Okay so the big lie in gambling affiliates is that first deposit stat they love to flaunt. You see 300 euros per FTD and think you're golden. Been pushing a few offers for 6 months now and finally got proper cohort data back from an honest AM. The truth is ugly. You might convert at 2% on that first deposit, sounds decent. But the month-2 player retention rate on most of these programs is sitting at like 15%. By month 3 you're looking at maybe 7% of your players still active. So your real effective CPA, if you want actual recurring revenue, is more like the FTD bounty divided by that tiny retention percentage. Makes a 300 payout feel more like 40 over a quarter unless you're driving insane volume constantly. What does the proof ladder look like here? Demand to see net revenue share reports, not just tagged deposits. Track cohorts yourself with a simple spreadsheet if they give you player IDs. If they won't provide that level of data, assume you're being paid for churn traffic and your true ROAS will never scale. For most offers these days, nano-influencers talking about their small wins deliver better long-term value than any banner ad blitz because they drive sticky users