I raised this question in this thread http://www.casinoaffiliateprograms.com/bb/which-casinos-work-best-for-you.11321.html?
After running your numbers it really does seem as if there is a bit of a catch when you sign up to the true wager model. It always makes me slightly suspicious when programs come up with new models that are supposed to generate a lot more than the established deals. [delete: I will see if I can sign up for the rev share if they don´t force you to take… ]
Ok, forget that. I just checked and they only offer new sign ups the true wager model or a 50$ CPA (<- very tempting:unhappy: ). There must be a way though to negotiate to be included in the rev share model.