Elbet
Elbet is a Serbian-founded gaming studio, licensed by Malta Gaming Authority since April 2024, producing slots, virtual games, lotteries and instant games audited by iTech Labs.
Elbet's catalogue leans toward virtual and number games alongside slots, a niche fit for players seeking licensed content beyond the largest studio names.
- Tobique Gaming Commission licence requires KYC and fund segregation
- Native Android and iOS apps built for mobile-first casino play
- 13,800+ games listed across more than 100 software providers
SpinsUp is a 2024 crypto-friendly casino licensed by the Tobique Gaming Commission, offering 13,800+ games and payouts within 72 hours.
- 9,000+ casino games
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22Bet is a multi-product gambling platform offering over 9,000 casino games alongside a full-featured sportsbook. With support for more than 90 account currencies, hundreds of payment methods, mobile apps, and regular promotions, it appeals to both casino players and sports bettors looking for flexibility and variety.
Crypto-focused casino with 12,000+ games, a mobile app, loyalty cashback, tournaments and a 17,000 USDT welcome package.
- Up to €1,000 plus 150 FS for newcomers
- Bonus funds carry zero wagering
- 15,000+ games sourced from 100+ providers
Hercules Casino is a 2026-launched, Anjouan-licensed site with 15,000+ games and a wager-free 300% welcome bonus up to €1,000+150 FS.
- Wager-free welcome package of up to 800€ total
- 13,000+ games from 100+ providers
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Merlin Casino is an Anjouan-licensed multi-provider site with 13,000+ games, wager-free bonuses, and payouts typically within 24 hours.
- Dual licence: Tobique and Anjouan
- Welcome offer worth up to €5,000 & 300 free spins
- Native Android and iOS apps
Fortune Play is a 2024 casino licensed by Tobique and Anjouan, offering a €5,000 + 300 FS welcome package and 72-hour payouts.
- Welcome offer spans 4 deposits: up to €2,500 + 150 FS
- Native iOS and Android apps
- Daily cashback reaches up to 20%
Spinjo is a 2024-launched casino offering a 425% welcome bonus and 72-hour payouts, though independent reviews flag withdrawal complaints.
- Daily, weekly and monthly cashback
- 13,400 slots from 160+ game studios
- Generous 4-deposit welcome pack
PlayMojo is a Kahnawake-licensed casino launched in 2024 with about 13,400 slots, a four-deposit welcome package, and 72-hour payout targets.
Elbet Casinos — Games, Fairness and Where to Play
Elbet is a gaming studio founded in Belgrade, Serbia, producing virtual games, slots, lotteries, sports betting content, bingo and instant games for licensed operators. The studio holds a Malta Gaming Authority B2B Critical Supply License and has its game fairness checked by iTech Labs, which gives players a documented reference point before they wager on its titles.
Who Is Elbet
Elbet was founded in 2002 in Belgrade, Serbia, according to elbet.com's company documentation (2024), and expanded into online game development with crypto and fiat currency support in 2020. The operating entity, Elbet Limited, is registered in Malta under company number C102672, per elbet.com's about-us page (2024), and the studio keeps offices in Belgrade, Bucharest, Uganda, Nigeria and Ireland, led by CEO Danko Vukovic with a team of 22-25 employees per our records.
Elbet holds a Malta Gaming Authority B2B Critical Supply License, number MGA/B2B/997/2023, issued on 8 April 2024, according to elbet.com's licensing documentation. The studio also carries registrations with the Romanian National Gambling Office under a Class 2 License, the Ministry of Finance Gaming Authority in Serbia, the Estonian Tax and Customs Board, the Kansspelautoriteit in the Netherlands and Spillemyndigheden's Certification Programme in Denmark. Readers who want to see how this compares with other operators can browse the licensed casinos hub for context.
Elbet Games and Signature Mechanics
Elbet's catalogue spans virtual games, slots, lotteries, sports betting content, bingo and instant games, according to the studio's own platform description. Per our records the studio maintains 14+ certified titles, a compact catalogue weighted toward instant number games and virtual sports rather than large-format video slots. Its four state lottery partnerships, reported by lcb.org's profile of the studio (2026), point to a supplier that works as much on the lottery and virtual-sports side of gambling as on slot floors. Players comparing supplier catalogue sizes can check the broader casino directory before deciding where a compact catalogue like Elbet's fits their preferences.
Elbet RTP, Volatility and Fairness
Elbet's virtual games portfolio pays out at RTPs ranging from 89% to 97.5%, according to btcgosu.com's documentation of the studio's number games, virtual sports and virtual casino games (2025). That figure is a return-to-player average calculated over a long run of rounds, not a promise for any single session, and the spread reflects the mix of formats in the catalogue rather than one fixed number across every title.
Random number generation across Elbet's games is tested by iTech Labs, an independent auditor named among the studio's certifications. Players who want to confirm fairness before depositing can look for the iTech Labs reference alongside a casino's own licensing information.
Elbet's reported RTP range of 89% to 97.5%, per btcgosu.com (2025), covers instant number games and virtual sports alongside casino-style titles, so the figure tied to any one game depends on which format is being played.
Where to Play Elbet Games
The casino list above this article shows current operators in our catalogue that carry Elbet content, including 22bit and Merlin Casino. Both operate under an Anjouan Gaming Authority licence, a regulator recorded in our data with no bonus or payout caps for the casinos in this selection, which puts more weight on checking each operator's own terms rather than assuming a regulator-set limit.
- Provider presence — confirm the casino's game lobby actually lists Elbet among its studios, since portfolio size varies by operator.
- Casino licence — check which regulator licenses the specific casino, not just the game supplier.
- Region availability — Elbet's served markets include Serbia, Romania, Estonia, the Netherlands and Denmark among others, but not every casino covers every region.
- Demo access — test any available free-play mode before wagering real funds.
Common Misconceptions About Elbet Games
- "Hot" or "cold" streaks — outcomes on Elbet's RNG-tested games are independent each round; no run of recent results changes the odds of the next one.
- RTP as a per-session guarantee — the 89% to 97.5% range reported by btcgosu.com is a theoretical average over a large number of rounds, not a payout owed within any short play session.
- Assuming every casino carries the full catalogue — a casino listing Elbet as a provider may offer only part of its 14+ titles per our records, so availability should be confirmed at each operator.
Verdict on Elbet Casinos
"Elbet's value sits less in large slot franchises and more in a compact, MGA-licensed catalogue of virtual and number-based games with independent RNG testing."
Elbet suits players who want licensed, audited content beyond the largest slot studios, particularly those interested in virtual sports, lotteries and instant games rather than elaborate bonus-feature slots. Players focused only on high-volatility video slots with large bonus rounds may find the catalogue narrower than studios built specifically around that format.
Gambling is entertainment, not a way to make money or fix finances. Set deposit and time limits, take regular breaks, and use self-exclusion tools if play stops feeling like fun. Licensed operators provide these tools — using them is a sign of control, not weakness. Learn more on Responsible Gambling →
Update history
- Aug 19, 2026 — Covered studio licensing, RTP range, iTech Labs audits and casinos offering Elbet games
Elbet – FAQ
Which casinos offer Elbet games?
In our catalogue, Elbet content is available at 22bit and Merlin Casino, both licensed by the Anjouan Gaming Authority; broader availability depends on each operator's own game lobby.
What RTP do Elbet games typically pay?
Elbet's virtual games portfolio pays out at RTPs ranging from 89% to 97.5%, according to btcgosu.com's documentation (2025), a theoretical average calculated over many rounds rather than a per-session figure.
Are Elbet's games audited for fairness?
Yes, Elbet's random number generation is tested by iTech Labs, an independent auditor named among the studio's certifications, and the studio also holds a Malta Gaming Authority B2B Critical Supply License issued in April 2024.
How does Elbet differ from larger slot studios?
Elbet runs a compact catalogue of 14+ titles per our records, weighted toward virtual games, number games, lotteries, sports betting and instant games rather than a large lineup of feature-heavy video slots.
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