BGaming is a Malta-based games studio with a broad multi-format catalogue spanning slots, crash, table and casual games. It is best known in the crash world for Space XY and Aviamasters, and in the wider industry as one of the first B2B suppliers to put provably fair verification into casino games.
If you have played a crypto casino in the last few years, you have almost certainly played a BGaming game without noticing the logo. The studio sits in the background as a content supplier, licensing its games to the operators you actually log into. That makes it one of the more important names in the crash and instant space, even though it is not a crash specialist in the way Spribe or SmartSoft are.
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This profile covers the company behind the brand, the full game catalogue, the licensing footprint, and the one detail that makes BGaming genuinely interesting: it helped pioneer provably fair technology, then chose not to apply it to its biggest crash game.
The 30-second version
BGaming is a broad-portfolio Malta studio (Malta Gaming Authority licensed) that spun out of SOFTSWISS in 2018. Its crash games all share one RTP and its Plinko family sits higher. It pioneered provably fair verification but applies it selectively, so some titles are verifiable and some, including the flagship Space XY, are certified-RNG only.
🏢 Who BGaming is
BGaming is the trading name of Stable Games Ltd, a company registered at 206 Wisely House, Old Bakery Street, Valletta VLT 1451, Malta. It holds Malta Gaming Authority licence MGA/B2B/785/2020, a B2B Critical Supply Licence covering Type 1 gaming services for the casino vertical, issued on 18 March 2021. That entry is confirmed directly on the MGA public register, which matters because the licence is the studio’s anchor of credibility rather than a marketing claim.
The brand is operationally independent but not unconnected. Its founder and key shareholder is Ivan Montik, who also founded SOFTSWISS, the platform and aggregator group that BGaming grew out of. CEO Marina Ostrovtsova has described BGaming as always meant to be its own thing, a separate company with its own plans, and the accurate framing is exactly that: an independent studio that remains tied to Montik and the wider SOFTSWISS orbit.
📝 For the record: Some non-authoritative blogs raise questions about the ownership structure of the broader SOFTSWISS group. Those claims are unverified, relate to SOFTSWISS rather than to BGaming directly, and have nothing to do with any regulatory action against the studio.
Marina Ostrovtsova has run the company as CEO since July 2022, having joined as an executive director in 2018, and was named Leader of the Year at the SBC Awards in 2024. The product side is led by CPO Yulia Aliakseyeva. The team is headquartered in Valletta with a Belarusian engineering heritage inherited from SOFTSWISS, and has grown from roughly 200 staff at the end of 2023 toward around 270 in 2025 on the company’s own figures.
🔍 From SoftSwiss studio to standalone brand
BGaming did not start as a separate company. It began as the in-house games studio of SOFTSWISS, with development tracing back to 2012, and only became its own brand six years later. The timeline below marks the moments that shaped what the studio is today.
In-house at SOFTSWISS
Game development begins inside SOFTSWISS as the group’s proprietary content studio, years before the BGaming name exists.
Feb
The spin-out
The studio becomes the standalone BGaming brand, lands its 1xBet integration and is showcased at ICE Totally Gaming 2018 in London.
Plinko arrives
The original Plinko launches at 99% RTP with provably fair verification, seeding what becomes a multi-title family.
Jan
First crash game
Space XY launches on 13 January 2022 as BGaming’s first crash title, with Marina Ostrovtsova stepping up to CEO that July.
Jul
The Aviamasters breakout
Aviamasters becomes a viral hit, followed by Dragon’s Crash and Top Eagle, then an Aviamasters 2 sequel and fresh national licences in 2025.
🎮 The BGaming catalogue
BGaming claims a catalogue of more than 250 products, while independent trackers put the verifiable count lower, in the region of 150 to 225 titles. SlotCatalog, for example, records over 225 games released including more than 175 video slots. The gap reflects branded variants and regional editions that BGaming counts but trackers deduplicate, so treat the company’s number as a ceiling and 150 to 225 as the independently observed range.
The portfolio spans video slots, crash and instant games, table games, casual titles and scratch cards. Its best-known slots include Elvis Frog in Vegas, Aloha King Elvis, Bonanza Billion (its first cascade slot), Aztec Magic Deluxe and the celebrity-themed Snoop Dogg Dollars, and it runs proprietary mechanics including MergeUp and the Megaways-style TRUEWAYS engine with up to 262,144 ways. For crash players, though, two pockets of the catalogue matter most.
Crash and instant games
Every genuine BGaming crash game runs at 97% RTP. That consistency is worth stating plainly, because it sits behind a common myth dealt with below. Space XY remains the flagship, but Aviamasters has been the studio’s real growth story.
Alongside these sit a cluster of instant and casual titles that borrow the same XY styling without being true rising-multiplier crash games: Limbo XY, Heads and Tails XY (a 50/50 coin flip), Rocket Dice XY, Minesweeper XY and Dice Clash. They are worth knowing about because the XY suffix gets used loosely, and not every XY game is a crash game.
🔍 Worth noting
You will see a “BGaming Crash” listed at 99% RTP and a 1,000,000x maximum on some affiliate pages. That is wrong. Those specifications belong to casino-original games run by platforms like Stake and BC.Game, not to BGaming, and the affiliate site that first spread the figure has since retracted it. There is no BGaming game simply called Crash, and every real BGaming crash title runs at 97%.
The Plinko family
BGaming also runs a whole family of Plinko games, all clustered around 99% RTP. These are best understood as one core engine, the same ball drop through pegs with 8 to 16 selectable lines and three risk levels, dressed in different themes with incremental feature layers added over time.
One quirk is worth flagging: BGaming’s own marketing pages are inconsistent about which Plinko versions are provably fair. The original Plinko page claims provably fair verification, while the Plinko 2, Plinko XY and Easter Plinko pages describe certified RNG only. So the fairness column above should be checked at the point of play rather than assumed across the whole family. For a multi-studio breakdown of how Plinko works and how the different makers compare, see our Plinko guide.
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🛡️ The provably fair story
BGaming’s strongest claim to a place in iGaming history is provably fair. The studio describes itself as the first major iGaming provider to offer a provably fair feature and the first slot developer to bring it into casino content. The absolute “first ever” superlative comes from BGaming itself and cannot be independently adjudicated, but the broader point, that BGaming was an early B2B pioneer of the technology, is widely accepted and consistent with its crypto-casino heritage.
📖 Definition
BGaming’s model calculates a round’s result before you bet, generates a random secret string, then hashes the result and secret together with SHA-256 and shows you the hash up front. You can set your own client seed. After the round you receive the result, secret, client seed and hash, and can re-run the SHA-256 calculation yourself to confirm the outcome was sealed before play began.
The genuinely interesting part is that BGaming applies its own innovation selectively. Provably fair verification is confirmed on titles such as Dragon’s Crash, Top Eagle, Heads and Tails XY, the original Plinko and many table games and slots. It is absent from others, including Plinko 2, Plinko XY and, most notably, the flagship Space XY.
“BGaming helped invent provably fair, then left it off its biggest crash game.”
🔍 Worth noting
Space XY is regularly mislabelled as provably fair. It is not. It runs on iTech Labs-certified RNG only, which confirms the randomness is genuine but means you cannot independently verify an individual crash round the way you can on a true provably fair title. BGaming gives no public reason for the exception. The likeliest explanation is that provably fair began as a crypto-facing trust feature applied where operators value it, rather than as a universal standard.
For the full breakdown of Space XY’s mechanics and its fairness classification, see our dedicated Space XY guide. For how provably fair verification works in general across all studios, see our provably fair explainer.
📊 Licensing and regulation
BGaming’s regulated footprint is built on Malta, with the Malta Gaming Authority B2B Critical Supply Licence MGA/B2B/785/2020 as its anchor, confirmed on the MGA register. On top of that, the studio has steadily added national-market approvals, which is what lets its games appear in regulated jurisdictions rather than crypto casinos alone.
- Malta (MGA). MGA/B2B/785/2020, issued 18 March 2021, verified on the public register.
- National markets. Curacao, Greece (December 2021), Romania (2022), Sweden (2025), Italy (GLI-certified March 2025), Spain, Brazil (2025), Peru (November 2024) and Colombia, with further market entries reported across the Netherlands, South Africa, Belgium, Estonia, Germany and Mexico.
- Testing and standards. RNG evaluated by iTech Labs and BMM Testlabs, market certifications via GLI and Gaming Associates, and ISO/IEC 27001:2013 certification.
- Not UK-licensed. BGaming holds no UK Gambling Commission B2B licence. A Denmark licence has not been confirmed as granted and should be treated as unconfirmed.
No regulatory fines or sanctions against Stable Games were found in the public record. That is an absence of evidence rather than an audited all-clear, but it is consistent with a studio that leads with its MGA standing.
📈 Market position
BGaming is best understood as a broad-portfolio studio rather than a crash specialist. In the crash vertical specifically, it competes with dedicated names like Spribe, SmartSoft Gaming and Pragmatic Play, and there its flagship Space XY is respected but sits well behind the leaders on reach. The scale gap is stark: Spribe’s Aviator is reported to serve tens of millions of monthly active users and to process hundreds of thousands of bets per minute, a footprint no single BGaming crash title approaches.
Where BGaming has genuinely broken through in crash is Aviamasters, the arcade LAND hybrid that became a viral success and gained visible share in markets such as Ghana through 2025. The studio’s wider differentiators are crypto-friendliness, its provably fair heritage, consistently high RTPs, a strong visual identity through street-artist collaborations, and a streamer-focused data partnership. Independent trackers place its games in somewhere between 1,100 and 1,600 casinos, against a company-claimed reach of more than 3,000.
It is a decorated studio: Best Game Studio at the SiGMA Europe Awards 2024, Best Gaming Experience at BiS SiGMA Americas 2025 and Best Exclusive Game Partnership at the SBC Awards Europe 2025, among nine industry awards in 2025. The company also reports strong commercial growth for the year, with figures such as a 42% rise in gross gaming revenue, though those numbers are company-claimed rather than independently audited.
The same fast, frequent, crypto-friendly play that drives crash and instant games has drawn rising scrutiny over player harm. We cover the research evidence, the risk factors and what regulators are doing in a dedicated guide: crash gambling and player harm.
The bottom line on BGaming is that it is a serious, well-licensed studio with a genuine claim to a place in the history of provably fair gaming, and a portfolio far wider than its crash output. The honest caveat for a crash player is the one running through this profile: the studio’s headline crash game does not carry the verification feature the studio is famous for, so know which BGaming title you are playing before you treat “provably fair” as a given.