Affiliates earn money when referred players register and deposit at a casino or sportsbook. Depending on the commission model, they get either a fixed payout per player (CPA), a percentage of the revenue that the player generates over time (RevShare), or a combination of both (Hybrid). But how do you decide between CPA and RevShare to weigh all the pros and cons of each model?
How do iGaming affiliates make money?
iGaming affiliate programs are partnerships between online casinos or sportsbooks and affiliates. Advertisers provide offers, and affiliates promote them and drive players to sign up and deposit. Thus, partners earn a commission for each qualified player they refer.
The Best iGaming Affiliate Programs 2026: RevShare vs CPA comparison published by Big Betty Partners examines payout conditions, tracking, and long-term player value. The question for affiliates is not simply which rate is higher. Which model makes sense for their traffic and cash flow?
What are the pros and cons of the CPA model?
Here’s a quick summary:
Pros of the CPA payment model
| #1 | Fast payouts. | One of the main arguments in favor of CPA is the ability to get paid fairly quickly. Of course, there’s still a hold period, but compared to RevShare, where earnings depend on a player’s long-term activity, CPA comes out on top: once a qualifying deposit is approved, the commission becomes payable according to the program’s terms. |
| #2 | Straightforward economics. | With CPA, everything is calculated simply. You know the agreed payout for each qualified FTD, and you can estimate the campaign’s potential returns in advance. It’s a convenient model for testing, optimization, and ROI planning. It doesn’t depend on how the player behaves after registration — the entire economic model is tied to the first deposit. |
| #3 | Scalability. | Once you’ve found a winning combination, you can quickly scale up your volume. This is especially valuable for arbitrageurs who know how to aggressively buy traffic and get the most out of their sources. |
| #4 | Wide selection of offers. | CPA remains the most widespread model on the market. Affiliate programs feature the largest number of such offers. This provides flexibility — if one offer “burns out,” you can always switch to an alternative and keep going. |
Cons of CPA in Arbitrage
| #1 | Long hold period. | Even with “fast payouts,” advertisers may set hold periods that vary depending on the program. For beginners and those on a limited budget, this can be a problem — funds are tied up for a long time. |
| #2 | Deposit cuts. | Not all FTDs make it to approval. Some players may be rejected due to the advertiser’s internal rules — and your revenue decreases. |
| #3 | Cap limits. | Many offers start with test limits. If you have a ready volume of traffic, cap limits can hinder the scaling and growth of your campaign. |
| #4 | Offer closures. | Offers can be shut down suddenly. And the advertiser doesn’t always pay for the traffic you’ve already sent that didn’t meet the conversion criteria. As a result, part of your investment may go to waste. |
What are the strengths and weaknesses of RevShare?
The entire logic of traffic monetization has changed: payments are no longer tied to immediate conversions, but there’s now an opportunity to earn more over a longer period from each user.
Pros of the RevShare payment model
- A steady stream of revenue from a single user. Even if a user registered a long time ago and only became active later, revenue still trickles in. Monetization is spread out over time and can last for months.
- User retention. If the first touchpoint (visit, click, registration) came from your traffic, the user’s subsequent activity may continue generating revenue, depending on the program’s attribution rules. This is especially beneficial when tracking systems can reliably connect returning users to their original referral.
- Strong network effect as you scale. The more products you have in a specific GEO, the higher the chance that a user will visit one of your projects — and continue to generate revenue. With each new user, the likelihood increases that the next one will also remain in the ecosystem.
- Higher long-term earning potential. Yes, RevShare doesn’t offer quick payouts, but over the course of several months, revenue per user can exceed a fixed CPA payment, especially if user retention and cross-selling are effective.
Cons of the RevShare payment model
- There’s no fixed payment — which means greater uncertainty. It’s harder to predict traffic performance and plan volumes.
- It’s difficult to scale marketing blindly. With CPA, you can quickly test ad combinations and creatives. You see the payout — you keep running the campaign. With RevShare, you may need several weeks or longer before drawing conclusions. This slows down the optimization cycle and requires more cash on hand for testing.
- Increased costs for analytics and user retention. To earn more, it’s important to understand user behavior over the long term. You need to track LTV, retention, return channels, and cross-product activity — and that requires more analytical resources.
If the model is set up correctly, the user base becomes a long-term source of passive income that trickles in the background, even without active campaigns.
RevShare isn’t about quick money; it’s about the cumulative effect.
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