Evolution Gaming vs OpenBet
Side-by-side comparison of AI visibility scores, market position, and capabilities
World's #1 live casino B2B supplier; €1.045B H1 2025 revenue, 65.8% EBITDA margin. Powers live casino for FanDuel, BetMGM, and 700+ operators globally.
About
Evolution is a Swedish B2B iGaming company founded in 2006 and listed on Nasdaq Stockholm, providing live dealer casino games and RNG content to online casino operators worldwide. The company develops and operates live casino studios in 20+ countries—including major facilities in Riga (Latvia), Malta, Georgia, Romania, Canada, and the United States—streaming thousands of simultaneous live table games to casino operators globally. Key products include Live Blackjack, Live Roulette, Live Baccarat, and exclusive game shows like Crazy Time, which has become one of the most-played live casino games in history.\n\nEvolution's B2B model licenses its live casino platform to 700+ operators—including FanDuel, BetMGM, Caesars Digital, DraftKings, and virtually every major online casino brand globally—under revenue-share agreements. This asset-light licensing model generates exceptional margins. Evolution has expanded beyond live casino into RNG slots through acquisitions of NetEnt (2020) and Red Tiger Gaming, adding a portfolio of 1,000+ digital slot titles.\n\nEvolution reported H1 2025 revenue of €1.045B (+3.5% YoY), with adjusted EBITDA margin of 65.8%—among the highest in the global gaming industry. Q2 2025 revenue was €524.3M, with live casino contributing €453.7M. Evolution holds approximately 45% of the global live casino B2B market, ahead of Playtech (30%) and Pragmatic Play (25%). The company launched its first Philippines studio and a new São Paulo facility in 2025.
Sports betting software platform for tier-1 global operators, powering high-volume sportsbooks with omnichannel retail and digital capabilities for regulated markets worldwide.
About
OpenBet is one of the world's largest sports betting technology providers, with its software powering some of the highest-volume sportsbooks globally, including William Hill, Ladbrokes Coral, and Sky Bet. Originally developed in the early 1990s and later acquired by Scientific Games (now Light & Wonder), OpenBet has operated as an independent sports betting software division serving both digital and retail betting channels. The platform handles billions of transactions annually and is engineered for extreme reliability and throughput during peak sporting events.\n\nOpenBet's platform covers the full lifecycle of a sportsbook operation, from content and odds management to bet acceptance, risk management, and settlement. Its retail technology suite serves betting shops across the United Kingdom and Ireland with integrated self-service terminals, cashiering systems, and trading tools. The digital platform supports web and mobile betting experiences with a focus on in-play wagering, same-game parlay products, and personalized promotions.\n\nThe company has historically been strongest in the UK and European regulated markets where its early mover advantage established deep integrations with major operators. OpenBet has worked to expand its footprint in North America as state-by-state legalization created new opportunities for established sportsbook technology vendors. Its enterprise-grade reliability, extensive market coverage, and deep experience with regulatory compliance requirements position it as a preferred vendor for established gambling operators rather than start-up challengers.
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