In the year 2020, Evolution Gaming became the largest casino games studio in the world, based on market capitalization. And it isn’t just the raw statistics that show that Evolution is the top dog. The takeover of rivals Net Entertainment stunned the gambling industry – as did the brutal firing of all NetEnt’s live casino staff.
What is most incredible about this story is how fast Evolution rose up the rankings. The company only started in 2006 – a full 2 years after Facebook did.
So how did the young upstart come to become the largest studio in the gambling world, with every online casino desperate to feature Evolution’s games in their lobby? Let’s have a look at what Evolution did right over the past 14 years.
A singular focus on bringing live casino to the masses
The company’s modus operandi was initially inspired by the gambling halls of Monte Carlo, where the rich and famous played baccarat, roulette, and blackjack in an elegant setting. Evolution’s founders had the genius idea of bringing this atmosphere to customers of Mr Green casino. Of course, the advent of high-speed internet a few years before made such an ambitious goal technically possible. Evolution decided to eschew the path that most studios take of focusing on slots, and players lapped up this new elegant experience.
A live casino platform – open to all
When Evolution started off, they offered their live casino products to any online casino that would take them. This was actually an ingenious move since the casino world is dominated by new start-ups offering enticing deposit bonuses to tempt customers. Evolution’s live casino products were noticed by more and more players, who soon demanded that their other casinos would display Evolution games. Contrast this with Playtech, who arrived late to the live casino game – and when they did, bizarrely insisted on being the only live casino provider at that casino.
Constant innovation in the product line
But perhaps the chief reason why Evolution moved from being an upstart to kings of their field is their innovation in casino games. This started off with the variants of poker that customers could play against a dealer, but also expanded into a fun, low-stakes version of blackjack, as well as the recent Crazy Time game. For our money, the cleverest move of all was adding the Bet Behind feature to their straight blackjack tables. This allowed many more people to play at the blackjack tables than would otherwise be possible, maximizing efficiency and boosting the company’s bottom line.
Evolution has made a spectacular rise in the past 14 years, thanks to wise management decisions, a brilliantly daring product line, and ruthless cunning. Now the company is no longer the underdog, it will be fascinating to see if it manages to keep up this growth. There are countless ‘rise and fall’ tales from the world of business – it will be interesting to see how Evolution manages to dodge the pitfalls of being at the top of their industry.