Evolution Evolution
The world's largest live casino provider, founded in Sweden in 2006. It created live game shows like Crazy Time and Lightning Roulette, and by acquiring NetEnt, Red Tiger, Big Time Gaming, and Nolimit City it also became a major group in slots.
| English | Evolution |
|---|---|
| Classification | Providers |
| Launch | 2006 |
| Founders | Jens von Bahr, Fredrik Österberg |
| Headquarters | Stockholm, Sweden |
| Listing | Nasdaq Stockholm (2015) |
| Main studios | Riga (Latvia), Tbilisi (Georgia), Malta, New Jersey, Pennsylvania and Michigan (US), Canada |
| Focus | Live casino, live game shows, RNG slots |
| Group brands | NetEnt, Red Tiger, Big Time Gaming, Nolimit City, Ezugi |
| Signature games | Crazy Time, Lightning Roulette, Monopoly Live, Dream Catcher |
| Official site | evolution.com |
Overview
Evolution (formerly Evolution Gaming) is an online casino provider founded in Sweden in 2006 by Jens von Bahr and Fredrik Österberg. It is considered the world leader in live casino, where a real dealer runs the game in front of a camera and players join through the screen.
It listed on Nasdaq Stockholm in 2015, then acquired slot providers one after another and became a huge group with both live casino and slots. NetEnt, Red Tiger, Big Time Gaming, and Nolimit City, all covered on AI Slot, belong to the Evolution group: NetEnt, Red Tiger, Big Time Gaming, Nolimit City.
What is live casino
In live casino, human dealers at a studio or a real casino deal cards and spin the roulette wheel, broadcast in real time, while players place bets on screen. Unlike regular online games, results are decided by real cards and balls rather than an RNG (random number generator). In return, real dealers and studios must run 24 hours a day, which takes a lot of staff and money. Most Evolution employees are dealers and hosts.
Growth history
| Period | Details |
|---|---|
| 2006 | Launched in Sweden, with its first large studio in Riga, Latvia |
| 2015 | Listed on Nasdaq Stockholm |
| 2017 | Launched its first live game show, “Dream Catcher” |
| 2018 | Acquired live casino provider Ezugi |
| 2019 | Launched “Monopoly Live” and “Deal or No Deal” |
| 2020 | Launched “Crazy Time.” Announced the acquisition of NetEnt (reported at about 2.1 billion euros), which brought in Red Tiger, owned by NetEnt, as well |
| 2021 | Acquired Big Time Gaming (owner of the original Megaways technology) |
| 2022 | Acquired Nolimit City |
Top games
| Games | Type | Highlights |
|---|---|---|
| Lightning Roulette | Live Roulette | Each round, a random number gets a 50x-500x multiplier |
| Crazy Time | Live Game Shows | A big wheel with 4 bonus games. Known for its flashy studio production |
| Monopoly Live | Live Game Shows | A wheel game based on the board game “Monopoly” |
| Dream Catcher | Live Game Shows | A simple game show where a wheel with numbers is spun |
| Live Blackjack & Baccarat | Live tables | The core of Evolution’s revenue. Some formats allow unlimited players at a single table |
The RTP of live game shows differs by game and by betting spot. For example, Crazy Time is reported at roughly 94-96% depending on the betting spot. It helps to know that wheel games have a different RTP for each spot (RTP).
Slot business
Evolution was originally a live casino company, but through acquisitions it has become one of the leading groups in slots as well. Brands within the group keep their own names and development cultures.
- NetEnt – classic hits like Starburst and Gonzo’s Quest
- Red Tiger – Daily Drop jackpots and a wide range of Megaways games
- Big Time Gaming – the original Megaways technology
- Nolimit City – extremely high-volatility slots
Licenses and regulation
Evolution holds licenses in many regulated markets, including Malta’s MGA, the UK’s UKGC, the US states of New Jersey, Pennsylvania, and Michigan, and Canada’s Ontario. Because US rules make it hard to send game data outside state lines, it sets up and runs a separate local studio in each state.
That said, its size also draws criticism. There have been repeated claims that Evolution games are used in unlicensed markets (unlicensed sites), and the company has said it is stepping up monitoring of this. In Korea, using online casinos without government approval is illegal.
Inside an Evolution studio
Evolution’s large studios have dozens to hundreds of game tables lined up, each with its own cameras, and dealers run games around the clock in shifts. The player’s screen shows video from several camera angles, the betting board, and a chat window. Some casino operators also keep their own dedicated tables (dedicated dealers, custom design) inside Evolution studios.
Card and roulette results are read automatically with optical recognition technology and used to settle bets. That way, games run with real cards but can be settled as fast as online games.
Live games vs. slots
| Item | Live casino (e.g., Live Blackjack) | Slots |
|---|---|---|
| Result determination | Real cards, balls, and wheels | RNG |
| Speed | Slow (tens of seconds per round) | Fast (a few seconds per spin) |
| Payback rate | Blackjack and baccarat are usually 98-99% | Usually 94-97% |
| Volatility | High for game shows, low for table games | Varies by game |
| Minimum bet | Set per table | Can be set low |
Why did it acquire slot providers?
Live casino is a business with high dealer labor costs. Slots, on the other hand, cost little extra once built, and they make up a large share of online casino revenue. By acquiring NetEnt, Red Tiger, Big Time Gaming, and Nolimit City, Evolution became a “one-stop” supplier of both live games and slots. Each brand still keeps its own independent development culture within the group.
Headquarters
Evolution is headquartered in Stockholm, Sweden, and runs large live studios in Riga (Latvia), Tbilisi (Georgia), and other locations.