Wow, what a year it's been for our company. We've had some fantastic highs and some challenging lows, but we've come out the other side even stronger and more determined than before. In this year's review, we want to share some of the most incredible things we've accomplished! From launching new products and expanding into new markets to making our operations more sustainable, we've been busy building a better future for our customers, employees, and ourselves.
So, what's the story for 2022?
The year started with a devastating war in Ukraine, which had a significant impact on the iGaming industry. BGaming united with other industry leaders, including SOFTSWISS, to support Ukraine in its time of need. The company partnered with the World Boxing Council and the Klitschko Foundation to provide financial assistance to people in Ukraine as they fought for independence and freedom. BGaming strongly believes in democratic values and stood in solidarity with Ukraine during this difficult time.
One of the most exciting things to highlight from this past year is the impressive growth we've experienced across our key metrics. Our gross gaming revenue (GGR) grew by a whopping 217%, which is a clear testament to the popularity of our products and the loyalty of our customers. The number of bets also grew x2.5, and the player count increased by 236%, showing that players are increasingly engaged and willing to play our games. This growth became possible partly through the hard work of our talented team, which has grown from 64 people at the beginning of the year to over 120 people today.
At the beginning of 2022, the studio was presented in 506 online casinos, whereas by the end of the year, the list extended to 800. Same as the previous year, a significant share of them are fast-growing crypto projects, which are in demand among players due to the growing popularity of digital currencies.
Focus on regulated markets
Another big win for us this year was getting our hands on a shiny new gaming license in Romania which has allowed us to expand our operations and offer our products to an even wider audience. We're also in the process of getting licenses in Greece, Bulgaria, Georgia and Slovakia, so watch this space!Our commitment to obtaining licenses and certifications for regulated markets is driven by our desire to provide our customers and players with the best iGaming experience possible. We carefully built our certification department to make the process of obtaining licenses and certifications as quick and straightforward as possible, and we expect that our efforts will pay off in the form of even faster and more efficient processes in the future.
Portfolio review: driven by experiments and innovation
It was a busy and successful year for our game design team, which released 30 new games, introducing a variety of innovative mechanics and features. Some highlights included releasing slots in new mechanics and features, including our first MEGAWAYS slot and cluster pays slots, in-game jackpots, collectible features, resizing reels, and instant wins.
BGaming is always striving to create new and unique experiences, and we believe that experiments and innovations are crucial to the future of video slot development. With this in mind, we released the sequel to our popular Elvis Frog slot, which features brand new TRUEWAYS mechanics that provide a fresh and exciting gaming experience. The response to Elvis Frog TRUEWAYS has been off the charts, and the slot was shortlisted for the Global Gaming Awards, the most prestigious Awards in the gaming industry. BGaming is committed to continuing to innovate and experiment in the world of iGaming, and we're excited to see what new experiences we can create in the future!
Building a community of responsible gamblers and promotion of a player-driven approach in game development
One of our goals this past year was to become a genuinely player-driven game development studio, and we're happy to say that we've made some great strides toward achieving this goal. We started building a community of players and streamers who share our passion for video slots, and we've been blown away by the response and engagement from this community!To keep the momentum going, we held two tournaments where streamers could compete for valuable prizes. Today we're thrilled to report that in 2022 our games were streamed 100 000+ minutes on Twitch, which is a clear sign that our games are getting more and more popular and recognized!
Brand Exclusives as BGaming's unique selling proposition
One of our significant achievements this year has been cracking the code for developing custom games for casino operators. In 2021 we saw a growing demand for personalized experiences and a need for uniqueness in the gaming industry, so we came up with a new way of developing games that would meet these needs.
In 2022, we've created over 70 customized games, delivering 2-3 custom games per month in collaboration with some of the biggest names in the industry, including Stake.com, PlayAmo, Roobet, Pin-up, and more. The demand from casino operators for custom games is gaining momentum, cementing BGaming's reputation as a trusted partner that helps online casinos deliver the best tailor-made experiences to their players.
Trusted partner within the iGaming industry
The industry experts have noticed our approach to business and our success as game developers, and we're proud to have been shortlisted and won several awards this year. Askgamblers recognized our Aloha King Elvis as one of the best online slots, SiGMA named our studio among the leading game providers of the year, and BGaming'sBGaming's CEO Marina Ostrovtsova was recognized for leadership by 5-star Top 20 Awards.
Aiming at providing operators with the best solutions on the market and players - with engaging smooth gameplay, our development team created an image compression algorithm that reduced the BGaming'sBGaming's game portfolio's weight by 55% and significantly improved our games loading time. This technical innovation helped some casino operators overcome VPN limitations and internet connection issues and was valued by the iGaming Idol Award and SBC Awards, which recognized BGaming for developing the image compression algorithm.In conclusion, it has been a fantastic year of colossal changes for our company, and we are grateful for the support of our customers and partners. We will continue experimenting, building a community of responsible gamblers, prioritizing outstanding customer service, and obtaining licenses and certifications in regulated markets. Our dedication to data-driven decision-making and innovation has allowed us to stand out in a competitive market, and we have exciting new games and mechanics in the 2023 pipeline. As we look toward the future, we will stay abreast of industry trends and listen to player feedback to ensure that we offer the best possible gaming experience. Thank you again for your support, and we look forward to continuing to provide the best iGaming experience in the coming year!
We've experienced significant growth across key metrics, obtained new licenses and certifications, experimented with various mechanics and features in our games, and received numerous awards and recognitions! All of these achievements are a testament to our team's hard work and dedication, and we are excited to see what the future holds as we continue to innovate and deliver the best gaming experience possible. We also extend our sincere thanks to our customers and partners for their support and for helping us achieve these successes.