Online Casino Case Study: 23X ROAS at L2.2M Spend

Country: Lesotho | Service: Google, Meta Ads & Native ads Management | Duration: April 2025 – April 30 2026

Challenge

Advertising casinos is extremely restricted. Platforms like Google and Meta only allow licensed sports betting promotions, not full casino ads. This meant:

Obtaining platform-specific betting licenses
Building compliant landing pages (no direct deposit allowed)
Navigating strict policies for gambling creatives
Running multi-platform campaigns without triggering disapprovals
Scaling aggressively while keeping CPA stable

The goal was to achieve rapid growth without violating policies and still maintain profitable CPA.

💡 Strategy

Initial campaign strategy was to focus on 5 platforms: Google Ads Meta Ads X Ads Adsterra Bidvertiser

Google

Decided to spend more on Google Registration campaigns. 60% of the Google Budget was on Registration campaign. 20% was allocated to FTD focused campaigns. 20% allocated on Performance Max and demand gen campaign.

Google Ads: Search + Demand Gen
Separate Search campaigns for generic, brand, and competitor terms

Meta Ads

Meta ads is designed to utilise the Remarketing feature i.e not available in Google. So we have spent around 20% budget on remarketing efforts. There were separate remarketing campaigns spending on Registrations and FTDs. However, we still spend 40%:

Registration-focused TOF campaign
FTD-focused remarketing campaign
Meta allows to run remarketing

🚀 Results

✅ Revenue generated L49.494 million
✅ Total Ad Spend: L2,155,030
✅ Total Deposits: 476,329
✅ FTDs: 41,245
✅ Total Registration: 276,269
✅ CPA of Registration: L 5.57
✅ CPA FTD: L 42.65

ROAS = 49,494,000 / 2,155,030 = 22.97

Execution Across Multiple Ad Networks

Launched campaigns in: Google • Meta • X Ads • Bidvertiser
Traffic Junky campaigns planned and in pipeline

Tracking & Analytics

Complete conversion tracking setup
Custom dashboards created in Google Analytics
FTD & Registration-based reporting for decision-making

Budget Strategy

Higher budget for TOF to maximize registrations
Efficiency-focused reallocation weekly

📈 What’s Happening Now

Since April 2025, results have consistently improving.

FTD CPA dropped from R55 (Oct 2025) to R48 (Nov 2025)
This improvement happened despite increasing budget by 20%
Registrations and FTD volume continue to scale month over month

This trend shows the system is becoming more efficient as it scales, which is the hallmark of a well-built performance engine.