Three years building and running a multi-brand iGaming operation across five LATAM markets. This is the engagement that produced the playbook 22Labs now brings to operators — and it is the only one where the team carried the P&L rather than a brief.
Annual deposit run-rate, built from zero
First-time depositors generated
Registered users acquired across 5 markets
Operator-side track record of the team behind 22Labs during a multi-brand iGaming operation over three years. Figures also include $50M+ in gross gaming revenue and a 40% registration-to-FTD conversion rate. These are not agency deliverables for clients — 22Labs provides services to operators and is not an operator itself.
No brand, no players, no affiliate relationships and no historical data to optimise against. In iGaming that combination is unforgiving: acquisition costs are among the highest in digital, margins are compressed by bonus and payment costs, and a cohort that does not return within thirty days rarely returns at all. Every early decision had to be made before there was data to justify it.
Paid, organic, affiliate and influencer channels were run as one system balanced by cost and quality of player, rather than as departments each optimising its own number. Registration volume was never the target — the funnel was tuned end to end toward first deposits that survived their first month.
A 40% registration-to-deposit conversion rate is what separates this from a traffic exercise. That number came from treating bonus cost, payment friction and retention as parts of the same equation as media buying — the levers most agencies never get access to, because they sit on the operator side of the wall.
At its peak the marketing function was more than thirty people, with three specialist agencies working underneath it. Directing external agencies against a P&L, rather than reporting to one, is the perspective 22Labs was founded on.
No, and the distinction matters. These are the results of the team behind 22Labs operating a business of its own, carrying the marketing P&L. 22Labs was founded afterwards to bring that playbook to operators as a service provider.
Argentina, Paraguay, Costa Rica, Guatemala and Honduras — five markets with different payment rails, media landscapes and regulatory conditions, run in parallel rather than sequentially.
That two in five registered users went on to make a first deposit. It is the number that separates acquiring traffic from acquiring customers, and it comes from the funnel, the bonus offer and the payment experience working together rather than being optimised separately.
The system transfers; the numbers depend on your market, licence, platform and product. What we can commit to is the method — optimising to deposits and GGR rather than registrations, and modelling bonus economics before spend rather than after.
Tell us your markets, your platform and where the funnel leaks. We reply within one business day.