PropellerAds published a new iGaming case study revealing how one partner scaled a campaign despite unstable tracking, shifting KPIs, and funnel inconsistencies, ultimately generating 97,674 installs, 21,134 registrations, and 12,701 deposits over three months.

Karlina Berzina, Senior Account Strategist: This partner has been with us for a long time, and our collaboration goes well beyond just sourcing traffic. We have formats that let us guide users across the entire funnel: from broad reach and initial brand discovery to repeat touch points and optimization toward deposits and retention. For iGaming, this matters more than anywhere else: sustainable growth simply isn’t possible without retaining users and increasing their LTV.

That’s why our focus has shifted to being a true performance partner, not just a traffic source – one that helps advertisers work with audience quality across the full user lifecycle. To support this, we also have dedicated specialists who focus specifically on growing partners in the iGaming segment.

Case overview

According to the case study, one of the biggest challenges was the unstable campaign environment. The partner faced inaccurate tracking, missing data, internal app and app store issues, and continuously changing KPIs throughout the campaign.

At launch, the campaign operated with the following KPI targets:

- Install — around $8

- Registration — $15–25

- Deposit (FTD) — $45–55

The primary objective was to maintain a stable funnel from install to deposit while keeping acquisition costs within target ranges.

Campaign Setup

Karlina: Rather than making changes too quickly, we allowed campaigns to stabilize, then continuously refined the setup by removing non-performing or less relevant traffic and focusing on segments that contributed to installs, registrations, and deposits.

Instead of relying on a single bidding model, the partner combined CPA Goal and SmartCPM. CPA Goal was used during the testing phase to identify converting zones faster, while SmartCPM was later applied for manual optimization and scaling.

The traffic strategy also expanded gradually. The campaign initially launched with Onclick traffic, while CPA Goal and SmartCPM were tested simultaneously. Once performance stabilized, Push and In-Page Push formats were added to increase reach and overall volume.

Optimization flow

As described in the PropellerAds case study, the partner followed a structured optimization framework to manage multiple KPIs and unstable tracking conditions.

Campaigns were initially left untouched for at least two days to allow the algorithm to stabilize and collect realistic cost data. During this period, the partner monitored performance across OS versions, devices, browsers, and traffic behavior to identify trends and determine which segments contributed to installs, registrations, and deposits.

Karlina: Rather than making changes too quickly, we allowed campaigns to stabilize, then continuously refined the setup by removing non-performing or less relevant traffic and focusing on segments that contributed to installs, registrations, and deposits.

Gradually eliminating non-converting zones

One of the core optimization methods involved splitting traffic into smaller segments — including zones, user behavior, and performance signals — to determine whether the traffic contributed to conversion goals.

Traffic segments that failed to generate results were excluded gradually to reduce inefficiencies and wasted spend.

Blacklist and whitelist rules

The partner also applied a structured filtering system:

Rule 1: No Signal — zones spending more than the equivalent cost of two deposits without generating installs, registrations, or deposits were immediately blacklisted.

Rule 2: Empty Promise — zones generating high registration volumes without meaningful follow-up actions were also blacklisted.

Rule 3: Proven Performer — zones consistently delivering efficient conversions were added to the whitelist.

The case study additionally highlighted the difference between blacklisting and whitelisting. Blacklisting was used as a fast response to underperforming traffic, while whitelisting required more time because traffic quality was evaluated based on completed deposits rather than installs or registrations alone.

Respecting the conversion window

Another important part of the strategy was respecting the conversion window and analyzing user behavior, including:

- how long users remained engaged;

- how many days after install or registration users converted.

For this campaign, the testing window aligned with a 30-day conversion period.

The optimization process itself consisted of two stages:

- Step 1: campaigns were left untouched for at least two days to allow the algorithm to stabilize and collect realistic cost data;

- Step 2: after stabilization, the partner analyzed the data, applied the No Signal rule, and continued with further optimization.

Gradual format scaling

PropellerAds also noted that the partner scaled formats gradually rather than expanding aggressively from the beginning.

The campaign started with Onclick traffic. After performance stabilized, Push and In-Page Push formats were added to broaden reach and increase volume.

Campaigns were also separated by bidding model to make testing and optimization more transparent.

The Main Takeaways

Main Takeaways

Over three months, the campaign generated:

- 97,674 installs

- 21,134 registrations

- 12,701 deposits

The partner also reduced install costs, doubled deposit conversions, and launched Push Notifications as an additional traffic source that is already showing promising early results.

According to the case study, the main takeaway is that stable iGaming scaling depends less on aggressive expansion and more on structured optimization, clear KPI management, and disciplined traffic filtering throughout the funnel.

(Results after the first test of In-page push)

Karlina: The success is in the simplicity. The offer follows a straightforward flow, supported by a mobile application available in official app stores. There’s no need to complicate the user journey. Traffic is directed straight to the app store download page, ensuring a seamless and frictionless experience for the user.

The PropellerAds case demonstrates how combining CPA Goal for testing with SmartCPM for optimization helped the partner turn an unstable setup into 97,674 installs and 12,701 deposits within three months.

Use the strategy and launch your campaign now!