission last, and is there a cap?
- What exactly counts as a qualifying CPA player, and how is that verified?
- When and how are payments made, and what is the minimum payout?
- Are there restrictions on the traffic sources you can use?
Reviewing Your Results
Once you have been running a deal for a few months, look at the numbers honestly. Compare the value of each player over time, not just the first payment. Track the cost of the traffic that produced each player, and note how often the deal terms change. A deal that looks generous on paper can be less attractive once you account for churn, delayed payments and the effort involved.
The best model is the one that matches your audience, your cash position and your tolerance for uncertainty. Work through the numbers, ask the right questions and revisit the decision as your site grows.
