Definition
Second Deposit Conversion (FTD2SD) is the percentage of first-time depositors who make a second successful deposit within a stated observation window. It is an early indicator of repeat payment behaviour, not proof that product, payments or the first-session experience caused the return.
Formula
FTD2SD % = Players with a 2nd successful deposit ÷ Players with a 1st successful deposit
Both counts are distinct players within the same cohort; only successful deposits qualify. FTD2SD is the second row of the wider deposit retention family (Dep retention[N] = share of FTD cohort reaching an N-th deposit).
A related concept is the Regular Depositor (RD) — a player with at least two successful deposits (some brands set the bar at three and call it RD3+). FTD2SD is, in effect, the conversion rate from first-time depositor to regular depositor.
How operators use it
| Required cut | Why it matters | Comparison rule |
|---|---|---|
| Observation window | Seven-, 30- and 90-day results are not interchangeable | Use one fixed maturity window |
| Source × market tier | Cohort intent and payment access differ | Compare like-for-like acquisition cohorts |
| Bonus/control state | An offer can buy a second deposit at high cost | Report incremental NGR and protection exclusions |
A low reading is a prompt to decompose the journey, not a diagnosis. Check payment approvals, unresolved withdrawals, first-session errors, content availability, offer eligibility and communications separately. Test any second-deposit trigger or loss-back against a valid control and protection rules.
FTD2SD matures sooner than long-horizon LTV, so it can be used as an early signal only after the operator demonstrates its historical relationship with incremental NGR and LTV. Do not use it as an automatic channel kill-switch without sample-size, cohort-mix and cost checks.
A larger welcome package can improve the metric while worsening economics. Report bonus cost, incremental second deposits, subsequent NGR and retention together; otherwise the conversion rate can reward subsidised behaviour rather than durable value.
Common misinterpretations
FTD2SD is often conflated with generic "retention rate," but they answer different questions: FTD2SD measures a deposit milestone, while cohort retention measures activity within calendar windows. A second error is reading a blend without segmenting by channel, market tier, bonus state and observation window.
Related metrics: First-Time Deposit (FTD) · Cohort Retention · Loss-back and Cashback · LTV · Churn Rate
Common questions
What is a good second deposit conversion rate?
There is no defensible universal 40–60% benchmark. The result depends on the observation window, product, market tier, payment method, traffic source, bonus design and player-protection exclusions. Compare like-for-like cohorts and set an internal baseline with sample size and uncertainty.
Does FTD2SD predict LTV?
It can be an early indicator of repeat payment behaviour, but the strength of association must be tested on the operator's cohorts. A higher FTD2SD does not prove incremental LTV if it was purchased through costly bonuses or if cohort mix changed.
What is a Regular Depositor (RD)?
A player with at least two successful deposits (some operators set the bar at three, labeled RD3+). Converting first-time depositors into regular depositors within the first 30 days is the central task of a retention team, and FTD2SD is the metric that tracks it.