When Google removed right-hand side ads from the SERP in February, digital advertisers across industries braced for impact. For the iGaming sector, and especially during one of its most lucrative periods—the Cheltenham Festival—concerns were immediate. Would click volumes drop, CPCs surge, and smaller advertisers be priced out?
The Media Image (TMI) went deep into five years of aggregated Cheltenham data to find answers. Here’s what they uncovered.
Impact #1: CTR in Lower Positions Took a Hit
With positions 4 and beyond relegated to the bottom of the page, the assumption was that these placements would see minimal engagement compared to their former side-of-page real estate.
The data backs this up—Position 1 pulled in significantly more clicks across the four-day Festival. This is likely enhanced by improved ad extensions (Callouts, Sitelinks, Structured Snippets) that make top ads more compelling.
Interestingly, while click distribution has clearly shifted leftward, the effect wasn’t as catastrophic as anticipated. One surprise: positions 3 to 3.5 saw a notable boost in click volume. That shift in attention may reflect changes in user scanning behaviour with the new ad format.
Impact #2: Positions 3 and 4 Saw CTR Surge
With position 4 ads now appearing inline at the top, the assumption was a significant CTR uplift—and this time, the numbers confirm it.
Across multiple verticals, TMI has observed that higher placement equals higher CTR. In iGaming, CTR in positions 3 and 4 jumped 149% year-on-year. All top ad positions experienced CTR growth, while positions further down the page suffered declines.
This change also raises concerns for SEO. If AdWords absorbs more of the available clicks, and those clicks aren’t additive but competitive with organic results, then organic visibility may be further compromised—especially during high-competition events like Cheltenham.
Impact #3: CPCs Fell—Against Expectations
The big fear? That intensified competition for top spots would drive CPCs sky-high. But the actual result was counterintuitive: CPCs in positions 3 and 4 actually dropped.
This seems logical when viewed alongside CTR improvements—better performance at lower cost. However, given the iGaming sector’s competitiveness, TMI expected the market to adjust quickly, pushing prices back up.
The team likens the trend to the post-Enhanced Campaigns period, where CPC premiums on mobile took time to normalise. For now, advertisers previously stuck in the mid-pack (positions 4–5) may find new opportunities to move up the page without breaking the budget.
But the window may be brief. As more advertisers refine strategies, this CPC advantage is likely to shrink.
Conclusion: Short-Term Gains, Long-Term Watchfulness
Google’s SERP redesign has redefined the economics of ad placement. For Cheltenham, the data confirms:
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Higher positions yield more CTR
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Mid-upper positions offer rare value
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Lower placements are increasingly marginalised
For advertisers in saturated markets, now is the time to test, optimise, and ride the current CPC wave. But make no mistake: the SERP has changed, and strategies must adapt accordingly.
