White Hat Gaming

What White Hat Gaming does

White Hat Gaming is a private B2B SaaS provider of Player Account Management (PAM) platforms for the regulated online gambling and sports betting industry. Founded in 2012 and headquartered in Malta, with a Delaware-registered US operating entity, the company licenses its end-to-end proprietary PAM to licensed operators — sportsbooks, online casinos, tribal gaming entities, lottery couriers, and land-based casinos expanding online — across 25+ US jurisdictions plus Ontario, the UK, Malta, and New Zealand. Notable operator customers include Bally's Corporation, WynnBET, PENN Entertainment (Barstool), Jackpocket, Christchurch Casinos, and Choctaw Nation of Oklahoma; White Hat Studios content is distributed to BetMGM, FanDuel, DraftKings, Golden Nugget, Resorts, and Tipico among others.

The platform is built end-to-end in-house on a hub-and-spoke architecture with cloud (AWS) hubs and in-state hardware spokes that satisfy US regulatory hosting requirements. Core proprietary components include the award-winning Travelling Wallet (first-to-market cross-state player wallet launched Q1 2020), a PCI DSS SAQ A-certified in-house cashier with crypto deposit support and BIN routing, a real-time event feed via Kafka and Segment, a safer-gambling algorithm with 50+ behavioral harm markers, and a CRM suite integrated with Optimove, Salesforce Marketing Cloud, and Competition Labs. The platform aggregates Kambi's sportsbook-as-a-service alongside 3,000+ games from 130+ third-party content providers. White Hat Studios, a wholly-owned content division created in 2021 through the acquisition of Blueprint Gaming's RGS and catalogue, supplies branded European slots (Ted, Deal or No Deal, Peaky Blinders, Beavis and Butthead, Worms) and live casino via partnerships with Ezugi and Galaxy Gaming.

Revenue is generated through multi-year enterprise B2B SaaS contracts for PAM licensing and managed services (24/7 customer support, payments, compliance, CRM marketing), supplemented by content licensing royalties from White Hat Studios. Pricing is custom and not publicly disclosed; the company sells via enterprise direct sales rather than self-service. No public funding rounds or revenue figures are disclosed.

Name

White Hat Gaming

Legal name

White Hat Gaming

Website

https://whitehatgaming.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

501–1,000 employees

Short description

White Hat Gaming is a private B2B SaaS provider of proprietary Player Account Management (PAM) platforms for licensed online gambling and sports-betting operators across 25+ US jurisdictions, the UK, Malta, Ontario, and New Zealand. It serves sportsbooks, casinos, tribal operators, and lottery couriers (e.g., Bally's, WynnBET, Jackpocket, Choctaw Nation), with a content arm (White Hat Studios) supplying branded slots to BetMGM, FanDuel, and DraftKings.

Ownership category

akta.pro rank

Product category

iGaming Platform / Player Account Management (PAM)

NAICS

Gambling Industries (7132)

akta.pro primary industry

iGaming Platform Providers (Turnkey/Casino & Sportsbook Platforms) (MPAEAKAA)

akta.pro secondary industry

Game Aggregation, Content Distribution & RGS (Remote Game Servers) (MPAEAKAG)

Keywords

• IGaming platform provider
• Player Account Management
• Online casino software
• Sportsbook platform
• White-label gaming

Headquarters

HQ city

Sliema

HQ country

Malta

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. PAM Platform Licensing (SaaS): White Hat Gaming licenses its proprietary PAM (Player Account Management) platform to licensed gaming operators on a B2B SaaS basis. Operators gain access to a fully managed, battle-tested PAM solution including proprietary cashier, traveling wallet, CRM tools, compliance tools, and integrations with third-party content providers. Revenue is generated through platform fees, managed service fees, and licensing arrangements with operators.
2. Managed Services: White Hat provides fully managed services including 24/7 customer support, CRM marketing support, payment processing, compliance and regulatory services, and player protection tools as part of its PAM offering. These are bundled into the platform licensing or charged as managed service fees.
3. Content Licensing (White Hat Studios): White Hat Studios licenses branded casino/slot game content (from Blueprint Gaming portfolio and own RGS) to licensed US operators. Content includes slots, jackpots, RNG table games, instant-win titles. Revenue likely derived from revenue share or licensing fees per game or operator.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

White Hat Gaming licenses a proprietary, end-to-end built Player Account Management (PAM) platform to licensed online gaming and sports betting operators in regulated markets, with optional white-label full-stack deployment. The platform aggregates Kambi sportsbook, over 3,000 casino games from 120+ providers, an in-house cashier, CRM tools, and compliance/player protection features. Through White Hat Studios, the company also licenses branded slot, jackpot, and RNG table game content to US operators.

Product overview

White Hat Gaming operates as a B2B SaaS iGaming platform provider offering a modular, full-service architecture. At its core is the proprietary Player Account Management (PAM) platform — built end-to-end by White Hat Gaming — which serves as the central hub for player account management, wallet functionality, compliance, and reporting. Operators can choose a PAM-only solution or a full white-label deployment where WHG manages the entire stack. The platform integrates Kambi's sportsbook-as-a-service module for sports betting and aggregates over 3,000 casino games from 120+ providers for casino content. Key proprietary modules include the award-winning Travelling Wallet™ (first-to-market cross-state wallet solution), the PCI DSS SAQ A-certified In-House Cashier (with configurable payments and real-time risk monitoring), and a CRM Marketing Suite integrated with tools including Optimove, Salesforce Marketing Cloud, and Competition Labs for gamification. White Hat Studios — a separate content division created in 2021 from Blueprint Gaming's acquired RGS catalogue — operates in parallel to the PAM via a dedicated Remote Gaming Server (RGS), supplying branded slots, jackpots, RNG table games, and instant-win titles to US operators.

Differentiator

Problem solved

Functional benefit

Brands

• Travelling Wallet: Proprietary first-to-market travelling player wallet solution that allows players to move across states and gaming verticals while retaining their balance without needing to transfer additional funds.
• WHG Cashier

Products and services

• Player Account Management (PAM) Platform

Named customers14 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability1 record

Feature7 records

Partnerships

20 partnerships are on record, tiered strategic and core.

• ITV StudiosstrategicTechnology or Integration · 1 June 2026Licensing partnership for Love Island branded slot games. White Hat Gaming develops Love Island: Unlocked slot for FanDuel Casino under license from ITV Studios. Ariana Madix serves as lead ambassador. Second installment in multi-game collaboration series.
• Choctaw Nation of OklahomacoreTechnology or Integration · 13 March 2024Exclusive iGaming PAM deal with Choctaw Nation of Oklahoma (third-largest Indian Nation in the US). WHG supplies PAM platform including proprietary cashier, multiple RGS integrations, managed services, and Traveling Wallet. Enables Choctaw Nation to offer a world-class iGaming product across multiple states.
• PENN Entertainment / Barstool SportscoreTechnology or Integration · 22 November 2023WHG PAM powers Barstool Sportsbook (PENN Entertainment) in multiple US states. Barstool Sports was the first US sportsbook to offer crypto deposits via WHG's in-house built cashier. Partnership includes Day 1 launches in multiple states including Kansas (13th state).
• Christchurch Casinos LimitedstrategicTechnology or Integration · 11 October 2023Full white-label PAM solution powering Christchurch Casino's online operations in New Zealand at www.christchurchcasino.com. Includes CRM marketing support, proprietary cashier, extensive payment options, 24/7 customer support, player protection tools, and over 3,000 games from leading developers.
• Bally's CorporationcoreTechnology or Integration · 26 April 2023Exclusive multi-year B2B sports betting and platform partnership. White Hat Gaming provides its PAM solution, proprietary cashier, Traveling Wallet, managed services, and White Hat Studios content to power Bally's online and retail sportsbooks across the US. WHG also powers Bally Casino in Rhode Island (iGaming). Partnership includes rapid multi-state deployment (Ohio, Arizona, Virginia, Colorado, Indiana, New York, Iowa, Rhode Island, and more).
• JackpocketcoreTechnology or Integration · 8 March 2023Exclusive iGaming PAM deal in the US with Jackpocket (#1 lottery app in the US, backed by Mark Cuban, Kevin Hart, Manny Machado). WHG provides PAM, Traveling Wallet, and White Hat Studios content. Jackpocket's online casino launched in New Jersey via Caesars Interactive Entertainment New Jersey LLC.
• WynnBETcoreTechnology or Integration · 21 December 2022Exclusive PAM deal in the US covering all future states. WynnBET gains access to WHG's PAM, proprietary cashier, multiple RGS integrations, and award-winning Traveling Wallet. Partnership includes state launches in 2023 including Massachusetts. Six-state migration (Arizona, Colorado, Indiana, Louisiana, Tennessee, Virginia) completed in one day.
• Galaxy GamingstrategicTechnology or Integration · 20 July 2022Partnership adding Galaxy Gaming's proprietary casino table games including Blackjack Player's Choice and six world-leading side bets (21+3, Perfect Pairs, Lucky Ladies, Lucky Lucky, Buster Blackjack, Suit'em Up) to White Hat Studios' table game portfolio.
• DraftKingscoreTechnology or Integration · 24 May 2022White Hat Studios content deal providing European market-leading slots, jackpot slots, and RNG table content to DraftKings in live states across the US including New Jersey, Michigan, Pennsylvania, Connecticut, and West Virginia. Includes titles like Ted, Deal or No Deal, and Peaky Blinders.
• Tipico USstrategicTechnology or Integration · 19 April 2022White Hat Studios content partnership for Tipico online casino customers in New Jersey and future states. Provides branded slots, jackpot games, and Megaways titles including Deal or No Deal, Ted, and Worms.
• Resorts Digital GamingstrategicTechnology or Integration · 5 April 2022Content deal providing online casino customers in New Jersey with slots, jackpot games, Megaways titles and more from White Hat Studios' portfolio including Deal or No Deal, Worms, and Ted.
• BetMGMcoreTechnology or Integration · 28 March 2022White Hat Studios content deal to supply branded slots, jackpot slots, and RNG table content to BetMGM players in New Jersey, Michigan, Pennsylvania, and West Virginia. Includes titles such as Ted, Deal or No Deal, and Peaky Blinders.
• FanDuel GroupcoreTechnology or Integration · 24 March 2022White Hat Studios content deal with FanDuel Group to supply European market-leading slots, jackpot slots, and RNG table content to FanDuel Casino, Stardust Casino, PokerStars, and Mohegan Sun Casino in New Jersey, Michigan, Pennsylvania, Connecticut, and West Virginia. FanDuel also runs WHG-developed Love Island: Unlocked slot game with $500,000 prize pool promotion.
• Golden Nugget Online GamingstrategicTechnology or Integration · 9 March 2022White Hat Studios content deal supplying European market-leading slots, jackpots, full house, and branded titles (Ted, Deal or No Deal, Worms) to GoldenNuggetCasino.com players in several US states.
• Kambi Group plccoreTechnology or Integration · 24 January 2022Kambi provides sportsbook services integrated into White Hat Gaming's PAM platform. WHG aggregates Kambi's sports betting technology (odds compiling, risk management, compliance) alongside its own PAM, cashier, and content aggregation. Kambi and WHG have an extremely close working relationship. MaximBet and Bally's also use Kambi + WHG together.
• MaximBet (Carousel Group)strategicTechnology or Integration · 24 January 2022Multi-year PAM agreement with MaximBet. WHG provides PAM solution, proprietary cashier, and first-to-market traveling wallet alongside Kambi's sportsbook. MaximBet planned to be live in 6 states (Colorado, Indiana, Iowa, New Jersey, Ohio, Pennsylvania) plus Canada.
• Banijay BrandscoreTechnology or Integration · 18 January 2022White Hat Studios partnered with Banijay Brands to bring Deal or No Deal slots to the US. Banijay provides the brand license; White Hat Studios develops and distributes the game content. Additional brands including Ted, Beavis and Butthead, Sausage Party, and Worms are also part of the portfolio.
• Blueprint Gaming Ltd.coreTechnology or Integration · 25 August 2021Asset purchase agreement to acquire RGS, brand, and gaming catalogue from Blueprint Gaming. White Hat Studios created to deliver Blueprint's catalogue of games (including Eye of Horus, Ted, Jackpot systems, branded slots, instant win, and table games) to US operators for the first time.
• Ezugi (Evolution Group)strategicTechnology or Integration · 1 July 2021Content distribution deal integrating Ezugi's full suite of localized and dedicated live casino titles into White Hat Gaming's network, both in existing and new focus territories. Ezugi streams from nine state-of-the-art studios around the world.
• ShuftistrategicTechnology or Integration · 1 January 2019Extended partnership (ongoing since 2019) where Shufti provides AI-powered KYC and facial biometric verification solutions to enhance compliance and secure player onboarding in regulated markets. Focuses on reducing onboarding times, fraud, and manual reviews across multiple jurisdictions.

Scale indicators5 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• EveryMatrix: EveryMatrix offers a modular iGaming platform including the GamMatrix PAM, CasinoEngine content aggregation, OddsMatrix sportsbook and managed services to tier-1 operators. Closely comparable to WHG on the full-service turnkey + PAM axis, with similar B2B SaaS economics.
• Aspire Global (now part of Aristocrat / NeoGames): Aspire Global (Pariplay, BtoBet, etc.), now part of Aristocrat's NeoGames/Interactive division, supplies turnkey iGaming platforms, PAM and aggregated content. Comparable to WHG's full-service white-label offering in regulated European and emerging markets.
• Bragg Gaming Group: Bragg Gaming (owner of ORYX Gaming and Spin Games, and now parent of Kambi) provides a B2B iGaming platform, PAM, RGS and content to regulated operators in the US, Europe and LatAm. Directly comparable to WHG on PAM, content aggregation and sportsbook enablement.
• BetConstruct: BetConstruct offers a turnkey iGaming and sportsbook platform, PAM, RNG casino, live dealer and managed services to licensed operators. Comparable to WHG on the multi-vertical, white-label platform axis, with overlapping coverage of regulated markets.
• Playtech: Playtech is a leading B2B iGaming software, platform and content provider offering its own IMS PAM, casino, sportsbook, live dealer and poker products to licensed operators globally. Direct comparable to WHG's PAM + content aggregation offering across regulated US and international markets.
• GAN (Sega Sammy Holdings): GAN (now part of Sega Sammy Holdings) provides a B2B iGaming platform, PAM and Simulated Gaming for US casino operators and B2C brands. Comparable to WHG's US casino-operator-focused PAM model, particularly for land-based operators expanding online.
• NeoGames (Aristocrat Interactive): NeoGames, acquired by Aristocrat Leisure, operates a B2B iGaming and online lottery platform serving US and international operators. Comparable to WHG on PAM/iLottery and turnkey platform delivery, with similar enterprise customer motion.
• Pragmatic Solutions: Pragmatic Solutions provides a cloud-based PAM and player engagement platform licensed to operators in regulated markets. Comparable to WHG on the modular PAM + frontend SaaS layer, particularly for emerging-market and tier-2 operators.

Broad incumbents

• Light & Wonder: Light & Wonder acquired SG Digital (formerly Scientific Games' iGaming division) and now operates a large B2B iGaming platform, PAM, RGS and content portfolio (incl. OpenGaming) serving regulated markets. Comparable to WHG as a turnkey iGaming platform provider, though L&W is a much larger public incumbent spanning land-based gaming, iGaming and iLottery.

Others

• Evolution AB: Evolution is the world's largest live casino and (via NetEnt, Red Tiger, Ezugi, Big Time Gaming) slot content provider. Comparable to WHG's White Hat Studios content division on branded and premium slots distribution; Evolution is also a content partner via Ezugi integration on WHG's platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights8 records

Customer concentration

• LinkedInlinkedin.com/company/white-hat-gaming
• Xx.com/whg_malta

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about White Hat Gaming