The affiliate marketing industry in iGaming is worth over $13 billion globally, yet only a small portion of affiliates drive most of the revenue. According to Rakuten, the top 5% of affiliates generate more than 70% of total sales. This statistic alone highlights why focusing on quality over quantity is more than just a strategic choice—it’s a business imperative.
In this article, based on the “Where’s My Money?” podcast by Peaky Ads featuring Brendon Spiteri, Affiliate & SEO expert, and hosted by Vasilii Gamov, CEO of Peaky Ads, you’ll learn how to build a boutique affiliate network that delivers sustainable ROI, deeper partnerships, and superior traffic quality.
What is a boutique affiliate network?
A boutique affiliate network is defined by selectivity and strategic focus. Rather than onboarding hundreds of affiliates with varying performance, the boutique model prioritizes deep relationships with fewer trusted, high-performing partners.
“Working with 30 strong affiliates is far more effective than trying to manage 300 average ones.” – Brendon Spiteri.
This model emphasizes performance, transparency, and manageable growth, making it ideal for companies that want to scale smart.
Why choose the boutique model?
- Focused growth.
A boutique network allows you to scale not by expanding your affiliate list, but by maximizing value from existing partners. This approach ensures better resource allocation, deeper partner understanding, and ultimately, stronger results. - Enhanced traffic quality.
When the volume is low, the atrus is high, and it is easier to monitor traffic sources, detect anomalies, and avoid fraud. According to ClickGuard, open affiliate networks experience four times more fraud incidents than closed or boutique ones. - Better relationships.
Having fewer affiliates allows the managers to offer greater one-on-one assistance. That includes advice on funnel optimization, GEO targeting, campaign management, and even direct feedback on conversion tactics.
Affiliate recruitment and onboarding
Picking affiliates for a boutique network involves doing due diligence and building relationships. While open registration may be allowed, the path from sign-up to activation is far more rigorous.
“Everyone registers through our site, but I always insist on a call. I need to understand your funnel and intentions before proceeding.” – Brendon.
If an affiliate is unknown, a small test cap (e.g., 20 FTDs) is arranged, followed by a performance review and feedback. Those who perform well and demonstrate transparent traffic can scale further.
Metrics that Matter
Operators and affiliates often evaluate success through different lenses. Boutique networks bridge this gap by understanding and aligning both perspectives.
| Metric | Operator perspective | Affiliate perspective |
| FTD Volume | High Priority | Medium Priority |
| Redeposits | Critical | Limited Visibility |
| EPC (Earnings Per Click) | Less relevant | Crucial |
| Conversion Rate | Important | Important |
| Click Quality | Key focus | Key focus |
“If a publisher brings 20 solid FTDs with high retention, that can be more valuable than 200 low-quality leads.” – Brendon
Platform capabilities and data strategy
A boutique network must offer accurate and timely performance data to deliver value to affiliates. Brendon’s network operates on a proprietary platform designed for flexibility and transparency.
Key platform features include
- Real-time postback support for registration, FTD, and qualification.
- GEO-based performance benchmarks (e.g., click-to-deposit rates).
- Traffic source tagging for PPC, SMS, Facebook, SEO, and more.
- Granular reporting and feedback for both affiliates and operators.
This allows publishers to benchmark their traffic, adjust strategies, and confidently enter new markets.
Top performing GEOs and traffic sources
Boutique networks are often more agile in responding to GEO trends. Brendon highlighted the following as current strong performers:
Top GEOs:
- Nordic countries.
High conversion and CPA rates (up to €400+). - GCC region.
Rising interest from operators and increasing player value. - Latin America.
High traffic volume, better suited for CPA than revenue share.
Best performing sources:
- PPC (Google Ads) remains the strongest, despite challenges with account bans
- SMS traffic is unexpectedly effective in Scandinavia and Africa
- Facebook and in-app traffic are becoming viable alternatives as PPC becomes riskier.
“Even some operators were surprised at how well SMS traffic performed in Finland and Sweden.” – Brendon.
Fraud prevention and quality control
Due to the smaller partner list and closer relationships, fraud detection and traffic quality control significantly easier in a boutique setting.
If something looks off, we immediately talk to the operator. We don’t need third-party tools to track our affiliates, we know them. Transparent communication between the publisher, the network, and the operator forms the foundation of fraud prevention.
Scaling the boutique: strategies
Scaling doesn’t mean abandoning the boutique approach. Instead, it means doing more with less.
Scalable strategies include:
- Offering more brands and deals to the same affiliates
- Expanding into new GEOs through partner testing
- Supporting vertical diversification (e.g., adding SEO or app-based funnels)
“We grow by staying on top of market trends, onboarding new operators, and giving affiliates deals as soon as markets open up.” – Brendon.
Revenue models and profit margins
Boutique affiliate networks typically aim for a 10–20% margin depending on deal type, affiliate leverage, and traffic quality.
| Deal type | Average margin | Preferred use case |
| CPA | 10–15% | Nordics, short-term performance |
| RevShare | 20–30% | Long-term GEOs, loyalty models |
| Hybrid | 15–25% | GCC, mid-value markets |
Negotiation plays a significant role. The affiliate’s leverage (i.e., traffic quality and scale) often determines how much margin the network can retain.
“If the affiliate brings quality, they get what they ask for. But we can negotiate hybrid deals that benefit both sides.” – Brendon.
Operating costs and profitability
Boutique networks often maintain lean operations, which helps preserve profitability despite modest margins.
Typical boutique team structure:
- 2–3 affiliate managers
- 2 in-house developers
- No external media spend or large overheads.
“We invest in relationships and technology, not in massive advertising. Most leads come from events, panels, and personal recommendations.” – Brendon.
Common mistakes to avoid
Building a boutique network is not without risk.
Brendon warns of several common pitfalls:
- Lack of operator relationships.
Without trust, you won’t get good deals. - Scaling too fast.
Managing 100 affiliates with a small team can dilute quality. - Ignoring traffic source clarity.
You can’t protect your reputation if you don’t understand your partner’s funnel. - Failing to onboard properly.
Circumventing the vetting process leads to poor conversions and damaged relationships.
“Your reputation with operators is everything. If you don’t have it, you’ll get poor deals and miss out on the top affiliates.» – Brendon.
Conclusion
A boutique affiliate network isn’t a smaller-scale version of a traditional one — it’s an alternate model. Instead of volume, it’s founded on trust, accuracy, strategy, and relationship.
For affiliate managers and entrepreneurs looking to build something long-lasting in the iGaming space, boutique networks offer better traffic quality, higher partner loyalty, stronger operator relationships, lower exposure to fraud, and sustainable margins.
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