The Mathematics of Bonuses: How Promotions Affect Operator Margin

Free spins, free bets, cashback — for the player, these are appealing perks; for the operator, they are a significant cost. Generous promotions can quickly boost traffic, but they also erode margin and create the risk of operating at a loss. The key lies in precise mathematics: how to calculate a bonus so that the player stays engaged, while the business remains profitable.

What is a bonus for the player — and for the operator?
For the player, a bonus is “extra” money to try a game without risk. For the operator, it is an investment in attracting or retaining a user, which should pay off through bets.

Bonuses are not just gifts. They are a managed financial tool, whose effect depends on multiple variables — from wagering requirements to the RTP of the game where the free spins are applied.

What determines the cost of a bonus?
Suppose an operator gives 100 free spins on a slot with a 96% RTP, with a €0.10 bet. At first glance, it seems like a €10 giveaway, but:

  • Expected return for the player: 100 × €0.10 × 96% = €9.60
  • Expected “loss” for the operator: €10 − €9.60 = €0.40

So, theoretically, the operator “loses” €0.40 per bonus. In practice, many players do not use the full bonus, fail to meet wagering requirements, or lose their winnings afterward.

How bonuses affect margin
Margin in gambling is the percentage of profit from the total volume of bets.

When an operator launches an aggressive bonus campaign, it can:

  • Increase the number of bets (through higher traffic and activity)
  • Simultaneously reduce profitability (due to the “free” money)

If bonus terms are calculated incorrectly, the operator can run at a loss, especially if players engage in low-risk strategies like even-chance betting or bonus hunting.

Common mistakes in bonus management

  1. Too low a wagering requirement
    A 10x playthrough on cashback or free bets is a gift for experienced players. Such a bonus can be easily “cashed out” without giving profit to the operator.
  2. Inappropriate games for the bonus
    Free spins on a slot with 97% RTP and low volatility. Players receive stable returns, while the operator suffers a loss.
  3. No GEO or profile restrictions
    Bonuses may attract the wrong users — for example, bonus hunters, multi-accounters, or arbitrage players.

How to measure bonus program effectiveness
Key metrics:

  • EV of the bonus (Expected Value): shows the average cost of one bonus to the operator.
  • ROI of the bonus campaign: how much each invested euro brings back. If ROI < 1, the bonus is ineffective.
  • LTV of the acquired player: how quickly the bonus pays off. Sometimes a “negative” bonus can be profitable if the player stays long-term.

How operators manage bonuses wisely

  • Flexible segmentation: new players receive registration bonuses, VIPs get cashback, reactivated users get personalized free spins.
  • Restrictions and protection: geo-filters, restrictions on high-risk games, monitoring for abuse patterns.
  • A/B testing and analytics: what works better — 50 free spins or 100% deposit bonus? Only data can give the answer.

Conclusion: why bonus mathematics is key to success
So how do bonuses affect margin? Directly. Each bonus is a bet on the future. It can either increase player LTV and bring profit, or erode margin and hit financial results.

For operators, it is crucial not just to distribute bonuses, but to calculate each promotion precisely. Otherwise, the business risks turning into charity.

For players, a bonus is an opportunity — but one with rules that must be understood. Often, behind what seems like a free perk, there are real wagering conditions.

Why Europe Still Hasn’t Let Go of SMS – and How iGaming Can Take Advantage of It

Have messengers won? At first glance – yes. But in Europe – not quite.

While everyone is buzzing about Telegram channels, WhatsApp broadcasts, and push notifications, in good old Europe, SMS is still going strong.
Especially where the stakes are high – quite literally.

And it’s not just about habit or nostalgia. SMS has its own rational niche. If you work in iGaming, ignoring it means missing out on a proven tool for retention and engagement.

Let’s break down why SMS still “rules” in Europe – and how it can be monetized in the gaming industry.


Legal Significance and Reliability

First of all, in Europe, SMS isn’t “just a message.” For banks, healthcare, and government services, it’s an official communication channel.

A court, bank, or public agency won’t text you on Telegram with cute stickers.
They’ll send you an SMS – because it’s a channel legally recognized as proof of delivery and receipt of information.

This matters in iGaming too.
Players perceive SMS as a more serious and trustworthy channel than push or messengers.
If a casino sends you an SMS – it means business: a withdrawal, a transaction confirmation, a personal bonus.
That creates a high level of trust.


Works Even Without Internet

Not all users have stable internet access at all times. Yes, we live in the age of Wi-Fi and 5G – but there are still regions where cellular signal is the best you can get.

SMS works wherever there’s network coverage.

This is especially true for the 35+ age group – which often happens to be more financially stable and more loyal to online casinos.
They don’t want to download new apps or navigate unfamiliar interfaces – SMS is simple and familiar.


Habit and “Communication Language”

For decades, people have received codes, confirmations, and important notifications via SMS.
Trying to retrain them means creating friction in the user journey.

It’s smarter to speak to your audience in a language they already understand.

Especially in critical communication moments – transactions, withdrawals, or logins.


Trust and Security

Messengers are full of fakes, phishing, cloned channels, and bots.
SMS has none of that.

Messages come from a short code or branded sender, and users almost never doubt who it’s from.

For iGaming – where money is involved – this is critical.
If a person doesn’t trust the channel, they won’t click the link, enter a code, or make a deposit.
SMS gives a feeling of safety.


Open Rate Others Can Only Dream Of

The “98% open rate” myth? It’s not a myth.

Studies show that most SMS messages are read within three minutes of being received.

Push notifications, messengers, and emails can’t compete with that.
Especially when it comes to urgent offers.


Where Is SMS Still Big in Europe?

  • France – especially for banks and public services.
  • Germany – anything related to security and transactions is often delivered via SMS.
  • Poland and Romania – SMS is still a key channel for marketing and mass communication, especially in regions with uneven internet access.

So if your market is Central or Eastern Europe, it’s definitely too early to write SMS off.


How Can iGaming Use SMS?

Here are specific use cases where SMS is a winner:

  • Two-Factor Authentication (2FA): Builds trust – “Your withdrawal is confirmed via SMS code.”
  • Bonuses and Promos: Short and direct – “VIP bonus available. Activate within 1 hour.”
  • Trigger Campaigns: Engagement nudges – “You’ve been away for 3 days. Reminder: 20 free spins are waiting.”
  • Urgent Offers: Game-time rush – “Only until midnight – x3 cashback.”
  • Personalized Greetings: Builds loyalty – “Happy Birthday, Alex! We’ve added a gift to your account.”
  • Deep-links: Takes users directly to a specific game or landing page – no extra steps.

SMS in Europe is alive and well.

It’s not a relic from the era of flip phones – it’s a reliable, legally recognized, and secure communication channel that, in many cases, delivers what messengers can’t: trust and immediate action.

For iGaming, SMS isn’t an alternative to messengers – it’s a powerful addition to your marketing ecosystem.

So if someone tells you “SMS is dead,” feel free to reply:

“Not in Europe. Here, it still rules – and drives revenue.”

Google Discover: How iGaming Affiliates Can Get Free Traffic

The world of search is changing: today, users can see your website without even typing a query into Google. This is all thanks to Google Discover — a personalized feed that shows articles, videos, and news based on user interests. For affiliates, this opens up a unique opportunity to gain free, targeted traffic and strengthen their brand presence.

What is Google Discover?

Google Discover is a personalized recommendation feed visible to every Google user on their smartphone — in the Google app, Chrome, and other services. Unlike search, Discover suggests content on its own, tailoring it to each person’s interests. The feed displays not only news but also evergreen content, which remains relevant for a long time.

How Does Google Decide What to Show?

Discover works similarly to social media by analyzing user behavior and interests. It takes into account:

  • Search history (what users have searched for previously)
  • Activity on YouTube, Google Maps, and Chrome
  • User location and local interests
  • Personal interest profile built from overall Google activity

Why Does This Matter for iGaming Affiliates?

In the iGaming industry, traffic is fuel. The higher the cost per click, the fiercer the competition for every second of user attention. Discover helps you go beyond paid traffic and reach an audience that hasn’t searched for your product yet but is potentially ready for it.

Here’s why affiliates should pay attention to Google Discover:

  • Free traffic that comes to you. Once your site appears in Discover, it can get thousands of impressions and clicks without any ad spend. This is especially valuable for affiliate projects, where every click impacts revenue. Traffic peaks usually last 3–5 days, but during this time, you can capture the attention of tens of thousands of users.
  • Attracting a new audience. Discover exposes your content to people who might not have found you otherwise. This is your chance to convert “cold” traffic into engaged leads.
  • Brand recognition. The more often you appear in the recommendation feed, the higher the chance users will remember you. In iGaming, trust in the source directly affects conversions and user engagement.
  • Revenue growth. Discover brings in an audience already interested in the topic, which can increase leads, ad views, and ultimately affiliate commissions.

How to Get Featured in Google Discover

Google decides what to show, but certain factors increase your chances:

Technical Requirements:

  • Indexed pages (accessible to Google)
  • Responsive design (works well on any device)
  • Fast loading speed (optimized images, minimized code)
  • Minimal intrusive ads and pop-ups
  • High-quality images (at least 1200 px wide) with the meta tag max-image-preview:large

Content Requirements:

  • Unique, useful, and accurate content (no copy-paste)
  • Demonstrated expertise (E-E-A-T: Experience, Expertise, Authoritativeness, Trustworthiness)
  • Topics relevant to your target audience (use Google Trends, Exploding Topics)
  • Content updates (refresh articles with new data)
  • Clear, precise, and non-clickbait headlines

Content Restrictions:
Google strictly monitors Discover content. Prohibited materials include content that:

  • Incites hate
  • Contains fake news or misinformation
  • Offends people
  • Covers 18+ topics
  • Promotes violence, cruelty, or unhealthy lifestyles

How to Know If Your Site Appeared in Discover

Google Search Console provides a special Discover report (available when your site has enough impressions). It shows which content appeared in the feed, along with impressions and clicks.

Why Discover Is Especially Important for Affiliates Now

Many traditional traffic sources are becoming more expensive and less effective. Discover allows you to reach audiences through new channels without increasing ad spend. Moreover, Google’s algorithms actively promote quality content, letting small sites compete with large players.

Conclusion

Google Discover is not an alternative to SEO, but a powerful complement. It is an additional channel for attracting users, leveraging trust and audience interests.

Want to know which topics are trending and how to get into Google Discover? Contact the affiliate managers at Samurai Partners — we’ll guide you on creating content that drives traffic and boosts your revenue.

New Google Algorithm: What Has Changed for iGaming in 2025?

In 2025, Google continues to refine its search algorithms, with a special focus on content quality, user experience, and compliance with local laws. These changes may have a significant impact on the visibility of websites in search results, particularly for iGaming sites.

Do you have many SEO offers for iGaming sources? Then it’s worth taking a close look at the upcoming challenges and changes that your key partners will face in the near future. Let’s explore what has changed and how it might affect your business.

Stronger Fight Against Low-Quality Content

Google has placed even greater emphasis on filtering out websites with non-original or manipulative content. The new algorithm, tentatively called the “Core Update 2025,” actively lowers the ranking of pages that:

  • Use AI-generated text without editing and value for the user.
  • Are overloaded with keywords like “best casino” or “win online.”
  • Contain duplicated content from other sources.

What does this mean for iGaming? Sites offering casino reviews, game strategies, or bonus offers must now provide unique materials. For instance, instead of generic descriptions like “sign up and get a bonus,” Google now favors in-depth analytical articles on slot machine odds or the history of gambling.

Increased Focus on User Experience (Page Experience)

The algorithm update includes strengthening the role of Core Web Vitals metrics (page speed, interface stability, interactivity). This is particularly important for iGaming sites, as users expect fast access to games and easy navigation.

  • Mobile Optimization. Sites that are not optimized for smartphones lose ranking. Given that over 70% of iGaming traffic comes from mobile devices, this is critical.
  • Advertising. The algorithm penalizes pages with excessive pop-ups or banners that obstruct user interaction with content.

Casino operators and affiliate sites need to revisit their designs, remove aggressive pop-ups, and speed up page loading. For example, if bonus ads used to fill the screen, now they should be integrated more subtly.

Localization and Legal Compliance

Previously, Google enhanced geotargeting and filters related to legislation. The algorithm now more strictly checks whether the content complies with the laws of the region where it appears. In countries where gambling is restricted or prohibited, iGaming sites may be completely removed from search results if they violate the rules.

Sites must clearly specify their target audience and licenses. For instance, a casino with a Maltese license should emphasize its legality where allowed, while avoiding promotion in prohibited jurisdictions. It’s also important to translate content into local languages and adapt it to cultural specifics.

Fight Against Spam and Manipulation

The new algorithm includes an updated “Spam Update” aimed at websites using “black hat” promotion methods:

  • Buying links from low-quality resources.
  • Creating PBN (Private Blog Network) sites to artificially increase ranking.
  • Using expired domains to inflate authority.

Many affiliate sites in iGaming traditionally relied on these techniques. Now they will need to find organic ways to promote themselves — such as through high-quality guest posts or partnerships with reputable platforms.

Rising Importance of E-E-A-T

The E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness) factor has become even more significant. Google wants users to trust the information on iGaming sites.

  • Experience and Expertise. Content authors must demonstrate knowledge in the field. For example, poker articles are best written by professional players.
  • Authoritativeness and Trustworthiness. Sites must provide license details, contact information, and real reviews.

Platforms need to publish content from experts, disclose information about themselves, and avoid anonymity. User reviews, verified with real data, also improve chances for high rankings.

How Should iGaming Sites Adapt?

  • Create high-quality content. Invest in unique articles, infographics, and research. For example, instead of “TOP-10 casinos,” provide a comparative analysis with figures and facts.
  • Optimize the technical side. Speed up your site, improve the mobile version, and remove excessive ads.
  • Check legal compliance. Make sure your content aligns with the laws of target regions.
  • Prove expertise. Involve specialists and showcase their qualifications.
  • Analyze competitors. Use tools like Ahrefs or SEMrush to understand what works for market leaders.

The new Google algorithm in 2025 presents the iGaming industry with a choice: either adapt to the strict quality and transparency requirements, or lose traffic. Success now depends not on manipulation but on real value for users and technical optimization. Those who can combine useful content, convenience, and legality will gain an advantage in search results.