Affiliate Agreement Template 2026 (iGaming & Forex)

An affiliate agreement is the legally binding contract between an operator and an affiliate that defines commission economics, marketing restrictions, fraud remedies, and exit terms. In iGaming and forex — two verticals where the regulator holds the operator accountable for what its affiliates publish — the agreement is a compliance document as much as a commercial one. This page contains a complete, annotated affiliate agreement template: nine clause groups with copy-paste wording, drafting notes on what each side pushes for, and the iGaming-versus-forex variations. It pairs with our public-facing [affiliate program terms and conditions template](affiliate-program-terms-conditions-template-2026), which covers the standardised terms every affiliate accepts at signup, and with the [introducing broker agreement template](introducing-broker-agreement-template-key-terms-2026) for the forex IB variant of the same relationship.

What this affiliate agreement template covers

An affiliate agreement is the private, signed contract between an operator and an individual affiliate, while program terms and conditions are the public, standardised rules every affiliate accepts at registration. The private agreement overrides the public terms wherever the two conflict, which is why serious operators use it for negotiated deals — super-affiliates, media houses, and streamers with custom rates — and leave the long tail of partners on the standard terms. If you only need the public-facing document, use the [affiliate program terms and conditions template](affiliate-program-terms-conditions-template-2026) instead; this page covers the negotiated bilateral contract.

The template below is written for iGaming first, with forex variants flagged inline and summarised in a comparison table near the end. Forex programs that run through registered introducing brokers need additional regulatory language — covered in our dedicated [introducing broker agreement template](introducing-broker-agreement-template-key-terms-2026). Wording appears in quoted blocks so you can copy it clause by clause; the paragraphs around each block explain what the clause does and where the negotiating pressure sits.

Clause 1: Parties and definitions — get NGR right

NGR is gross gaming revenue minus bonus costs, payment processing fees, gaming taxes, and chargebacks — and it is the single most disputed definition in any iGaming affiliate agreement. Every deduction you allow shrinks the affiliate's RevShare base, so affiliates read this list before they read the rate. A 35% RevShare on a loosely defined NGR routinely pays less than 25% on a tight one. The template locks the deduction list closed: nothing may be deducted that is not named here.

1.1 'Operator' means [Company Name], a company registered under number [•] with its registered office at [•], holding licence [•] issued by [regulator]. 'Affiliate' means the party identified in Schedule A. 1.2 'Gross Gaming Revenue' (GGR) means all stakes placed less all winnings paid to Referred Players. 1.3 'Net Gaming Revenue' (NGR) means GGR less only the following: (a) bonus and promotional costs actually credited to Referred Players; (b) payment processing fees actually incurred, capped at [3]% of deposits; (c) gaming duties and taxes directly attributable to Referred Players; and (d) confirmed chargebacks. No other deductions apply. 1.4 'Referred Player' means a first-time customer who registers via the Affiliate's tracking link or code and completes identity verification. 1.5 'Qualified Player' means a Referred Player who satisfies Clause 4. 1.6 'Commission Period' means one calendar month.

Drafting notes: the phrase 'no other deductions apply' is what affiliates fight for, and reasonable operators concede it — an open-ended deduction list is the classic source of payout disputes. For the forex variant, replace GGR/NGR with 'Net Revenue', defined as spread and commission income minus rebates, swap discounts, and liquidity costs on referred accounts, and replace 'Referred Player' with 'Referred Client'. Whatever definition you sign, your platform must be able to compute it: if your reporting cannot itemise bonus cost and processing fees per player, you cannot prove your own NGR figure during a dispute.

Clause 2: Commission and payment — CPA, RevShare, and hybrid variants

CPA deals in regulated iGaming markets typically run $250-$600 per Qualified Player, RevShare deals run 25-45% of NGR, and hybrids pair a reduced CPA of $100-$250 with 15-25% RevShare. This template ships all three as drop-in variants — pick one per deal in Schedule A rather than rewriting the clause. The payment mechanics (currency, timing, minimum threshold, invoicing) stay identical across all three models.

2.2 Commission is calculated within [7] days of each Commission Period's end and reported in the Affiliate's portal account, itemised per Referred Player. 2.3 Payment is due within [15] days of report acceptance, in [USD/EUR], via the method in Schedule A, subject to a minimum payout of [$500]; balances below the minimum roll forward without expiry. 2.4 The Affiliate may dispute a commission report within [30] days of publication; undisputed reports are deemed accepted. 2.5 The Operator may amend commission rates for future periods only, with [30] days' written notice; rate changes never apply retroactively to players already referred.

Drafting notes: clause 2.5 is the affiliate-protective position — grandfathering existing players at the old rate. Many operator-drafted agreements instead allow rate changes on the whole book with notice; expect pushback from any affiliate with a mature RevShare portfolio. In forex, the CPA equivalent is paid per funded, trading account, and the RevShare equivalent is either a percentage of net revenue or a lot-based rebate of $6-$12 per standard lot; keep the reporting and dispute mechanics of 2.2-2.4 unchanged.

Clause 3: Negative carryover and high-roller provisions

Negative carryover means a Commission Period in which Referred Players' NGR is negative — a big winner, in practice — and the deficit rolls forward against the affiliate's future earnings instead of resetting to zero. Operators like carryover because it stops them paying commission on revenue they never kept; affiliates hate it because one high-roller win can bury months of future income. The market convention in 2026 is no negative carryover for standard deals, with carryover reserved for high-rate super-affiliate contracts.

3.1 [No-carryover variant] If NGR for a Commission Period is negative, commission for that period is zero and the negative balance shall NOT be carried forward; each Commission Period starts at zero. 3.2 [Carryover variant] If NGR for a Commission Period is negative, the deficit shall be carried forward and offset against NGR in subsequent Commission Periods, provided that (a) any deficit remaining after [3] consecutive Commission Periods is written off, and (b) deficits attributable to a single Referred Player winning more than [$25,000] in one Commission Period are excluded from carryover.

Drafting notes: the two safety valves in 3.2 — a time-boxed write-off and a single-player exclusion cap — are what make carryover acceptable to professional affiliates. The forex analogue is negative net revenue caused by rebate-heavy or A-book-loss months, and the same two valves apply. Whichever variant you pick, your commission engine must apply it automatically per period; hand-adjusted carryover balances are a standing invitation to disputes.

Clause 4: Qualification rules

Qualification rules determine when a Referred Player becomes commissionable — in this template, a minimum deposit of $20, minimum wagering of $50, and completed KYC in iGaming, or a $200 net deposit and 0.5 traded lots in the forex variant. Without them, CPA deals pay out on registrations that never generate a cent of revenue, which is precisely the traffic fraud rings manufacture. Qualification thresholds are the operator's first anti-fraud filter and the affiliate's first payout gate, so both sides need them to be objective and machine-checkable.

4.1 [iGaming] A Referred Player becomes a Qualified Player when they have (a) deposited at least [$20] in aggregate; (b) wagered at least [$50] on eligible products; (c) completed identity and age verification; and (d) not been flagged under Clause 6 — all within [60] days of registration. 4.2 [Forex] A Referred Client becomes qualified when they have (a) made net deposits of at least [$200]; (b) traded at least [0.5] standard lots (or equivalent); and (c) passed KYC/AML checks — all within [90] days of account opening. 4.3 Each customer can qualify once; multiple accounts held by the same person count as one Referred Player, attributed to the earliest registration.

Drafting notes: the time-box ('within 60/90 days') matters more than the thresholds — open-ended qualification makes CPA liabilities impossible to forecast. Affiliates should demand that qualification status be visible in the partner portal in real time, per player, so they can reconcile CPA counts without emailing the affiliate manager. Operators should resist any qualification rule their platform cannot evaluate automatically.

Clause 5: Marketing restrictions, brand bidding, and regulatory compliance

Brand bidding is the practice of buying search ads against the operator's trademarked terms, and it sits alongside misleading claims and unapproved creatives as the three marketing behaviours every serious affiliate agreement must ban. The regulatory context makes this clause existential in both verticals: UKGC licence conditions make the operator responsible for its affiliates' advertising, MGA licensee obligations require documented affiliate due diligence, and on the forex side the FCA's financial-promotion rules (PS22/10) and ESMA's guidance on investment recommendations on social media reach affiliate content directly. In the US, FTC endorsement guidance additionally requires affiliates to disclose their commercial relationship.

5.1 The Affiliate shall not: (a) bid on the Operator's trademarks, brand names, or misspellings thereof in any paid search or app-store advertising, nor use them in ad copy, display URLs, subdomains, or domains (see the Operator's separate Brand Bidding Policy, incorporated by reference); (b) make misleading claims, including guaranteed winnings or profits, 'risk-free' offers, or bonus terms that misstate wagering requirements; (c) target self-excluded persons or persons under [18/21], or direct gambling content to jurisdictions on the Restricted List in Schedule B; (d) use spam, cookie stuffing, forced clicks, toolbar injection, or incentivised sign-ups without written approval; (e) publish creatives other than those provided in the affiliate portal or approved in writing, each of which must carry the applicable responsible-gambling or risk warnings; and (f) fail to disclose the affiliate relationship where required by applicable law, including FTC endorsement rules. 5.2 The Affiliate warrants ongoing compliance with all advertising rules applicable in each jurisdiction it targets, including UKGC LCCP, MGA directives, and — for financial products — FCA and ESMA financial-promotion requirements. 5.3 The Operator may audit the Affiliate's sites, ads, and traffic sources at any time, and may require removal of any content within [24] hours of notice.

Drafting notes: incorporate your full PPC policy by reference rather than inlining it — our [brand bidding policy template for gambling programs](affiliate-brand-bidding-policy-template-gambling-2026) is written to slot into 5.1(a). The 24-hour takedown obligation in 5.3 is what regulators expect to see when they ask how you control affiliate advertising; without an enforcement mechanism, a written ban is theatre. Forex programs should extend Schedule B with the ESMA/FCA risk-warning wording that must appear on every promotion, including the standardised percentage-of-retail-accounts-losing-money disclosure.

Clause 6: Fraud, clawback, and payment suspension

A clawback clause is the operator's contractual right to reclaim or offset commission already paid on traffic that later proves fraudulent, charged back, or bonus-abused — with a 90-day window in this template. Fraud in affiliate programs concentrates in a few patterns: multi-accounting, self-referral, stolen-card deposits, bonus abuse rings, and incentivised junk sign-ups. The clause has to do three things: define the triggers objectively, give the operator an investigation window with payment suspension, and cap how far back recovery reaches so the affiliate is not carrying unlimited tail risk.

6.1 'Fraud Traffic' means activity that the Operator reasonably determines to involve: multi-accounting; self-referral by the Affiliate or its associates; deposits with stolen or unauthorised payment instruments; bonus abuse; collusion; or traffic generated contrary to Clause 5. 6.2 No commission accrues on Fraud Traffic. Where commission has already been paid on Fraud Traffic, the Operator may reclaim it by offset against future payouts or, failing sufficient balance, by invoice — limited to commission paid in the [90] days preceding the notification of the finding. 6.3 The Operator may suspend payment of disputed amounts for up to [60] days while investigating, and shall provide the Affiliate with per-player evidence of any Fraud Traffic finding. 6.4 Chargebacks reverse the corresponding commission in the period the chargeback is confirmed. 6.5 Repeated or deliberate Fraud Traffic is a material breach permitting immediate termination under Clause 7.

Drafting notes: the evidence obligation in 6.3 is the affiliate's key protection and the mark of a professional program — 'trust us, it was fraud' does not survive contact with a super-affiliate's lawyer. Operationally, every clawback needs a traceable chain from commission line to originating player, deposit, and event; that audit trail is a platform capability, not a spreadsheet exercise, and it is what turns this clause from a threat into a routine accounting entry.

Clause 7: Term, termination, and surviving commissions

Termination for convenience runs on 30 days' written notice in this template, termination for cause is immediate, and earned RevShare survives for 12 months after a convenience exit. The survival question — does the affiliate keep earning on players they already referred after the contract ends — is the second most negotiated term after NGR. Operators want a clean stop; affiliates who built a book on lifetime RevShare argue the players were the consideration for years of promotion. A time-boxed tail is the standard 2026 compromise.

7.1 This Agreement starts on the Effective Date and continues until terminated. 7.2 Either party may terminate for convenience on [30] days' written notice. 7.3 The Operator may terminate immediately for material breach, including breach of Clauses 5 or 6, regulatory demand, or the Affiliate's insolvency. 7.4 On termination for convenience: (a) accrued and future CPA amounts for already-Qualified Players remain payable; and (b) RevShare continues to accrue on existing Referred Players for [12] months, after which all entitlements end. 7.5 On termination for cause under 7.3, all unpaid and future commissions are forfeited to the extent attributable to the breach, and otherwise paid out at the next payment date. 7.6 Clauses 1, 6, 8, and 9 survive termination.

Drafting notes: forfeiting all commission on any for-cause termination — a common operator-draft position — is the kind of term that ends up quoted in affiliate forums; limiting forfeiture to commissions 'attributable to the breach' keeps the clause enforceable and the program's reputation intact. Forex IB agreements negotiate the same tail under the name 'trail commissions'; see the [IB agreement template](introducing-broker-agreement-template-key-terms-2026) for the multi-tier override treatment.

Clause 8: Data protection, GDPR, and confidentiality

GDPR penalties reach EUR 20 million or 4% of worldwide annual turnover, and affiliate relationships sit squarely inside the regulation because tracking links, click IDs, and conversion postbacks are personal data processing. The template takes the market-standard position: each party is an independent controller of the data it collects on its own properties, the operator never shares raw player identities with the affiliate, and reporting is aggregated or pseudonymised. Confidentiality then protects the commercial terms themselves — super-affiliate rates leak, and every leak reprices your whole program.

8.1 Each party is an independent data controller for personal data it collects. The Affiliate shall maintain a compliant privacy notice covering its tracking, obtain any consents required for cookies and similar technologies, and honour data-subject rights for data it controls. 8.2 The Operator shall provide reporting on a pseudonymised or aggregated basis only; the Affiliate acquires no right to Referred Players' identity data and shall not attempt to re-identify individuals. 8.3 The Affiliate shall not market to, retarget, or transfer data about Referred Players other than to perform this Agreement, and shall not sell or share tracking data with third parties. 8.4 Each party shall notify the other without undue delay of any personal data breach affecting Referred Players' data. 8.5 Each party shall keep the terms of this Agreement and all non-public program data confidential for the term and [3] years after, except disclosures required by law or to a regulator.

Clause 9: Liability, indemnity, and governing law

Liability caps in affiliate agreements are typically set at the commission paid in the preceding 12 months, and the indemnity runs from the affiliate to the operator for regulatory exposure the affiliate's marketing creates. That asymmetry is defensible: the affiliate is the party publishing content the regulator will attribute to the operator's licence. The affiliate's counter-ask is to exclude its own cap from the operator's payment obligations — a cap that lets the operator simply not pay earned commission is not a cap, it is an option.

9.1 The Affiliate shall indemnify the Operator against losses, fines, and reasonable costs arising from the Affiliate's breach of Clause 5, its unlawful marketing, or its misuse of data under Clause 8. 9.2 Neither party is liable for indirect or consequential loss. Each party's aggregate liability is capped at the total commission paid or payable in the [12] months before the claim — except for the indemnity in 9.1, fraud, and the Operator's obligation to pay properly accrued commission, which are uncapped. 9.3 This Agreement is governed by the laws of [jurisdiction]; disputes go to the exclusive jurisdiction of the courts of [venue], after a mandatory [30]-day executive negotiation period. 9.4 This Agreement, including its Schedules, is the entire agreement and supersedes the Operator's standard program terms to the extent of any conflict.

iGaming vs forex: what changes between verticals

Forex affiliate agreements replace NGR with net revenue or lot-based rebates of $6-$12 per standard lot, and swap gambling advertising rules for ESMA and FCA financial-promotion requirements. The skeleton of the contract is identical — which is why one template serves both — but five clause areas need vertical-specific wording. The table below summarises every substitution so you can convert the template in minutes.

How to use this template

1. Step 1: Copy the clause blocks into your master document and fill every bracketed [•] value — rates, thresholds, windows, jurisdictions.
2. Step 2: Pick one commission variant from the Clause 2 table per deal and delete the unused variants; record the chosen numbers in Schedule A.
3. Step 3: Choose your negative carryover position (3.1 or 3.2) and align it with the rate you offered — carryover justifies a higher RevShare percentage.
4. Step 4: Attach your brand-bidding and creative policy as Schedule B, and list restricted jurisdictions explicitly rather than 'as notified from time to time'.
5. Step 5: Have counsel in each licensing jurisdiction review Clauses 5, 8, and 9 against local advertising, data, and consumer rules.
6. Step 6: Configure your affiliate platform so commission logic, qualification rules, and clawback windows match the signed numbers exactly — every dispute starts where the contract and the system disagree.

How this template was built

This template distils clause patterns from live operator and broker agreements across 12 markets, checked against UKGC, MGA, FCA, and ESMA guidance. The four regulatory anchors are the UKGC licence conditions and codes of practice, MGA licensee obligations, the FCA's PS22/10 financial-promotion rules, and ESMA's guidance on investment recommendations on social media. Commission and threshold figures reflect the deal ranges Track360 sees across iGaming and forex programs on the platform, corroborated by EGBA European market data and public program terms. Bracketed values are deliberately mid-market defaults — negotiate them, don't inherit them. The template is reviewed against regulator guidance updates twice a year; this is the 2026 edition.