Case Studies

[Case Study] 32.5K Registrations & 5.3K FTDs: How a Fixed CPM Setup Scaled in UA

PropellerAds - Ukraine iGaming case study on scaling a fixed CPM setup before World Cup 2026.

Between December 1st, 2025, and April 30th, 2026, a large-scale iGaming campaign in Ukraine focused on one simple goal: stable and predictable scaling without sacrificing performance. 

Instead of relying on aggressive short-term pushes, a setup designed for long-term efficiency, as well as steady traffic growth over time, was built.

Over the campaign period, the setup delivered strong results across key performance metrics:

Impressions
135M+
Total impressions generated
Registrations
32.5K+
Total registrations generated
$
First-Time Deposits
5.3K+
FTDs generated during the campaign

Setup & Strategy

The campaign operated in the iGaming vertical using mobile Pop traffic under a fixed CPM buying model. Instead of promoting a single product, the advertiser rotated several offers simultaneously, allowing for more flexible optimization and better adaptation to different traffic segments.

Traffic was directed entirely to web flows, with all funnels built around lightweight registration-focused pre-landers.

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

As for the strategy, it was about building a stable acquisition system that could maintain performance over time. To avoid creative fatigue and banner blindness, the advertiser continuously rotated multiple pre-landing pages across different traffic segments.

Funnels used classic CTA-driven pre-landers (step 2 of the user flow) and homepage-style flows with integrated registration forms directly on the page (step 3 of the user flow).

1
Pre-landing
User lands on a pre-landing page
2
Offer & CTA
Views the offer and call-to-action
3
Registration
Completes registration directly on-page
4
Product
Moves into the platform

Optimization & Results 

Once enough data was collected, the focus shifted from scaling volume to improving efficiency inside the existing traffic flow. Rather than increasing bids aggressively across all segments, the campaign was optimized more selectively.

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Higher-performing traffic zones received more volume, while weaker combinations were filtered out or adjusted through pre-landing changes and targeting refinements.

A lot of attention also went into post-registration behavior and not just registrations themselves. The team closely monitored how users moved further down the funnel, especially when it came to deposit activity and re-engagement performance over time (with re-engagement deposit volume reaching an impressive number of 40,712).

This helped maintain stable KPIs throughout the campaign while still keeping scaling sustainable.

Performance remained consistent across the entire period:

Registration Cost
$15
Average cost per registration throughout the campaign
Reg-to-Deposit CR
17%
Conversion rate from registration to first-time deposit
FTD Cost
$90
Average first-time deposit acquisition cost
Re-engagement Deposit
$12
Average re-engagement deposit price over time

The campaign maintained stable performance throughout the entire four-month period while continuing to scale traffic volumes across Ukraine.

4-Month Campaign Performance (UA)
Total Budget
$489.7K
Total spend during the campaign period
Registrations
32.5K
Total registrations generated
FTDs
5.3K
First-time deposits generated
Re-engagement Deposits
40.7K
Returning users who converted later
propellerads-igaming-case-97k-installs

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

Olexandr Shovkun, Senior Team Leader of the Accounting Team:

This case highlights something that gets overlooked when everyone is chasing quick wins — stability is a strategy. 32.5K registrations and 40K+ re-engagement deposits don’t happen by accident. They come from a system built to last. For World Cup campaigns in competitive GEOs like Ukraine, my recommendation is simple: don’t overbid, don’t overcomplicate. Build the funnel right, rotate consistently, and let the re-engagement volume do the work for you.

What makes this setup interesting is that it didn’t try to “hack” scaling with aggressive pushes or random volume spikes. The whole campaign was built around stability – and honestly, during competitive periods, that usually works much better in the long run.

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A big part of the performance came from smart segmentation, constant funnel rotation, and understanding that not all value comes instantly. Quite a lot of deposits came later from users who had already entered the funnel before, which gradually improved the overall economics and made scaling feel much less aggressive and risky.

It’s also a pretty good reminder that simple web funnels still work. Even now, when everyone is obsessed with AI creatives, complex automations, and “next-gen” traffic strategies, clean setups with good targeting and consistent optimization still perform extremely well.

Key Takeaways
1
Stable Scaling Wins
Consistent long-term scaling often outperforms aggressive short-term pushes.
2
Rotate Pre-landers
Continuous funnel rotation helps reduce creative fatigue over time.
3
Segmentation Matters
Traffic segmentation remained one of the strongest performance drivers.
4
Simple Funnels Still Work
Clean web flows can still deliver strong scalable results.
5
Re-engagement Matters
Returning users played a major role in long-term profitability.

All in all, that’s probably why this approach matters so much during events like the World Cup. Once traffic gets expensive and everybody starts fighting for the same audience, structured campaigns usually outperform chaotic scaling attempts.

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