What is Revenue Share? Complete Guide for Casino Affiliates

Revenue share (rev share) is the commission model where you earn a percentage of the Net Gaming Revenue (NGR) your referred players generate — forever. Unlike CPA (one-time payment per player), rev share creates recurring income. But it's more nuanced than "promote casino, get 40%."

How Revenue Share Works

The Basic Formula

Your commission = NGR × rev share percentage

NGR (Net Gaming Revenue) = Player deposits - Player withdrawals - Bonuses paid

Example

You refer 10 players in January. They collectively:

• Deposit: £10,000
• Withdraw: £7,000
• Receive bonuses: £500

NGR = £10,000 - £7,000 - £500 = £2,500

At 40% rev share, you earn: £1,000

Key Point: It's Net, Not Gross

If a player deposits £1,000 and withdraws £1,200 (wins £200), the operator lost money. Your NGR for that player is -£200. Yes, negative revenue share exists. One whale on a hot streak can wipe out your month.

NGR vs GGR (Gross Gaming Revenue)

Some operators calculate commissions on GGR instead of NGR:

GGR = Player losses before bonuses
NGR = Player losses after bonuses

GGR-based deals pay slightly lower percentages (35% GGR ≈ 40% NGR) but are more stable because bonus costs don't fluctuate as much.

Which is Better?

NGR deals: Standard in most affiliate programs. More volatile month-to-month.
GGR deals: Rarer, but smoother earnings if the operator runs heavy bonus campaigns.

Always clarify with your AM which metric is used.

Standard Rev Share Tiers

Most programs use tiered structures — the more NGR you generate, the higher your percentage.

Typical Tiers (Example)

Monthly NGR	Rev Share %
£0 - £5,000	25%
£5,001 - £15,000	35%
£15,001 - £50,000	40%
£50,000+	45%

Lifetime Tiers vs Monthly Tiers

• Monthly tiers: Your percentage adjusts each month based on that month's NGR. Drop below £5K NGR and you're back to 25%.
• Lifetime tiers: Once you hit a tier (e.g., £100K total NGR), you stay at that percentage forever.

Lifetime tiers reward early grinders. Monthly tiers punish seasonality.

Rev Share vs CPA: When to Choose Each

Rev Share Pros

• Recurring income: Earn from players for years
• Scales with operator success: If the operator retains players well, your income compounds
• Better for high-value traffic: VIP players = monthly earnings
• No player cap: Unlimited upside

Rev Share Cons

• Negative carry risk: One big winner can cost you money
• Slow ramp: Takes 3-6 months to build meaningful income
• Operator dependency: If the operator's retention is bad, earnings tank
• Payment delays: Usually paid 30-60 days after month-end (operator needs to confirm withdrawals)

CPA Pros

• Immediate cash: Get paid £50-£300 per first-time depositor within 30 days
• Predictable: Convert 100 FTDs = guaranteed £X
• No negative months: You can't lose money
• Good for scaling paid traffic: Know your CPA, optimize to it

CPA Cons

• One-and-done: Player is worth £150 to you once, but £10K+ lifetime to the operator
• Lower long-term value: Rev share on 100 FTDs could earn £50K+ over 2 years; CPA might pay £15K once
• Volume caps: Many CPA deals cap at 50-200 FTDs/month

When to Choose Rev Share

• Organic traffic (SEO, content sites) → players stick around longer
• High-value GEOs (UK, Nordics, Germany) → higher player LTV
• Established site → you can wait 6 months for earnings to mature

When to Choose CPA

• Paid traffic campaigns → need to know ROI quickly
• Low-value GEOs → players churn fast, take the upfront cash
• New affiliates → CPA gives faster feedback on what converts

Hybrid Deals (CPA + Rev Share)

Many programs offer hybrid structures:

Example: £100 CPA + 25% rev share

You get:

• £100 upfront when the player deposits
• 25% of their NGR every month after

This is the sweet spot for most affiliates — upfront cash to reinvest in traffic + long-tail income.

Negotiating Hybrids

If a program offers "40% rev share OR £150 CPA", you can often negotiate:

• 30% rev share + £75 CPA
• 35% rev share + £50 CPA

AMs have flexibility. Just ask.

Carryover: The Silent Commission Killer

Carryover = negative NGR from one month carries forward to the next.

Example:

• January: -£500 NGR (players won big)
• February: £2,000 NGR

With carryover, your February commission is calculated on:
£2,000 - £500 = £1,500 NGR (not £2,000)

At 40%, you earn £600 instead of £800.

No-Carryover Deals

Some programs reset each month. January's -£500 doesn't affect February. These are rarer but hugely valuable — ask your AM.

Sub-Affiliate Structures

Some programs let you recruit other affiliates and earn a cut of their commissions:

Example: 5% sub-affiliate commission

Your recruit generates £10,000 NGR and earns 35% (£3,500).
You earn 5% of their £3,500 = £175.

Sub-affiliate deals compound if you build a network, but most affiliates focus on their own traffic first.

Payment Terms

When You Get Paid

Typical payment schedule:

• NGR calculated: End of month (e.g., Jan 31)
• Operator confirms withdrawals: 7-14 days (some players withdraw in early Feb, affecting Jan NGR)
• Payment issued: 30-60 days after month-end (you get January earnings in late Feb or early March)

Minimum Payment Thresholds

Most programs have minimums:

• £50 - £100: Common
• £500+: High-roller programs

If you don't hit the threshold, your earnings roll over to the next month.

Payment Methods

• Bank transfer: Standard (EU operators)
• Skrill/Neteller: Faster, but 1-2% fees
• Cryptocurrency: Offered by some offshore programs

Red Flags in Rev Share Deals

1. No Access to Player Stats

If the operator won't show you individual player NGR, you're flying blind. Insist on transparency.

2. "Admin Fees" Deducted from NGR

Some programs deduct "processing fees" or "platform costs" before calculating your share. This reduces your effective commission. Example:

Advertised: 40% rev share
Reality: 40% of (NGR - 10% admin fee) = 36% effective

Read the T&Cs.

3. Payment Delays Beyond 60 Days

If an operator is consistently late, it's a cash flow issue. Start diversifying traffic.

4. "Negative Carry Until Profitable"

Some programs accumulate negative months indefinitely until you're net positive. Avoid.

5. Retroactive Commission Changes

If your T&Cs allow the operator to change rev share percentages without notice, don't commit serious traffic.

How to Track Rev Share Performance

Metrics to Monitor Monthly

1. NGR per FTD: How much is each new player worth?

   • Good: £50+ per month
   • Weak: <£20 per month

2. Churn rate: What % of last month's active players are still depositing?

   • Good: 60%+ retention
   • Weak: <40%

3. Average player lifespan: How many months does a player stay active?

   • Good: 12+ months
   • Weak: <4 months

4. Negative months: How often do players win more than they lose?

   • Acceptable: 1-2 months per year
   • Red flag: 4+ months per year

Tools

Most affiliate dashboards show:

• Total NGR by month
• Player-by-player breakdowns
• Deposits/withdrawals/bonuses

If your program doesn't provide this, request it. Reputable operators are transparent.

Tax Implications

Rev share is business income, not gambling winnings. In most jurisdictions:

• UK: Pay income tax + National Insurance (20-45% depending on bracket)
• EU: VAT may apply (reverse charge mechanism if B2B)
• US: Self-employment tax (15.3%) + income tax

Consult a tax advisor. Many affiliates operate as limited companies to optimize.

Case Study: £100K Annual Rev Share Breakdown

Affiliate promoting UK-licensed casinos, 40% rev share deal:

Metric	Value
Total FTDs (year)	1,200
Average NGR per FTD (lifetime)	£350
Total NGR generated	£420,000
Commission (40%)	£168,000
Minus carryover losses	-£8,000
Minus sub-threshold months	-£2,000
Net annual earnings	£158,000

Monthly average: £13,166

This assumes:

• 60% player retention
• 12-month average player lifespan
• 2 negative months (carryover)

Negotiating Better Rev Share Deals

What AMs Care About

1. Traffic quality: Low-churn players = higher rev share offers
2. Volume: 500+ FTDs/month → you can demand 45-50%
3. Exclusivity: Promote only their brand → extra 5-10%
4. Longevity: Commit to 12 months → lock in top-tier rates

What to Ask For

• No carryover: Resets each month
• Lifetime tiers: Don't drop back down
• Hybrid option: CPA + rev share
• Sub-affiliate cut: 5-10% if you recruit
• Transparent reporting: Player-level NGR access

When to Walk Away

• Rev share <25% (unless huge brand)
• No player stats access
• Payment delays >60 days consistently
• Retroactive T&C changes without notice

Bottom Line

Rev share is the endgame for serious affiliates. CPA pays bills in year one; rev share builds wealth in years two through five. The key:

1. Promote operators with strong retention (check player reviews on AskGamblers/Trustpilot)
2. Negotiate no-carryover deals where possible
3. Track NGR per FTD monthly — if it's dropping, investigate why
4. Start with hybrids (CPA + rev share) until you're confident in traffic quality

Brandbing's deal directory shows which operators offer rev share vs CPA vs hybrid. Filter by commission type and compare player retention stats before committing traffic.

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Further Reading

• CPA vs Rev Share Comparison Tool (Brandbing)
• Affiliate Program T&Cs Checklist (coming soon)
• NGR Tracking Spreadsheet Template (coming soon)