Two ways to pay an affiliate
Every affiliate programme has to answer an early question: when does the affiliate get paid? In iGaming, two models dominate. Cost per acquisition (CPA) pays a fixed fee for a referred player. Revenue share (RevShare) pays a percentage of the revenue that player generates over time. Many operators offer one, the other, or a hybrid of both.
The difference sounds simple, but it changes who carries the risk once a player signs up, and that is what most affiliates should really be comparing.
How CPA deals work
CPA is the simpler of the two. Vendor comparisons commonly describe casino CPA payments of roughly $50 to $300 per first-time depositor, though the exact figure depends on the operator and the market. Most deals also set qualification conditions, such as a minimum deposit or a window within which the first deposit must happen.
The appeal for affiliates is predictability. The money arrives quickly and does not depend on how the player behaves afterwards. The downside is that the affiliate is paid once and has no stake in whether that player is still active six months later. That tends to reward volume, and it is why some operators treat CPA as a risk when players churn fast.
How RevShare deals work
RevShare reverses that arrangement. In casino programmes, the commission is usually a percentage of net gaming revenue (NGR). Quoted ranges vary widely, and one vendor guide puts typical NGR shares at 25 to 40 per cent, while another lists 25 to 45 per cent. Always check the offer in front of you rather than relying on a general range.
The earnings are recurring. A worked example from one vendor shows a player generating $15 a month in NGR at a 35 per cent share, which pays the affiliate $5.25 a month. The sum is small on its own, but if that player stays active for a long time, the cumulative total can eventually overtake a one-off CPA payment. That is the core logic of RevShare: the affiliate is rewarded for sending players who keep playing.
Negative carryover: the clause to read first
The most contested feature of RevShare is negative carryover. When a player wins heavily in one month, the operator’s net revenue from that player can turn negative. Under a carryover policy, that deficit rolls forward and must be cleared before the affiliate earns again. One vendor example uses 800 euros of NGR less a 500 euro carryover, leaving 300 euros to share. The affiliate’s payment falls sharply in that month, even though the player is still active.
Before signing, affiliates should ask two questions. Does the operator carry negatives forward, and for how long? Does it deduct bonus costs before calculating NGR? Some programmes now advertise no negative carryover as a selling point, which tells you how much the policy matters to affiliates.
Where the hybrid fits
Hybrid deals combine a reduced CPA payment with a lower RevShare percentage. They are common early in a relationship, when an operator wants to test traffic quality and an affiliate needs steady cash flow. A common pattern is to start with a hybrid and move toward a higher RevShare once player quality is proven.
One software vendor claims that operators using hybrid models report 31 per cent higher NGR per active affiliate than single-model programmes. That figure comes from a company that sells programme tools, so treat it as a directional claim rather than independent evidence.
Who carries the risk
With CPA, the operator carries the risk of a player who leaves quickly, and the affiliate is already paid. With RevShare, the affiliate shares that risk, because a player who churns early earns very little. That is why content and SEO sites, which build audiences over months and years, tend to suit RevShare. Their players tend to stay, and their income grows alongside the audience.
Paid traffic buyers, who need fast and predictable returns on media spend, often prefer CPA. The model should match the traffic, not the other way round.
A practical checklist
- Confirm whether NGR or GGR is the base, and which deductions apply.
- Ask how negative carryover is handled and how long it runs.
- Check the qualification rules for CPA, including minimum deposits and wagering thresholds.
- Model the deal against realistic player values before committing.
The bottom line
CPA gives affiliates certainty. RevShare gives them alignment and upside, but only if the carryover terms are fair. Neither model is better in every case. The right choice depends on the affiliate’s traffic, cash flow and appetite for risk, and on how transparently the operator reports its numbers.
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