Elbet

What Elbet does

Elbet is a B2B game technology company that develops and licenses virtual games, crash games, instant win games, slot games, and virtual sports content to sports betting operators, online casino platforms, and state lotteries. Founded in Belgrade, Serbia in 2002 as a retail-focused virtual games provider, the company expanded into online games in 2020 and now supports both cryptocurrency and fiat currencies across 180+ currencies and 29+ languages. Its product portfolio is organized into four lines: CrashClicker (a proprietary thin-client interactive terminal for retail betting shops with centralized server architecture and up to 30 hours battery life), Virtual Games (Rocketman, Soaring, vFootball League, Lucky Balls), Instant Win Games (Plinko, Gold Mines, Raccoon Rush, Touchdown Rush), and Slot Games (Money Machine, Maria's Piggy Bank, Book of the Lost Continent). Technical differentiators include a Turbo Balance feature that eliminates per-bet wallet latency to enable 5 balls/sec gameplay, a provably fair hash-verification system for crash games, and an ultra-lightweight crash game (under 1MB) supporting 30+ languages and all major crypto.

Elbet monetizes through content licensing and royalties on B2B operator integrations, support for both retail (terminal-based) and online distribution, and a distinct hardware revenue stream from CrashClicker terminal sales. The go-to-market is a hybrid of direct enterprise field sales and channel-led distribution, with ownership of business development (Marko Janjić, Business Development Manager) supported by integrations with more than ten PAM and aggregation platforms including EveryMatrix, BetConstruct, SoftSwiss, Slotegrator, Bragg, Digitain, and BlueOcean Gaming. The company reports 250+ operator relationships across three continents and four state lottery partnerships (including Croatian State Lottery since 2018 and National Videolottery of Macedonia). Elbet is privately held, incorporated in Malta (Elbet Limited, C102672), with engineering R&D in Belgrade, sales presence in Cork, Ireland, and is led by founder and Managing Director Danko Vuković. The company holds an MGA Critical Gaming Supply Licence (MGA/B2B/997/2023) and 15+ additional jurisdictional RNG/certifications covering the EU, Balkans, and South Africa.

Name

Elbet

Legal name

Elbet Limited

Website

https://elbet.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

11–50 employees

Short description

Elbet is a B2B game technology company that develops virtual games, crash games, instant win games, and slot content for sports betting operators, online casinos, and state lotteries across three continents.

Ownership category

akta.pro rank

NAICS

Gambling Industries (7132), Other Gambling Industries (713290)

SIC

Services-Miscellaneous Amusement & Recreation (7990)

akta.pro primary industry

Online Casino Studios & Game Publishers (Slots, RNG, Live Dealer) (MPAEABAJ)

akta.pro secondary industries

iGaming Platform Providers (Turnkey/Casino & Sportsbook Platforms) (MPAEAKAA), Digital Lottery & iLottery Platforms (Web/App) (MPAEAFAD)

Keywords

• Virtual games software
• Crash games platform
• Online casino content
• Gaming content licensing
• Interactive betting terminals

Headquarters

HQ city

Zebbug

HQ country

Malta

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Revenue model

1. B2B Gaming Content Licensing: Elbet licenses its gaming software and content portfolio (virtual games, crash games, slots, instant win games) to sports betting and online casino operators. Operators integrate Elbet's games into their platforms, typically through API integration or white-label deployment.
2. CrashClicker Hardware Sales: Sale of CrashClicker interactive terminals to betting shop operators for retail crash game deployment. Devices operate as thin clients connected to Elbet's centralized servers.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Elbet develops and licenses B2B gaming software and content—virtual games, crash games, slot games, instant win games, and virtual sports—for sports betting and online casino operators worldwide. The company also sells the CrashClicker interactive retail terminal for multiplayer crash games deployed in betting shops. Content is delivered via API or white-label to operators across 180+ currencies and 30+ languages, with both fiat and cryptocurrency support.

Product overview

Elbet is a game content provider specializing in innovative virtual games and casino content for sports betting and online casino operators. The product portfolio consists of four interconnected product lines: (1) CrashClicker – a dedicated retail interactive terminal for multiplayer crash games with centralized server architecture; (2) Virtual Games – encompassing crash games (Rocketman, Soaring), number/lottery games (Lucky Balls, Lucky Balls Deluxe, Fast 49, Lucky Greek, Keno, Fast Balls, Lucky Ten, Lucky Color), and virtual sports (Dog Racing, Horse Racing, vFootball League, Virtual Football, Video Roulette, Texas Holden); (3) Instant Win Games – including Plinko, Touchdown Rush, Soccer Rush, Raccoon Rush, Gold Mines, and Rocketman online; and (4) Slot Games – featuring Money Machine, Maria's Piggy Bank, Dragon's Path to Riches, Book of the Lost Continent, and more. Founded in Belgrade, Serbia in 2002, the company expanded to online games in 2020 and now supports both cryptocurrency and fiat currencies. Elbet partners with over 250 operators globally and holds MGA B2B licensing.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Over 250 operators across three continents
• +2 more outcomes

Named customers6 records

Segments3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• GR8 TechcoreTechnology or Integration · 1 January 2026GR8 Tech successfully activated Elbet's slot and instant-win games on the Mojabet platforms across Senegal, Zambia, DRC, and Nigeria. This strategic partnership delivers a faster, more stable, and content-rich online casino experience, fully powered by GR8 Tech's advanced PAM technology.
• MojabetcoreChannel Partner/ Reseller/ Distributor · 1 January 2026Mojabet platforms across Senegal, Zambia, DRC, and Nigeria now offer Elbet's slot and instant-win games through GR8 Tech's PAM integration.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Others

• Slotegrator: Slotegrator is an aggregator/distribution platform that integrates hundreds of game studios (including Elbet) into operator platforms. While not a direct competitor, it is an adjacent ecosystem participant and listed integration partner of Elbet, shaping distribution economics.

Direct peers

• Hacksaw Gaming: Hacksaw Gaming is a closely comparable peer producing slots and instant-win games (including crash-style titles) for online casino operators. Its product focus on fast, mobile-first instant-win games is the closest direct analogue to Elbet's Soaring, Plinko, and Rocketman portfolio.
• BetGames: BetGames provides live-dealer and fixed-odds games for sportsbook and casino operators, competing for the same retail and online operator integrations. Its hybrid live/instant-win model overlaps with Elbet's mixed virtual and instant-win positioning.
• Kiron Interactive: Kiron Interactive is a direct peer specializing in virtual sports and numbers games for sportsbook operators and lotteries. It competes directly with Elbet's virtual sports and number games portfolio (Fast 49, Lucky Balls, vFootball League) for the same operator customers.
• Golden Race: Golden Race is a direct peer specializing in virtual sports and betting solutions for retail and online operators. Its virtual football and number games portfolio competes head-to-head with Elbet's vFootball League and Fast 49 / Lucky Balls products.
• Inspired Entertainment: Inspired Entertainment is a direct peer providing virtual sports, lottery, and gaming content to operators and lotteries globally. Like Elbet, it serves both online casino/sportsbook operators and state lotteries, with comparable virtual games/sports product lines.

Broad incumbents

• Evolution Gaming: Evolution is the dominant live-dealer and slot provider in iGaming. As a broad incumbent, it competes with Elbet for operator wallet share and could expand further into crash/instant-win mechanics that overlap with Elbet's portfolio.
• Play'n GO: Play'n GO is a leading slot game studio with broad operator distribution. It competes in Elbet's slot games category and shares the same integration-partner channels (EveryMatrix, BetConstruct, SoftSwiss).
• Pragmatic Play: Pragmatic Play is a major iGaming content provider offering slots, live casino, and virtual sports. It is a much larger incumbent competing across Elbet's slot and instant-win categories and bidding for the same operator integration slots.

Emerging players

• 1X2 Network (Iron Dog Studio / 1X2gaming): 1X2 Network is an emerging content provider offering slots, virtual sports, and fixed-odds games. It serves similar operator tiers and integrates through comparable PAM platforms, partially overlapping with Elbet's portfolio.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/ElbetGames
• LinkedInlinkedin.com/company/elbet

Compliance22 records

Revenue estimate

Valuation estimate

Number of profiles

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 Elbet