Evolution Gaming

Evolution Gaming is a heavy hitter in the world of iGaming, producing many of the most-loved games at crypto casinos.

Specialising in live casino games, Evolution Gaming has grown into one of the largest companies in the industry, with a reputation for quality games with a lot of playability.

But how did Evolution Gaming expand to reach the very summit of the iGaming world?Our full guide to Evolution Gaming has the full details about the iGaming firm, so read on.


Introduction to Evolution Gaming and a brief history

The history of Evolution Gaming can be traced all the way back to its foundation in 2006. The company was set up by two men called Jens von der Lippe and Michael Ruve.

In the early years of the company, it set its sights on providing a revolution of the European live dealer platform – a goal it has certainly met in the years since then. Within a few years of being formed, Evolution Gaming was garnering a lot of attention and collecting the company’s first industry awards as a mark of its rapid progress. People soon sat up and took notice of the firm.

Evolution became the largest single-site casino operation in Europe in 2013, the year after the company launched its mobile offering for the first time. With mobile gaming set to become the future of the industry, Evolution Gaming was one of the first to spot the trend and capitalise.

As Malta and Belgium studios opened with Evolution Gaming continuing to expand, the company took the next step by becoming listed on Nasdaq First North Premier in Stockholm.

The pioneering spirit of Evolution Gaming could be seen when the company launched its first live game shows, an area that is now extremely popular in crypto casinos around the world.

Exclusive games from the Evolution Gaming developers such as MONOPOLY Live and Deal or No Deal Live followed and these remain some of the best live dealer games to this day.

In recent years, Evolution Gaming has broadened its horizons with a string of takeovers. In 2020, the company took over both NetEnt and Red Tiger – two of the best known game developers in the world of iGaming – following those moves by acquiring DigiWheel in 2021.

With the company’s launch of its third US live casino studio in Michigan, Evolution Gaming’s place right at the top of the industry was clear. The company’s excellence was then recognised when it was named the winner of the Live Casino Supplier of the Year prize for the 12th year running at the EGR B2B Awards – signalling how hard it is for rivals to compete with Evolution.

Innovation has continued at Evolution Gaming with the release of Gonzo’s Treasure Hunt, a game with a VR mode that combines live casino and slots – it might be the future of iGaming.

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What games does Evolution Gaming make?

Anyone who has played at crypto casinos before is sure to have experienced Evolution Gaming titles at some point. While the company is a titan when it comes to live casino games, the firm also makes plenty of slot games, especially through subsidiaries such as Red Tiger and NetEnt.

Top slots made by Evolution Gaming include the likes of Gonzo’s Quest and Starburst – both of which came via the NetEnt studio – as well as games that use the Megaways slots game mechanic, which has become wildly popular among customers who play at crypto casinos.

Big Time Gaming is also part of Evolution Gaming these days, so any BTG slots that people are used to playing come under the same umbrella company as well. Having BTG, NetEnt and Red Tiger under the same roof means the range of games provided by Evolution Gaming is vast.

Big Time Gaming

All online casino players are sure to be familiar with the now ubiquitous ‘Megaways’ mechanic, which came out of Big Time Gaming – now part of the Evolution Gaming group of companies. BTG has been around for about a decade but it was the launch of the Megaways slots games that took the firm on to a new level. Megaways slots offer as many as 117,649 ways to win and they have been a huge success story at online casinos over the course of recent years. As Big Time Gaming was acquired by Evolution in 2021, it is one of the most recent additions.


Founded in 1996, NetEnt is one of the most experienced developers of online casino games. NetEnt has more than 1,000 employees and is listed on Nasdaq Stockholm, with the Swedish company having grown from humble origins into a major player in the iGaming industry. As NetEnt has partnered with more than 200 operators, its titles are available to play on many of the biggest and best online casinos in the world. Some 200 games and counting have been released by NetEnt so far, including Starburst, which is one of the most famous slots around. Gonzo’s Quest and the Knight Rider slot also come from the NetEnt stable, which was acquired by Evolution Gaming a couple of years ago.

Red Tiger

Founded in 2014, Red Tiger is a slots specialist with its games offered by countless online casinos, especially since it has been part of Evolution. Winner of a wide range of industry awards over the years, Red Tiger has created a number of branded slots including a popular game based on the show Narcos. Red Tiger is known for being particularly innovative, with the firm in 2021 releasing what it claimed was the first slot game to integrate NFTs (non-fungible tokens). NFT Megaways includes four CryptoPunks, which were some of the earliest NFTs.


One of the first companies to be snapped up by Evolution, Ezugi is another pioneer in the area of live casino games, having produced some of the top options in this sphere. Ezugi now runs nine studios with 20 games and its titles are available in every country in the world, with the deal with Evolution helping it to partner with around 100 different operators. The Ezugi studios are based in Europe, Asia, and Latin America and all run on a 24/7 basis, meaning players have the chance to enjoy its live games at any time of the day or the night. As Ezugi is registered and licensed by the Curacao eGaming Licensing Authority, players can also be assured that they are legal. With all of the Ezugi games that come under the Evolution banner also verified by the SCG-Bulgaria, ItechLabs, BMM, RSG-Eclipse, they are legit as well.


Ireland-based DigiWheel literally aims to reinvent the wheel, with its casino game innovations persuading Evolution Gaming to do a deal for the company. DigiWheel created the world’s first 360° rotating HD digital spinning wheel, which is a natural fit for many of Evolution’s titles. The aim of the deal, which was announced in 2021, will be for DigiWheel technology to be used in Evolution’s wheel-based live casino titles like Dream Catcher, Crazy Time and other games.

Live game shows

Live game shows are a relatively new invention at crypto casinos, with Evolution Gaming the pioneer of this fresh type of game. With the launch of Gonzo’s Treasure Hunt, users have the option to play in VR (Virtual Reality) mode, which many think will be the future of iGaming. The excitement levels are always sure to be high when playing Gonzo’s Treasure Hunt due to the fact that the game allows players to win up to 20,000x per individual stone on the game’s wall.

Dubbed by Evolution Gaming as the most fun casino game ever made, Crazy Time is another of the company’s top games that are commonly among the most popular at crypto casinos. With not one, not two, not three but a massive four types of bonus games – Cash Hunt, Pachinko, Coin Flip and Crazy Time – Crazy Time lives up to its name with thrilling gameplay for users.

Unique concepts are what Evolution Gaming is all about, so it would be remiss not to mention Peek Baccarat here. A new twist on the card game that is hugely popular at crypto casinos in Asia in particular, in a game of Peek Baccarat players get the chance to take a “peek” at one to four cards mid-game. If they like what they see, they have the chance to increase the initial bet.

Many of the top games at crypto casinos are based on intellectual property – IP for short – these days, with Evolution Gaming following other developers in creating games on various brands. As an example, the live casino games made by Evolution Gaming include the family favourite Monopoly and Deal Or No Deal, the box-based game show that is popular all over the world.

In the live casino game version of Deal Or No Deal that has been made by Evolution Gaming, players have the chance to try their luck with a wide range of unique prize multipliers. In the live hosted Deal or No Deal game show, crypto casino customers can win 75x–500x the amount of their bet depending on the cash value of the suitcase that they have selected in the game.

Of course, poker is still extremely popular at crypto casinos, so it is no surprise to see that Evolution Gaming has covered this area too. Live Poker by Evolution Gaming offers players a unique way to test out their skills at the table, taking on multiple hands against the dealer.

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How Evolution Gaming breaks new ground around the world

Evolution Gaming might have its roots in Sweden, but this iGaming giant is truly giant. With the business being a global one, Evolution Gaming has always made an effort to break into new markets ahead of its peers, which has helped the company to stay clear of the competition.

As an example, Evolution Gaming has been at the forefront of the North American online casino market, which is forecast to continue to expand at a rapid rate over the coming years. While gambling laws across the United States are being reformed quickly, it stands to reason that companies like Evolution Gaming that are ready to take advantage will be reaping the rewards.

Evolution was the first live casino provider in Argentina, a move that the company made in 2021. In order to do so, Evolution Gaming partnered with operator BetWarrior in order to make the move into the newly regulated Buenos Aires Province online gaming market. This is a clear sign that Evolution Gaming has a willingness to be the first company into these new nations.

Asia has long been a fertile hunting ground for Evolution Gaming, with the company’s appetite for innovation helping to make sure it creates games that appeal to this particular market. The Red Envelope feature for Baccarat shows the way Evolution Gaming wants to break the mould. By being able to include these types of regional touches in their titles, it signals that Evolution Gaming wants to take a tailored approach, which will help to ensure its future prosperity.

Even though most within the iGaming industry would describe the European market as being matured already, Evolution Gaming is not satisfied with its position in this part of the world. In the Netherlands for example, a regulated online gambling market has been opened recently and Evolution Gaming was chosen to power a lot of the approved casino companies in the country.

Back in North America, Canada is another top target market for Evolution. In April, the company announced that it had gone live with an extensive set of online casino services for a wide range of operators in the new, regulated online gaming market in the Canadian province of Ontario.

Evolution does not just create its own games from scratch, the company also powers sites from the likes of 888, BetMGM, LeoVegas, Rush Street Interactive and theScore Bet, a site which is a wholly-owned subsidiary of giant Penn National Gaming.

The future of Evolution Gaming

The future of Evolution Gaming appears to be very bright. With the company having experienced incredible success in the 15 or so years since it was founded, it seems set to enjoy even further expansion in the coming months and years.

In the firm’s Year-end Report for January-December 2021, Evolution Gaming reported a healthy 69 per cent rise in its operating revenues, which came in at a touch over 300 million euros. Martin Carlesund, the chief executive at Evolution Gaming, stated that “the value of our strategy to focus on the player experience” has been justified by the successful financial results. As he highlighted the fact there has been strong global demand for live casino games over the last year, it stands to reason that Evolution Gaming’s boom period is not going to be coming to an end any time soon. However, it has not been all plain sailing for Evolution Gaming of late.

Towards the end of 2021, a report claimed Evolution Gaming had been accused of operating in an array of worldwide black markets – which the company itself was quick to refute. It was claimed Evolution was doing business where online gambling is not legal, but the company insisted this is not the case and it continues to stick to gambling rules across the planet.

In a statement released alongside the financial results for 2021, Carlesund said: “Towards the end of the quarter, a dubious, anonymous and falsified report with the clear intention to harm Evolution was published. We have over 15 years’ experience of operations in regulated environments and we are comfortable and confident in our ways of working, our business model as well as in our constant strive to improve in all areas.”

He went on to stress that “Evolution is a content provider and we only supply to licensed customers” but noted the company will be working on processes in relation to due diligence. While some might have expected the accusations against Evolution Gaming to hang a dark cloud over the future of the company, this does not appear to be the case. With Carlesund insisting that the report was without merit, Evolution Gaming seems to be in the clear.

Indeed, the company is pushing on in a bid to record even better financial results in 2022. The studio is intending to push out dozens of new titles over the course of the year. Evolution Gaming expects that during 2022 it will release 88 new games to be played at crypto casinos. One of the new titles to have already been released is BacBo – a game Evolution Gaming has described as being a simplified version of Baccarat, which works with dice rather than cards. This game shows that Evolution Gaming thinks outside the box, with innovation prized highly.

In February, Evolution Gaming revealed 25 of the titles it is planning to roll out in 2022, with the company’s chief product officer at Evolution Todd Haushalter saying: “In the last two years, Evolution has grown and diversified through a series of significant acquisitions and for the first time we get to present our roadmap for the Group. As a result, we are now, more than ever, a powerhouse of innovation and creativity. Across the group we have amazing innovations, mega collaborations with massive entertainment brands, successful homegrown game concepts such as our ‘Lightning’ family that has become an online gaming phenomenon, and lots of exciting cross-pollination of ideas between our Group brands and across ‘live’ and ‘slots’. I cannot tell you how super-excited we are to share our amazing roadmap and to see these games go live.”

With the reputation of the iGaming giant still considered to be very strong, Evolution Gaming’s place as one of the top developers in the business is set to continue for a long time to come. Its position at the top of the sector is assured due to its diversification, with Evolution Gaming not just creating its own titles but acting as a provider of technical solutions for live dealer gaming

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