{"id":17293,"date":"2026-11-12T11:12:00","date_gmt":"2026-11-12T11:12:00","guid":{"rendered":"https:\/\/cpvlab.pro\/blog\/?p=17293"},"modified":"2026-11-11T12:12:59","modified_gmt":"2026-11-11T12:12:59","slug":"mikhail-zhukov-adsterra-igaming-campaign-optimization","status":"publish","type":"post","link":"https:\/\/cpvlab.pro\/blog\/champions-of-performance-marketing\/mikhail-zhukov-adsterra-igaming-campaign-optimization\/","title":{"rendered":"Mikhail Zhukov (Adsterra) on iGaming Campaign Optimization: Budgets, Tracking and Scaling &#8211; Part 2"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>TL;DR:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Mikhail Zhukov recommends that beginners set daily, total and hourly limits and use a <strong>tracker<\/strong>, so the budget spreads across the whole day and account managers have real data to help with.<\/li>\n\n\n\n<li><strong>Do not blacklist a source too fast<\/strong>. First deposits (FTDs) can arrive 3 to 5 days after the click, and iGaming revenue can take more than 30 or even 90 days. Lower the bid first and wait.<\/li>\n\n\n\n<li>Use three lists: a <strong>whitelist <\/strong>for sources that work, a grey list for sources in their test period, and a blacklist for sources that only spend.<\/li>\n\n\n\n<li>A newcomer needs about 1,000 per GEO and at least 30 days to understand whether a source works. 90 days is the maximum.<\/li>\n\n\n\n<li>Watch FTDs, registration-to-deposit and deposit-to-deposit, and test at least 10 creatives per campaign to compare CTR. Unusual creatives can win.<\/li>\n\n\n\n<li>To scale, raise your payout or CPM, remove limits, and try other ad formats like pop ads, social bars and display. Avoid unlicensed offers, check the local rules and age limits first, and double check anything AI tells you.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">In <a href=\"https:\/\/cpvlab.pro\/blog\/champions-of-performance-marketing\/mikhail-zhukov-adsterra-igaming-affiliate-marketing\/\">Part 1<\/a>, Mikhail Zhukov, head of the CPM department at <a href=\"https:\/\/adsterra.com\">Adsterra<\/a>, explained why iGaming is different from other verticals, which GEOs look interesting, why creatives must be local, and how a beginner can pick a first offer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In Part 2 of this <a href=\"https:\/\/cpvone.com\/podcast\" target=\"_blank\" rel=\"noreferrer noopener\">Champions of Performance Marketing<\/a> episode, we get into the daily work of running a campaign. How to set it up, when to cut a source, how much budget you need, which metrics to watch, how to scale, and where AI and regulations fit in.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Let&#8217;s get into it.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Listen to the episode on our Spotify channel<\/strong><\/h3>\n\n\n\n<iframe data-testid=\"embed-iframe\" style=\"border-radius:12px\" src=\"https:\/\/open.spotify.com\/embed\/episode\/5PTV9awJALST7WuNaYDrqa\/video?utm_source=generator&#038;si=cae238ffd0884859\" width=\"624\" height=\"351\" frameBorder=\"0\" allowfullscreen=\"\" allow=\"autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture\" loading=\"lazy\"><\/iframe>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/youtu.be\/czN0daSweNY\" target=\"_blank\" rel=\"noreferrer noopener\">Or watch it on CPV channel on Youtube<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Q: What does a good iGaming campaign look like, and what mistakes do beginners make?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Mikhail Zhukov:<\/strong> Some beginners do not care about limits. They make the campaign unlimited, thinking &#8220;I need to receive all the traffic of the world, and I will think about it later&#8221;. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>If you are a beginner, you have to set limits:<\/strong> daily limits, total limits and hourly limits. In the first stage it helps a lot to save your budget and spread it evenly across the whole day, so that people from the first hour of the day to the last one all see your ad.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The second thing is tracking. <\/strong>It is really sad when people ignore trackers. It is sad for us, the account managers, because if we see that you have a tracker, it is really easy to help you. We have enough data to help you with optimization. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you come and say &#8220;I am not profitable&#8221;, we can see what happened on your side, in conversions and in volumes, and we can give tips, solutions and offers. Information is everything. Without it, all we can say is &#8220;this is the number of volumes&#8221;.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>With your data <\/strong>we can compare, count, share best practices and exclude sources that do not work. We can even exclude browsers and operating systems that do not work for your offer. Weekly or bi-weekly reports are fine, but it is much better when we can see the data live, during the day. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Our main goal is to help advertisers save budgets, increase budgets in line with results, and make your LTV longer and more profitable. <strong>Don&#8217;t ignore the tracking solutions. It&#8217;s really, really important.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Third, whitelists and blacklists. For beginners, it is easy to request a blacklist of sources that are not relevant for your vertical. We have more than 40K direct publishers with worldwide traffic, and not all of them are related to iGaming. Ask the support team and they will help you with devices and placements. If you have a tracker, you can build your own blacklist too, because you will see which placements and sites brought conversions and which are not profitable and pull your campaign down.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-0-1024x538.jpg?wsr\" alt=\"Mikhail Zhukov of Adsterra on why affiliates should not ignore tracking solutions in iGaming campaigns\" class=\"wp-image-17339\" srcset=\"https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-0-1024x538.jpg 1024w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-0-300x158.jpg 300w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-0-768x403.jpg 768w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-0.jpg 1200w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-0-70x37.jpg 70w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-0-850x446.jpg 850w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Last, <strong>creatives<\/strong>. It is a long story, we could talk about it for two or three hours. Adapt the creative to the country where you start, and translate it. If people there do not mostly speak English, use the local language. AI does a great job at this now. Ask your affiliate manager about bonuses and good offers for new players, because they have to be on the creative.<\/p>\n\n\n\n<figure class=\"wp-block-pullquote\" style=\"font-size:15px\"><blockquote><p><strong>Julia&#8217;s Take:<\/strong> Creatives are a whole topic on their own, and I agree we should do another episode about them. On tracking, the <a href=\"https:\/\/cpvlab.pro\/blog\/case-study\/profitable-campaigns-popcash\/\">custom whitelist method we shared in our PopCash case study<\/a> is one way to turn tracker data into a whitelist of placements. If you run Adsterra traffic with CPV Lab, the <a href=\"https:\/\/cpvlab.pro\/docs\/integrations\/adsterra-integration.html\">Adsterra integration guide<\/a> shows the setup.<\/p><\/blockquote><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Q: What mistakes do affiliates make with traffic filtering, like cutting or keeping sources?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Mikhail Zhukov:<\/strong> Sometimes they do not check or analyze the previous days of the campaign. For example, you see that a placement brings a lot of conversions but no FTDs, a first-time deposit. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So you exclude it, and it goes to the blacklist. Then after three, four or five days it starts bringing FTDs. Some people wait for their salary, and some remember the ad and come back to deposit. In that case the source is profitable, but you already excluded it and you will not receive traffic from it again.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you see conversions without deposits, <strong>don&#8217;t try to exclude it immediately. Try to reduce the payout, the bid. Make it lower.<\/strong> Wait a week or two at the minimum payout or bid and see how it works over a longer period. iGaming is an interesting vertical in terms of revenue, because it can take more than thirty days, even ninety days, to receive it. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Compared with e-commerce or VPN, it takes much longer. You can see the first FTDs on the second day, or even in the second minute, but it usually takes longer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So in working with placements you have to be patient and very attentive. Sometimes you lose budget, but sometimes you lose it just because you excluded a really good placement. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You are working with blacklists and whitelists all the time. If you see really good sources that bring a lot of conversions, make a whitelist and set a really high payout or a CPM bid higher than average, and take everything you can from those sources. If a source brings registrations, make the bid lower and wait a little. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If it only spends money and brings nothing, exclude it, because it affects your position, your budget and your revenue.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Julia:<\/strong> So there are three lists. The white list, the black list, and one in between.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Mikhail Zhukov:<\/strong> In between, we call it the grey list. It is a test period for sources. <strong>Big players do the same: they come with a huge budget and spend, for example, 20k or 50k to see the quality of the traffic and how it behaves. <\/strong>They check the funnel, from the prelander to the registration page. It takes literally 40 to 90 days. After that they recount the payments, the first deposits and the redeposits and make the optimization. They keep the campaign as it was, exclude the bad placements and make whitelists.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Q: What is a good budget to start with and at least see if a campaign can work?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Mikhail Zhukov:<\/strong> For newcomers and fresh people, it is $1,000 per GEO to understand how it works, because you have to spread it over thirty days. <strong>Thirty days minimum<\/strong>, because after two days, three days, even two weeks, we will not see results that tell you whether it works or not. This is the specific nature of the iGaming vertical.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We can discuss different types of sources, like SEO sources or <a href=\"https:\/\/cpvlab.pro\/blog\/category\/facebook\/\">Facebook <\/a>sources. But as a basic rule, the average time to understand whether a source is profitable is around thirty days, and ninety days is the maximum.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-1-1024x538.jpg?wsr\" alt=\"Mikhail Zhukov of Adsterra on why an iGaming campaign needs at least 30 days before you judge it\" class=\"wp-image-17336\" srcset=\"https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-1-1024x538.jpg 1024w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-1-300x158.jpg 300w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-1-768x403.jpg 768w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-1.jpg 1200w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-1-70x37.jpg 70w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-1-850x446.jpg 850w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Q: Which events and metrics should affiliates watch?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Mikhail Zhukov:<\/strong> <strong>FTDs, registration-to-deposit and deposit-to-deposit<\/strong>. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If the traffic from a placement is really good and you receive more and more deposits, the player is valuable, so keep that source close, because it works for you. If the numbers fall away, you can exclude it, or give it a second chance with a lower payout or CPM.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>For display formats, the main metric is CTR<\/strong>. Never set a campaign with only one creative. Use a minimum of ten creatives, so you can compare their CTR. You can find a really unusual solution. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Let&#8217;s say a dog dancing with fireworks and a bonus. The CTR can be amazing, because people love dogs, or they find it funny or just unusual. Common banners, very beautiful ones drawn by famous artists, may not be understood by people.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is a paradox, and we saw many cases like that. Some people draw something in Paint with the mouse, like &#8220;come to my site and buy this&#8221;, and people just click because they think &#8220;wow, I never saw this&#8221;. If you make something unusual, it may look stupid to you. But for people who are surfing the web, it is &#8220;wow, what is this?&#8221;<\/p>\n\n\n\n<figure class=\"wp-block-pullquote\" style=\"font-size:15px\"><blockquote><p><strong>Julia&#8217;s Take:<\/strong> Josh Littler told me on the podcast that the ugliest creatives are usually the most successful for him, and Mikhail says almost the same thing. You can read that conversation in <a href=\"https:\/\/cpvlab.pro\/blog\/champions-of-performance-marketing\/josh-littler-on-creatives-tracking-gaps-and-using-ai\/\">my interview with Josh Littler<\/a>. Ten creatives only help if you can see which ones bring deposits and not only clicks, and that is where <a href=\"https:\/\/cpvlab.pro\/testing\">split testing<\/a> and tracking work together.<\/p><\/blockquote><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Q: Do affiliates send traffic straight to the offer or use a prelander first?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Mikhail Zhukov:<\/strong> We can divide iGaming into parts. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Betting works with prelanders only when there is a big event, like the World Cup or the Champions League. If a known team plays today, you can make creatives about that team, and it reminds people to go and support their favorite team. On days without big matches, just let the traffic run to the main page, or the registration page at most.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For slots, crash games and so on, it is better to use prelanders. The same goes for casinos. We have experience with playable prelanders and static prelanders, and they work differently in different parts of the world and in different countries.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The main idea is to simplify the prelander and make it really simple<\/strong>. There are many specific things about the internet in different countries. If you work with African countries and you make a big, complicated prelander with sparkles, running effects and music, people will not see it because of the internet connection. If you simplify it to the main message with the bonuses, maybe with some animation, that is it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is also really important to look at the funnel. If your prelander has two or three steps, you can filter people who are interested in iGaming from those who are not. <strong>You see who closes the page at some point and who goes to the landing page and registers. <\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There are good tools to check how users behave on your prelander. You can literally see where they click, why they skip, and what is interesting on which page. It is also popular to add a short survey. For example, &#8220;Are you interested in the offer? If yes, press yes&#8221;, and then people go to the iGaming landing page. If not, you can redirect them to another vertical.<\/p>\n\n\n\n<figure class=\"wp-block-pullquote\" style=\"font-size:15px\"><blockquote><p><strong>Julia&#8217;s Take:<\/strong> Attention spans keep getting shorter, so a simple prelander makes sense. Kyle Dana told me something similar about video sales letters in <a href=\"https:\/\/cpvlab.pro\/blog\/champions-of-performance-marketing\/kyle-dana-digistore24-metrics-payouts\/\">Part 2 of his interview<\/a>: audiences now want shorter content.<\/p><\/blockquote><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Q: Once a campaign is profitable, what is the right way to scale it? What breaks most often?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Mikhail Zhukov:<\/strong> It is really easy: <strong>increase your payout <\/strong>or your CPM. In networks like Adsterra, and our big friends in the market, the higher you bid, the better impressions you win. If you have a really big CPM, or a big CPA payout for conversions, you will receive the biggest amount of traffic, and it will be fresh and high quality traffic.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Second, reduce the limits.<\/strong> If everything is going well, you see good revenue and you have the budget, remove the cap so that nothing limits your campaign and everything good can flow into it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But don&#8217;t forget to check, because when you scale, there is a big chance of running into big problems. At some point you can start buying traffic that is not really relevant, especially if you are not working with a whitelist. If you are working with a blacklist, a site can do something not good one day, and you will receive bad traffic. So scaling is a big responsibility.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">I can also suggest this. If your campaign is really profitable and you see that the GEO works for you,<strong> try other ad formats.<\/strong> You can start with pop ads, then go to social bars and display formats. Ask your team about their blacklists and whitelists. It is one of the best ways to scale, because you receive more traffic from different types of performance.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Q: Where does AI help affiliates in iGaming right now?<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-2-1024x538.jpg?wsr\" alt=\"Mikhail Zhukov of Adsterra on how local football phrases in creatives gave one of his best CTRs in Brazil\" class=\"wp-image-17338\" srcset=\"https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-2-1024x538.jpg 1024w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-2-300x158.jpg 300w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-2-768x403.jpg 768w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-2.jpg 1200w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-2-70x37.jpg 70w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-2-850x446.jpg 850w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Mikhail Zhukov:<\/strong> It helps a lot. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Five years ago, if you needed a banner, you had to pay a designer, unless you had your own skills. Today AI does a great job with creatives, messages and landing pages. It also helps you build a simplified strategy and analyze sources, comparing volumes with some metrics.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">What I really love is that <strong>AI can make creatives with a local vibe<\/strong>. I had a really nice experience in Brazil, where people do not speak English at all and football is a kind of religion. It is a family tradition. A seven-year-old boy goes to the shop with his father, and they buy him the jersey of the local team, for example S\u00e3o Paulo, and the tradition passes from generation to generation. Fans even have their own hymns, local words about the team and the names of the players.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It was surprising, because most people who try to work with Brazil just do a simplified translation into Portuguese. <strong>We decided to test some local phrases about the team and edit them into the creatives, and it was one of the best CTRs we have seen.<\/strong> People thought it was something from their own place, something understandable and close to them, and that they should support their team. It was amazing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We got that insight because we spent a month in Brazil and attended SiGMA and Afiliadas. We had a lot of cases there that we still work with. Today you do not need to go to Brazil. You can do a short research with AI, trying to find the local conversation about sports and events, and find the solutions to make your creatives more interesting for the users.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And we only spoke about the simple side of AI. We did not touch MCPs, automation and flows. You can automatically create new prelanders every day, create articles, and build your own websites using automation. It is amazing, but also a little scary.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the future, I think every ad network will have its own MCP, and you will have something like a chatbot where you write &#8220;help me with best practices&#8221; and get answers in two minutes, with instructions and screenshots. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can also use MCPs for automatic optimization. For example, you set a rule like &#8220;exclude the sources that don&#8217;t have registrations or FTDs from Adsterra&#8221;, and it does it for you. We already have some automated solutions, but you still need to do some things manually. With AI generation, I think we will be surprised more in the coming years.<\/p>\n\n\n\n<figure class=\"wp-block-pullquote\" style=\"font-size:15px\"><blockquote><p><strong>Julia&#8217;s Take:<\/strong> That is what we see on the tracking side too. The interface matters less now. What matters is the data behind it, and the people who can talk with that data and process it the way they need. And yes, I also learn something today and it is old news tomorrow. If you want to see how affiliates already use AI agents to run campaigns, listen to my episode with <a href=\"https:\/\/cpvone.com\/podcast\/luke-kling-afflift-how-affiliates-are-using-ai-agents-to-run-campaigns-in-2026\">Luke Kling of affLIFT<\/a>.<\/p><\/blockquote><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Q: What is one thing affiliates should know about regulations before they launch a new iGaming campaign?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Mikhail Zhukov:<\/strong> Try to avoid the black part of iGaming. If you are a beginner, do not work with offers that are not licensed, because it is really tricky and dangerous. It is hard to find them, so you will not come across them easily.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Read how it works in the specific country before you launch, because there are so many ways to go wrong, with creatives, messages and the audience. For example, if you do not put 18+ on your ad, or 19+ in Korea, you will be punished with big money. Do a short research on the license and on how you can launch the campaign. You can ask the support team, and you can ask AI, but double check, because sometimes AI looks crazy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">My main point about AI is this: do not try to create something of your own with AI. Ask AI to help you. Think about what you are doing twice, and then go to AI to confirm your thoughts.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There are markets that are totally regulated. Try to avoid them and do not rush in, because it is complicated, and the affiliate program will check you twice. In the grey market it is simpler, because things work. Do not create anything extra aggressive and follow the simple rules about advertising. It is not such a big issue at the moment, but in three, two or maybe five years we will probably have a different kind of discussion.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Q: What is your top advice for someone starting in iGaming right now?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Mikhail Zhukov:<\/strong> My top advice: don&#8217;t rush. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Do your research and put together different kinds of articles and cases. <strong>Don&#8217;t believe all the cases you see on the internet<\/strong>, especially from people writing &#8220;I have ROI 1 million percent&#8221;. Don&#8217;t believe it, believe me. If someone says &#8220;we had a nice experience here&#8221;, for sure it is a very old case. Try to find your own brand, and you will get the best case in the market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So research before you start. Don&#8217;t rush and try to calculate everything before you begin. Don&#8217;t be worried and don&#8217;t be scared, everything will be good, it is experience. But be sure that you are doing the right things.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-3-1024x538.jpg?wsr\" alt=\"Mikhail Zhukov of Adsterra on why beginners should not believe iGaming ROI claims of 1 million percent\" class=\"wp-image-17340\" srcset=\"https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-3-1024x538.jpg 1024w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-3-300x158.jpg 300w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-3-768x403.jpg 768w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-3.jpg 1200w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-3-70x37.jpg 70w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2026\/11\/mikhail-quote2-3-850x446.jpg 850w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>CONCLUSION<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Two things from this second half of the conversation are still with me.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The first is patience. Mikhail told me iGaming money does not arrive fast. A deposit can come three to five days after the click, and a source can need 30 to 90 days before you can judge it. That is why cutting a source too early is the mistake he sees most. I also liked his rule of lowering the bid first and only blacklisting when a source just spends.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The second is how much of his advice is about information. Limits, trackers, lists, ten creatives, a survey on a prelander: all of it is a way to see what is happening before you decide. iGaming looks shiny and attractive from the outside, but it has a lot of ways to lose money if you do not do it right. Mikhail&#8217;s answers show how to avoid most of them.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Here&#8217;s what to take away from Part 2:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Set daily, total and hourly limits, and always use a tracker. Information is everything.<\/li>\n\n\n\n<li>Do not blacklist a source too early. FTDs can come days later, so lower the bid first.<\/li>\n\n\n\n<li>Use three lists: whitelist for winners, grey list for tests, blacklist for sources that only spend.<\/li>\n\n\n\n<li>Plan for about 1,000 per GEO and at least 30 days. 90 days is the maximum.<\/li>\n\n\n\n<li>Watch FTDs, registration-to-deposit and deposit-to-deposit, and test at least ten creatives.<\/li>\n\n\n\n<li>Keep prelanders simple. Betting uses them mainly for big events, while slots, crash games and casinos use them more.<\/li>\n\n\n\n<li>Scale with a higher payout or CPM, open caps and other ad formats, and watch your sources closely while you do.<\/li>\n\n\n\n<li>Use AI for creatives, local phrases and automation, and double check what it tells you.<\/li>\n\n\n\n<li>Avoid unlicensed offers, follow the local rules and age limits, and don&#8217;t rush.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Missed Part 1? <a href=\"https:\/\/cpvlab.pro\/blog\/champions-of-performance-marketing\/mikhail-zhukov-adsterra-igaming-affiliate-marketing\/\">Catch up here<\/a> to see how iGaming differs from other verticals, which GEOs look interesting, and how to pick a first offer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you run iGaming traffic, tracking is what tells you which placements to whitelist and which to cut. <a href=\"https:\/\/cpvlab.pro\">CPV Lab<\/a> has a ready-made Adsterra traffic source, and the <a href=\"https:\/\/cpvlab.pro\/docs\/integrations\/adsterra-integration.html\">Adsterra integration guide<\/a> shows how to set it up. If you prefer a cloud-hosted tracker, take a look at <a href=\"https:\/\/cpvone.com\">CPV One<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/cpvlab.pro\/pricing.php\">Start your 14-day free trial here!<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Contact Mikhail Zhukov<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">If you work in iGaming or want to start, Mikhail is happy to talk. He said you can write to him with any question about iGaming or Adsterra&#8217;s other verticals, and that any case is experience he shares later in podcasts and panel discussions.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.linkedin.com\/in\/mikhail-zhukov-491692261\/\">LinkedIn Mikhail Zhukov<\/a><\/li>\n\n\n\n<li>Telegram: <a href=\"internal:username_regular\/bellator1234@175319698\">@ bellator1234<\/a><\/li>\n\n\n\n<li>Company website: <a href=\"https:\/\/adsterra.com\/?utm_source=adsterra\" target=\"_blank\" rel=\"noreferrer noopener\">Adsterra<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>More episodes from Champions of Performance Marketing:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/cpvlab.pro\/blog\/champions-of-performance-marketing\/josh-littler-on-creatives-tracking-gaps-and-using-ai\/\">Josh Littler on creatives, tracking gaps and using AI<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/cpvone.com\/podcast\/luke-kling-afflift-how-affiliates-are-using-ai-agents-to-run-campaigns-in-2026\">Luke Kling (affLIFT) on how affiliates use AI agents to run campaigns<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/cpvone.com\/podcast\/traffic-optimization-media-buying-tips-from-maria-cherniukh-head-of-advertising-at-adxad\">Maria Cherniukh (ADXAD) on traffic optimization and media buying<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/cpvlab.pro\/blog\/champions-of-performance-marketing\/kyle-dana-digistore24-metrics-payouts\/\">Kyle Dana (Digistore24) on metrics, payouts and direct response (Part 2)<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">See the whole interview on YouTube or on <a href=\"https:\/\/open.spotify.com\/episode\/5PTV9awJALST7WuNaYDrqa?si=MpZbtiTvSpmkvUYgk-P6Kg\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a>.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Mikhail Zhukov: How to Run iGaming Campaigns Without Losing Your Budget | Champions of Performance\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/czN0daSweNY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">FAQ<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>What is the Champions of Performance Marketing podcast?<\/strong> <a href=\"https:\/\/cpvlab.pro\/blog\/category\/champions-of-performance-marketing\/\">Champions of Performance Marketing<\/a> is a performance marketing and affiliate marketing podcast hosted by Julia Draghici, CEO of CPV Lab and CPV One. Each episode features an interview with an affiliate, media buyer, network or brand leader, and every interview is also published on the CPV Lab blog as a written Q&amp;A.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Who is Mikhail Zhukov?<\/strong> Mikhail Zhukov is the head of the CPM department at Adsterra. He has worked at the ad network for 8 years and has focused mostly on iGaming for more than 6 of them.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>How much budget do I need to start an iGaming campaign, and how long should I run it?<\/strong> Mikhail Zhukov suggests about 1,000 per GEO for newcomers, spread over at least 30 days. Results after two or three days, or even two weeks, are not enough to judge a source. 90 days is the maximum time he mentions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>What are a whitelist, a grey list and a blacklist in iGaming campaigns?<\/strong> A whitelist holds the sources that work, often with a higher bid. A blacklist holds the sources that only spend money. A grey list holds sources in their test period, and Mikhail suggests lowering the bid on doubtful sources before blacklisting them, because deposits can arrive days later.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Which metrics matter in iGaming campaigns?<\/strong> Mikhail watches FTDs (first-time deposits), registration-to-deposit and deposit-to-deposit. For display formats he also watches CTR, and he recommends testing at least ten creatives per campaign.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>How can I scale a profitable iGaming campaign?<\/strong> Raise your payout or CPM, remove limits, and try other ad formats like pop ads, social bars and display. While you scale, check your sources closely, because a site can start sending bad traffic, especially if you buy without a whitelist.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>How can I track Adsterra campaigns with CPV Lab?<\/strong> CPV Lab includes a ready-made Adsterra traffic source that you import and then set up with a postback. See the <a href=\"https:\/\/cpvlab.pro\/docs\/integrations\/adsterra-integration.html\">CPV Lab Adsterra integration guide<\/a> for the steps.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<div class=\"wp-block-media-text alignwide is-stacked-on-mobile\" style=\"grid-template-columns:20% auto\"><figure class=\"wp-block-media-text__media\"><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"200\" src=\"https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2023\/05\/julia-avatar-small.png\" alt=\"\" class=\"wp-image-2975 size-full\" srcset=\"https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2023\/05\/julia-avatar-small.png 200w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2023\/05\/julia-avatar-small-150x150.png 150w, https:\/\/cpvlab.pro\/blog\/wp-content\/uploads\/2023\/05\/julia-avatar-small-64x64.png 64w\" sizes=\"auto, (max-width: 200px) 100vw, 200px\" \/><\/figure><div class=\"wp-block-media-text__content\">\n<p class=\"wp-block-paragraph\">Author: <a href=\"https:\/\/www.linkedin.com\/in\/julia-draghici\/\" target=\"_blank\" rel=\"noreferrer noopener\">Julia Draghici<\/a><\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">Julia is the CEO of <a href=\"https:\/\/cpvlab.pro\" target=\"_blank\" rel=\"noreferrer noopener\">CPV Lab<\/a> and <a href=\"https:\/\/cpvone.com\">CPV One<\/a> ad trackers. She has 15+ years experience in the software industry, from development to management. For more than 8 years she is helping marketers get the best out of their marketing campaigns by using a performant ad tracker. Passionate about entrepreneurship, business and performance marketing, Julia loves helping people!<\/p>\n<\/div><\/div>\n\n\n\n<input type=\"hidden\" id=\"hidLocation\" value=\"https:\/\/af.cpvlab.pro\/\">\n<script>var clpconfig = { \"clcsr\" : \"1\", };<\/script>\n<script type=\"text\/javascript\" src=\"https:\/\/af.cpvlab.pro\/landing.js\"><\/script>\n<script type=\"text\/javascript\">checkdirect(36,220)<\/script>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR: In Part 1, Mikhail Zhukov, head of the CPM department at Adsterra, explained why iGaming is different from other verticals, which GEOs look interesting, why creatives must be local, and how a beginner can pick a first offer. In Part 2 of this Champions of Performance Marketing episode, we get into the daily work&#8230;<\/p>\n","protected":false},"author":1,"featured_media":17344,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[203],"tags":[151,160,438,124,493,527],"class_list":["post-17293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-champions-of-performance-marketing","tag-ad-tracking","tag-adsterra","tag-affiliate-marketing-podcast","tag-igaming","tag-performance-marketing-podcast","tag-whitelist"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>iGaming Campaign Optimization | Affiliate Marketing Podcast<\/title>\n<meta name=\"description\" content=\"Mikhail Zhukov of Adsterra on iGaming campaign limits, budgets, tracking, whitelists, FTDs and scaling, plus AI and regulations. 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