A sportsbook allocated $73K to Meta campaigns with automatic placements enabled. Over 40% of spend went to Audience Network and Messenger placements with 0.03% conversion rates, while peak betting hours received only 22% of daily budget.

A local service business burned $15K on Meta Ads due to CBO spreading budget to non-performing ad sets and Audience Network placements with zero conversions. See how switching to ABO and manual placements cut CPA by 71%.