Toast
Toast Studio, Inc. builds and licenses multiplayer, synchronous skill games (PvP blackjack, plinko-style, bingo, gin rummy, cricket) to real-money gaming operators via three APIs and a white-label platform, solving player liquidity from day zero.
- Company typePrivate
- Founded2024
- HeadquartersNew York, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Toast does
Toast Studio, Inc. is a B2B software company that builds and licenses multiplayer, synchronous skill games to real-money gaming (RMG) operators such as sportsbooks, online casinos, sweepstakes platforms, and fantasy operators. Its product is a library of head-to-head, turn-by-turn games — including 21 Hustle (PvP Blackjack), Basketball Hustle, Pinfall, Pinfall Manic, Fling the Piggy, Easy Bingo, Gin Rummy, and Cricket PowerPlay — built specifically for betting audiences rather than generic gamers, with each title designed for high replay value and real-money monetization in a multiplayer environment.
The underlying technology is a server-backed synchronous multiplayer architecture that pairs players against each other in real time, supported by a global player liquidity pool intended to solve the cold-start problem that undermined prior skill-gaming entrants (Disney's skillgames.com, King.com, Worldwinner, Skilljam, Skillz). Operators integrate via three simple APIs, with a free copy-and-paste lobby available for testing and a stated go-live time of under a day. Toast also offers a white-label full-platform option for partners seeking turnkey launch, and an Operator Dashboard with real-time controls for lobbies, fees, rewards, and margins, plus a Real-Time Player Insights module for live engagement metrics, ARPU/retention/liquidity snapshots, and custom alerts.
Toast monetizes through game licensing and managed-services-style platform fees to RMG operators, supplemented by recurring subscription revenue from the Operator Dashboard tooling. The go-to-market is a hybrid of API-first self-serve (free lobby trial), product-led growth (live operator dashboard), and enterprise field sales (Request a Demo). Named customers include Ember (3M+ users), GamerSaloon, and Sparket, with GamerSaloon reporting $150 daily handle per user, $50 three-month LTV, and 25% D7 rolling retention. In September 2025, Toast closed a $1.6 million seed round led by Lightspeed Venture Partners with Lightspeed India Partners.
Toast firmographics
Firmographics- Name
- Toast
- Legal name
- Toast Studio, Inc.
- Website
- https://topdog.games/
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Toast Studio, Inc. builds and licenses multiplayer, synchronous skill games (PvP blackjack, plinko-style, bingo, gin rummy, cricket) to real-money gaming operators via three APIs and a white-label platform, solving player liquidity from day zero.
- Ownership category
- akta.pro rank
Toast industry classification
Industry- Product category
- Real-Money Skill Gaming Software
- NAICS
- Gambling Industries (7132)
- SIC
- Services-Miscellaneous Amusement & Recreation (7990)
- akta.pro primary industry
- Skill-Based & Hybrid Gaming Machines (MPAEAJAE)
- akta.pro secondary industry
- Sportsbook Platform & PAM Providers (B2B) (MPAEACAC)
Keywords
Where Toast is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Toast business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales
Revenue model
- Game Licensing to Operators: Toast licenses its skill games to RMG operators. The company builds and licenses multiplayer, synchronous games designed for bettors. They also white-label a full-serviced platform for partners looking to launch quickly.
- Platform Services: Provides complete platform infrastructure including server-backed games, liquidity, and operational support as part of the licensing arrangement
- Operator Dashboard & Tools: Revenue generated from operator tools including real-time controls, margin management, and insights features
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Free Lobby / Integration Trial |
| Other | Multi-year contract | Enterprise / Full Platform |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels4 records
Toast product offering
Product offeringCore offering
Toast builds and licenses a library of multiplayer, synchronous skill games (21 Hustle, Basketball Hustle, Pinfall, Pinfall Manic, Fling the Piggy, Easy Bingo, Gin Rummy, Cricket PowerPlay) designed for real-money gaming operators. It also offers a White-Label Platform and an Operator Dashboard with real-time controls, player insights, and margin/bonus management, integrated via 3 simple APIs with go-live in less than a day.
Product overview
Toast is a real-money skill gaming platform for RMG (Real Money Gaming) operators. The offering consists of a library of turn-by-turn synchronous multiplayer skill games (21 Hustle, Basketball Hustle, Pinfall, Pinfall Manic, Fling the Piggy, Easy Bingo, Gin Rummy, Cricket PowerPlay) designed for betting audiences, complemented by a white-label platform option and an Operator Dashboard for game management, player insights, and real-time controls. Toast provides the complete infrastructure including global player liquidity, server-backed games, and operational support, enabling partners to integrate and launch quickly via APIs.
Differentiator
Problem solved
Functional benefit
Products and services
- Toast Skill Games Library A library of multiplayer, synchronous skill games designed for real-money gaming (RMG) operators. Includes head-to-head titles like PvP blackjack, basketball, plinko-style, bingo, gin rummy, and cricket, each built for betting audiences with high replay value and monetization potential in a multiplayer environment.
- 21 Hustle (PvP Blackjack) Head-to-head blackjack game with no dealer or RNG edge. Features simultaneous hit/stand timer keeping matches under a minute, designed for high-velocity lobbies and real-money betting.
- Basketball Hustle Draft your team and outscore rivals in five turns. Fantasy meets manager gameplay with live scoring and per-shot strategy, built for hoops fans who want control without live games.
- Pinfall Aim and fire to light pegs with combo physics and wormholes for ball returns. High score wins with same map for all opponents. Combines Plinko meets Peggle with emphasis on precise angles and timing.
- Pinfall Manic A variant of Pinfall with aim and fire gameplay to light pegs. High score wins format.
- Fling the Piggy Casual strategic launch game where players adjust angle and power, bounce through obstacles, and travel the farthest distance. Features relaunches, TNTs, and traps with live leaderboards.
- Easy Bingo Quick ~4 minute bingo games where both players get the same 75-ball draw order and three identical cards. Players choose which card to mark each call, tuned for decision-making and rewards for lines/full house.
- Gin Rummy Classic gin rummy card game where first to 100 points wins. Features draw/discard mechanics, knock at ≤10 deadwood, with extra points for gin and undercuts. Average five-minute matches with authentic rules.
- Cricket PowerPlay Both players draft batters from a shared pool and select shots (1,2,4,6) before each delivery. Outscore your rival with transparent RNG seeds based on real-life historical performance. <5-minute matches ideal between live games.
- Operator Dashboard Operator-first dashboard for managing and optimizing skill games. Includes real-time game controls for lobbies, fees, and rewards, margin and bonus management with zero downtime, detailed player and revenue insights, in-built customer support tools, and operator-first UX for quick changes and live monitoring. Includes Real-Time Player Insights feature with live engagement metrics, performance snapshots, and custom alerts.
- White-Label Platform A full-serviced white-label platform for partners looking to launch quickly. Toast builds and licenses multiplayer synchronous games and provides the complete infrastructure including liquidity, tech, and operational support to go live fast and grow revenue.
Quantifiable outcome
- $150 daily handle per user
- +2 more outcomes
Companies that use Toast
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Toast technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Toast partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered notable and core.
- EmbernotableEmber integrated Toast games for their community of 3M+ users. Games are described as fast, reliable, and delivering competitive edge valued by Ember's user base.
- GamerSalooncoreGamerSaloon integrated Toast games into their GamerSaloon Arcade. Toast games are among the most popular titles. GamerSaloon reports $150 daily handle per user, $50 3-month LTV, and 25% D7 rolling retention. Integration took only one day with instant player liquidity.
- SparketnotableSparket uses Toast games to engage users and generate new revenue. Toast provides new ways to keep users on the platform and drive monetization.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Toast competitors and assessment
Company assessmentDirect peers
- Skillz: Skillz operates the most prominent real-money skill gaming platform, hosting head-to-head competitive mobile games for money. It directly competes with Toast in skill-based wagering mechanics, though Skillz is primarily consumer-facing and Toast is B2B-only — both target the same underlying skill-gaming economics and player liquidity dynamic.
- AviaGames (Pocket7Games): AviaGames runs Pocket7Games, a suite of real-money competitive skill games including bingo, solitaire, and pool. It is a direct competitor in the skill-based real-money gaming vertical with the same multiplayer synchronous wagering format Toast enables for its B2B partners.
- Worldwinner: Worldwinner is a long-running real-money skill games platform (tournaments in solitaire, bingo, puzzle games). Toast explicitly cites it as a peer that struggled with liquidity — they compete in the same head-to-head skill wagering category.
Broad incumbents
- Bragg Gaming Group: Bragg is a B2B iGaming content and platform provider serving the same operator customers Toast targets (sportsbooks, casinos). It offers a broader content library but no specialized synchronous skill gaming vertical, positioning it as a portfolio incumbent rather than a direct rival.
- Light & Wonder: Light & Wonder is a major global gaming content and platform supplier with deep relationships across the same RMG operators Toast sells into. It does not specialize in synchronous skill gaming but has the studio scale and operator contracts to compete on content breadth.
- Pragmatic Play: Pragmatic Play is a leading B2B iGaming content provider (slots, live casino, bingo, virtual sports) with established distribution into RMG operators. While focused on casino-style content, its studio capacity and operator relationships make it a credible competitor if it expands into skill gaming.
- GAN (now Seaport Entertainment / GAN Limited): GAN is a B2B platform provider for online sports betting and casino operators, serving real-money customers in the US and Europe. It is a relevant peer in B2B RMG distribution, with overlapping operator relationships but a different content focus.
Others
- Sportradar: Sportradar provides sports betting data, trading, and platform services to sportsbook operators — exactly the operator segment Toast targets. While not a content provider, its deep operator relationships and platform footprint make it a strategic partner or channel for Toast's expansion.
- Kambi Group: Kambi is a B2B sportsbook platform provider serving tier-1 operators globally. Its operator customers are a natural distribution channel for Toast's skill gaming content; the relationship is adjacent rather than competitive but highly relevant for go-to-market.
Emerging players
- Arkadium: Arkadium operates casual and skill-based games with both free and real-money formats for media and gaming partners. It overlaps with Toast in casual skill gaming mechanics but historically focused on free-to-play distribution rather than pure RMG licensing.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Toast financial estimates
Financial estimateRevenue estimate
Valuation estimate
Toast leadership team
Management profileNumber of profiles
Profiles3 records
Toast funding detail
Funding detailFunding overview
Funding rounds2 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Toast M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Toast
What does Toast do?
Toast builds and licenses a library of multiplayer, synchronous skill games (21 Hustle, Basketball Hustle, Pinfall, Pinfall Manic, Fling the Piggy, Easy Bingo, Gin Rummy, Cricket PowerPlay) designed for real-money gaming operators. It also offers a White-Label Platform and an Operator Dashboard with real-time controls, player insights, and margin/bonus management, integrated via 3 simple APIs with go-live in less than a day.
Is Toast a public or private company?
Toast is a private company. It is classified as venture growth investor backed and is currently operating.
When was Toast founded?
Toast was founded in 2024. It employs 11 to 50 people.
Where is Toast based?
Toast is headquartered in New York, United States, in the North America region.
How does Toast make money?
Three revenue lines are on record. Game Licensing to Operators are the primary driver. The others are platform Services and operator Dashboard & Tools.
Who are Toast's main competitors?
Direct peers on record are Skillz, AviaGames (Pocket7Games) and Worldwinner. Broad incumbents are Bragg Gaming Group, Light & Wonder, Pragmatic Play and GAN (now Seaport Entertainment / GAN Limited). Others are Sportradar and Kambi Group. Arkadium is listed as an emerging player.
Does Toast have an API?
Yes. Toast provides 3 simple APIs for operators to integrate their skill games. Integration can be completed in less than a day with a free lobby that goes live with simple copy-and-paste code. The APIs enable operators to configure games and lobbies, and connect to Toast's global player liquidity pool for real matches against real players.
What industry is Toast in?
Toast's product category is Real-Money Skill Gaming Software. Its primary akta.pro industry code is MPAEAJAE, Skill-Based & Hybrid Gaming Machines, with a secondary code of MPAEACAC, Sportsbook Platform & PAM Providers (B2B). Its NAICS code is 7132 and its SIC code is 7990.