Revenue share pays an affiliate a percentage of the net revenue its referred players generate, for as long as they play. CPA (cost per acquisition) pays a fixed amount once, when a referred player meets the qualifying conditions. Hybrid deals combine a smaller CPA with a smaller revenue share.
The short trade-off: CPA moves the risk to the operator and pays the affiliate now. Revenue share keeps the affiliate exposed to player value, both up and down, and pays over time.
All three structures appear in published operator terms. bet365 partners describes commission as revenue share, CPA “as a one-time payment for each new Active Customer”, or a combination, each agreed in writing. 888 Affiliates lists CPA, revenue share and hybrid plans. Terms below were checked on 4 November 2026.
How each model pays
| Revenue share | CPA | Hybrid | |
|---|---|---|---|
| Paid on | % of NGR from referred players | Fixed fee per qualifying player | Lower fixed fee plus lower % of NGR |
| Trigger | Ongoing player activity | First deposit plus conditions (minimum deposit, wagering, time window) | Both |
| Duration | Life of player, or as the contract says | Once | CPA once, share ongoing |
| Exposure to player wins | Yes, and possibly negative carryover | No | Partial |
| Cash timing | Slow build | Front-loaded | Mixed |
What counts as a qualifying player
CPA definitions are strict, and operators publish them. Betsson Group Affiliates counts a CPA “New Customer” only if the first deposit, at least the minimum, is made within 60 days of registration (terms, version 52). Super Partners pays its CPA when a customer registers, deposits the minimum and meets minimum wagering agreed with the affiliate manager, and states that no further payments are owed for that customer (terms).
What revenue share is calculated on
Revenue share is a percentage of net revenue, and each programme defines its own deductions: bonuses, taxes, chargebacks, jackpot contributions and sometimes game provider fees. We compare three published definitions in our NGR explainer. Super Partners publishes a 25% standard rate on casino and sport, which steps down to 20%, 10% and zero if new active customer targets (30, 60 and 90 over 6, 12 and 18 months) are missed.
Negative carryover
When referred players win, NGR goes negative. Negative carryover means that negative balance is carried into later months and must be earned back before commission is paid again. Published terms take three different approaches:
- Reset to zero, with exceptions. Super Partners sets negative balances from winnings, non-cash items and progressive contributions to zero each month, but carries over negatives caused by fraud.
- High-roller carryover only. Super Partners and Betsson both carry forward the negative revenue of individual high rollers ($10,000 and €10,000 negative in a month respectively) against that player’s future revenue.
- Netting across products. bet365 partners states that negative commission balances in any vertical are deducted from available commissions.
Worked example: one bad month
Illustrative only. An affiliate on 30% revenue share has these NGR results:
| Month | NGR (€) | With full carryover | With monthly reset |
|---|---|---|---|
| 1 | −20,000 | Commission 0; balance −20,000 | Commission 0; reset to 0 |
| 2 | 15,000 | Commission 0; balance −5,000 | Commission 4,500 |
| 3 | 15,000 | Commission 3,000 (30% of 10,000) | Commission 4,500 |
| Total | 10,000 | 3,000 | 9,000 |
Same players, same three months. The carryover clause decides whether the affiliate earns €3,000 or €9,000.
Revenue share vs CPA over 24 months
Illustrative assumptions, not drawn from any programme:
- 100 qualifying players referred in month 1.
- CPA offer: €150 per player.
- Revenue share offer: 30% of NGR.
- Average NGR per referred player: €60 in month 1, €40 in month 2, €25 a month in months 3 to 12. Then 30 of the 100 players remain active in year 2 at €25 a month. No negative months.
CPA: 100 × €150 = €15,000, paid around month 1 or 2.
Revenue share, year 1: NGR per player = 60 + 40 + (25 × 10) = €350. Total NGR = €35,000. Commission at 30% = €10,500.
Revenue share, year 2: 30 players × €25 × 12 = €9,000 NGR. Commission = €2,700.
Two-year total on revenue share: €13,200, still below the €15,000 CPA. Change one input, retention, and the answer flips: if 50 players stay active in year 2, year-2 commission is €4,500 and the two-year total reaches €15,000. Revenue share is a bet on retention and on the deduction clauses holding still.
Hybrid version: €75 CPA plus 15% revenue share gives €7,500 upfront, €5,250 in year 1 share and €1,350 in year 2, for €14,100 over two years, with half the cash up front.
Which to choose
- CPA fits new or unproven traffic, sources where player quality varies, and affiliates who need cash flow. Expect qualifying conditions and quality reviews.
- Revenue share fits sites with loyal, high-intent traffic, and businesses that want a recurring income stream.
- Hybrid fits when both sides want to share risk, or when an operator caps CPA budgets.
Before signing, read the definitions of net revenue and of a qualifying player, the carryover clause, any activity thresholds that cut the rate, and whether the operator can change terms by posting an update. Super Partners’ terms, for example, say continued participation after an updated version is posted counts as agreement. For how the wider channel works, see our iGaming affiliate marketing briefing, and for programme comparisons see iGaming affiliate programmes.
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