Case Studies

[Case Study] 637K Conversions: How a SEA iGaming Campaign Scaled with Low CPA

PropellerAds - Southeast Asia campaign case study showing 637K conversions, $222K revenue, and a scalable low-CPA strategy

The first quarter (Q1) of 2026 turned into a strong scaling window for a Southeast Asia iGaming campaign that focused on one simple idea: volume first, efficiency second.

Instead of chasing quick wins, the team built a system that could absorb large volumes of traffic while staying within strict CPA limits (and it paid off).

Over the quarter, the campaign reached considerable heights:

Impressions
1.89B
+1.6B
Conversions
637K
+399K
Revenue
$222K
+$163K

Setup

The setup was intentionally kept simple so that there was no over-engineering nor unnecessary complexity.

Vertical
iGaming
Formats
Popunder, IPP (In-Page Push), Interactive Ads
Buying model
CPA with KPI on cost per deposit
Period
1 January 2026 – 31 March 2026
Target region
Southeast Asia

Instead of pushing a single well-known product, the team worked with several lesser-known iGaming brands. This approach provided greater flexibility in testing and allowed them to maintain a steady flow of traffic without depending on a single offer.

PropellerAds - World Cup 2026 traffic forecast for media buyers across key verticals and GEOs

Strategy

The strategy followed a very practical logic: build volume fast, then shape performance around it.

Multi-brand rotation:
Rather than betting on one “perfect” offer, the team rotated multiple brands at the same time. This made testing faster, reduced risk, and helped keep traffic stable even when individual creatives or funnels started to fatigue.

PropellerAds - AI creative fatigue in advertising, showing how too many similar variations can weaken performance and user attention

Pre-landing + PWA (Progressive Web App) flow:
At the same time, the funnel itself did most of the heavy lifting. Instead of sending users directly to the product, the traffic first went through a gamified pre-landing. This strategy allowed users to warm up and made the transition to installation feel like a natural next step. 

1
Pre-landing
User lands on a gamified page
2
Engagement
Warms up before installation
3
PWA Install
Installs the app directly
4
Product
Moves into the main platform
5
Conversion
Completes first deposit

Web-focused traffic:
From there on, users first moved from prelander to PWA install and then into the product itself. This user journey included no unnecessary steps, but a smooth path designed to convert at scale.

propellerads-cpa-goal-2026

Optimization

The campaign started with relatively low bids to collect data and understand traffic behavior. Once patterns became clear, the team gradually increased bids only on segments that proved their value.

Instead of trying to optimize everything at once, they focused on what actually mattered: keeping CPA within KPI while improving post-install performance.

Traffic quality was refined through whitelist strategies and close collaboration with managers, while install costs were pushed down to around $0.25. At the same time, the team didn’t stop at installs…They continuously tracked user behavior, especially in relation to FTDs (first-time deposits).


Results

The campaign achieved full KPI compliance and strong scalability:

BUDGET
$372K
TOTAL REVENUE
$222K
INSTALLS
720K
CPI
$0.25

By the end of the period, the campaign wasn’t just profitable but was stable and scalable. Most importantly, it fully met the advertiser’s KPI and proved strong enough to be scaled further into new regions.

PropellerAds - traffic source conversion explained through context fit, attention, and user state across search, social, push, and pop

What This Case Actually Shows (& Why It Matters for World Cup Traffic)

What makes this campaign peculiar isn’t just the numbers (although 637K conversions definitely don’t hurt!). What really matters is how those results were achieved.

Interestingly enough, the logic behind this setup is very similar to what we expect to work during the World Cup traffic rush.

1
Prepare Early
Campaigns perform better when they are ready before traffic peaks begin.
2
Think Long-Term
Delayed FTDs from previously acquired users help reduce deposit costs over time.
3
Don’t Ignore SEA
Southeast Asia delivered lower competition, cheaper traffic, and strong engagement.
4
Simple Funnels Still Work
Clean flows, strong timing, and solid optimization still scale extremely well.

As already mentioned before, success during major events isn’t achieved only when you react faster than everyone else. It comes when you prepare early and build campaigns that can handle traffic waves without losing efficiency.

propellerads-igaming-case-97k-installs

Another advantage of this approach is that it allows campaigns to scale more sustainably over time. As previously registered users continue converting into first-time deposits (FTDs), the effective cost per deposit gradually decreases – making it easier to increase baseline install rates later without hurting overall performance.

It also proves another important point: Tier-1 markets aren’t always the best opportunity. Southeast Asia delivered a strong mix of lower competition, cheaper traffic, and highly engaged users (while many advertisers were busy fighting over the same expensive auctions elsewhere).

Most importantly, this case shows how important the funnel itself was for scaling. Instead of sending users directly to the product, the team used a gamified pre-landing and a smooth PWA flow to warm users up before installation.

This helped reduce friction, improve install quality, and scale traffic more efficiently.

And finally, this case is a good reminder that simple funnels still work. Even with all the hype around new traffic sources and AI-driven setups, a clean flow, good timing, and solid optimization can still scale extremely well when executed properly.

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