Allan Stone, CEO & Co-Founder of Intelitics, believes the sports betting industry can no longer afford to judge affiliate performance by raw FTD volume and low CPA alone. As acquisition costs rise and competition intensifies, he argues that sustainable growth now depends on identifying, rewarding, and scaling high-value players rather than chasing cheap volume.
In this CasinoRank interview, Stone explains why value-based bidding is reshaping affiliate strategy, how real-time data alignment changes the economics of player acquisition, and what operators can learn from campaigns that delivered stronger deposits with significantly less traffic.
For years, operators have focused heavily on FTD volume and low CPA. Why is that model no longer sustainable?
Allan Stone: For a long time, operators measured success by raw FTD numbers and acquisition cost efficiency. But in today’s environment, that approach creates what I’d call “hollow growth.” You may acquire volume at a low CPA, but many of those players are bonus hunters or one-time depositors who churn quickly.
In a crowded market, particularly for new entrants, rising acquisition costs are making “any user” bidding increasingly unsustainable over the past year. The focus must shift from volume to value.
You recently supported a challenger brand that reached $100m in deposits. What made their strategy different?
Allan Stone: They committed fully to value-based bidding from day one. Instead of chasing volume, they spent $6m exclusively on high-value acquisition, and that drove $100m in total deposits.
The breakthrough wasn’t about finding more players. It was about identifying better players and bidding accordingly. Using the Intelitics platform, the operator aligned internal data with affiliate partners in real time, allowing them to track performance beyond installs and initial deposits — reflecting trends of evolving affiliate partnerships towards prioritizing deeper performance tracking and smarter collaboration.
What were the key operational shifts that enabled that outcome?
Allan Stone: Three critical changes:
- Granular performance tracking – We moved beyond installs and FTDs to track downstream events like recurring deposits, turnover, and lifetime value.
- Quality-based commission structures – Affiliates were rewarded for delivering high-value players. This allowed them to bid more aggressively on premium inventory because compensation aligned with actual player worth.
- Real-time optimisation – With a unified data view, the operator could immediately identify which campaigns were driving high-value deposits and double down, rather than waiting for end-of-month reporting.
You often describe volume bidding as a “leaky bucket.” What do you mean by that?
Allan Stone: When you optimize for registrations at $10 CPA, the system finds users who are easy to convert. But ease of conversion doesn’t equal long-term value.
That’s how you end up with databases full of inactive users. On paper, marketing looks efficient. But CRM teams struggle to monetise the player base.
Value bidding changes the feedback loop. By feeding downstream signals, like a $500 deposit back into the attribution engine, you train your partners and algorithms to recognise high-value intent patterns.
How does value bidding actually work in practice?
Allan Stone: Most platforms today use machine learning. If you optimize for low-value sign-ups, the system finds more of them.
But if you optimize for high-value benchmarks, say $500 or $1,000 depositors, the algorithm builds behavioural profiles around those signals.
That also changes bidding logic. In a volume model, you might cap bids at $20 per lead. In a value model, you might pay $100 if data shows a 50% probability of that lead becoming a $1,000 depositor.
That’s how you outbid competitors, not with deeper pockets, but with better data visibility and faster insights.
Can you share measurable outcomes from this case study?
Allan Stone: Absolutely. The results were clear:
- 6x efficiency – Every $1 returned $16.60 in deposits
- 73% reduction in raw traffic volume, yet
- 4.7x increase in net deposits
- 455% increase in click-to-FTD conversion
- Average deposit per qualified depositor rose from $1,581 to $4,388, a 177% increase in player value
It proved that precise & lower-volume strategies outperform mass acquisition.
What’s the broader takeaway for operators?
Allan Stone: Modern operators face a simple choice: continue bidding for clicks and hope for monetisation, or bid for value and build predictable growth.
In today’s sports betting landscape, where market dynamics are shifting, transparency isn’t optional. It’s an advantage.
The brands that win aren’t just those spending the most, they’re the ones with the clearest view of their data.
With a background in digital media and a keen eye for emerging technologies, Ronaldo bridges the gap between players and platforms through clear, insightful reporting to the iGaming industry.
