CryptoLogic was founded in 1995 by brothers Mark and Andrew Rivkin in their parents’ basement. The pair had developed a method for securely processing online transactions, and they were searching for a way to promote and test their system in the early days of the Internet.
The company launched InterCasino the following year, and it became the first casino powered by CryptoLogic, as well as the first to accept an online cash wager. Exponential growth would follow, with the company eventually relocating to Dublin, Ireland and securing deals with such notable names as William Hill. They also made history in 1998 by becoming the first casino software developer to offer multi-player games.
The company continued to expand into the late 1990s and the new millennium. Cryptologic was listed on the Toronto Stock Exchange in 1998, the NASDAQ in 2000, and eventually the London Stock Exchange in 2003. During a five-year period culminating in 2007, the total market value of their shares increased from less than $100 million to over $400 million.
The passage of the UIGEA and the withdrawal from the U.S. market was a significant blow to the company, and it effectively killed their bid to be a player in the world of online poker. Despite a period of restructuring, the stock prices of Cryptologic failed to rise to the levels initially hoped for.
In 2012, the company was acquired by the Amaya Gaming Group in a $35.8 million takeover. The headquarters were relocated to Toronto, while subsidiaries such as WagerLogic were sold off. Following this purchase, the downloadable style of their software was abandoned in favor of the more convenient Flash option.
Three years later, Cryptologic was once again sold. This time the buyer was NYX Gaming Group Limited, and their deal included both Amaya Inc. and Cryptologic for a total of $150 million in Canadian money.
Casinos with Cryptologic Software
Since they’re considered among the finest casino software developers around, it’s no surprise that a number of the leading gaming operators turn to Cryptologic to power their sites. This list of clients includes such top-rated virtual gaming establishments as Betsafe, Guts, InterCasino, and Paddy Power. Unfortunately, none of Cryptologic’s clients accept American players, a policy that’s been in place since the passage of the Unlawful Internet Gambling Enforcement Act.
Casino Game Selection
Cryptologic has been in business for a long time, and they’re constantly adjusting their selection of games to best meet the needs of their customers. Some critics have argued that games (especially slots) are allowed to stick around too long in certain cases, but this has done nothing to diminish the enthusiasm of players.
At last count, the typical Cryptologic suite of casino games boasted more than 200 titles. This includes seven types of blackjack (including multi-player), three types of roulette, craps, Sic Bo, solitaire, and many more. One of the best options for profit-minded players is single-deck blackjack, which offers a theoretical return of 99.79%.
Cryptologic offers some respectable payouts to customers, often in the form of jackpots. These top prizes are usually available on slot machines, but games such as video poker also include them.
According to one site that monitors aggregate jackpot information, Cryptologic has paid out 10,292 jackpots since December of 2009. This has resulted in payouts of $54,369,528, which doesn’t include the thousands of normal wins achieved by players.
In case you’re curious about the upper limits of the winnings from Cryptologic, I’ve listed their all-time top progressive jackpot payouts below. While these amounts are enough to tempt anyone, keep in mind that such massive payouts don’t come along very often. And even when they do, your odds of winning are small (to say the least).
- Millionaire’s Club slot paid $6,680,060.59 at InterCasino on May 2007.
- Millionaire’s Club slot paid $3,781,780.73 at Sky Vegas on June 2011.
- Millionaire’s Club slot paid $3,246,894.51 at Jaxx Casino on May 2013.
- Millionaire’s Club slot paid $2,389,495 on December 2015.
- Millionaire’s Club slot paid $1,982,782.18 at Sky Vegas on July 2014.
You may have noticed a pattern in the above list. That’s because all five of Cryptologic’s top payouts have come from the Millionaire’s Club slot machine. There’s no reason to expect that to change in the near future, either, as jackpots for this progressive slot award players with an average of $2,229,693 every 25 weeks and three days.
Customers have come to expect a certain number of slots based on movies and TV shows, and Cryptologic doesn’t disappoint in this area. Whether you’re into video games such as Call of Duty or movies from Universal Studios, you should find a range of games depicting your favorite fictional characters. The company used to handle Marvel slot machine adaptations, as well, but this ended when Disney bought the comic book giant.
Return to Player
The return to player is a percentage expressing the amount of money the player can expect to get back from their wager. If a game has a 97% RTP, then the gambler (over the long term) should expect to win back $97 for every $100 wagered.
If you’re like most slot fanatics, you’re constantly searching for machines with the best rate of return. Unfortunately, these can be adjusted by the casino, which means a game might be profitable at one location and a money pit at another.
In general, here are some of the games with the highest return percentages: Noughty Crosses (96%), Just Vegas (96.5%), Rags to Riches (98%), and Batman (95.4%). While these numbers are okay, I’ve found that several competing software providers offer slots with higher overall paybacks.
Since you’ll obviously want to avoid the stingiest machines, here’s a brief list of the Cryptologic slots with the lowest return percentages: Enchanted Beans (93.9%), Fantasy Realm (93.9%), Lucky Lager (93%), King Kong (91.4%), and Wonder Woman (92.8%).
While some of the games from Cryptologic are getting long in the tooth, it remains one of the leading providers of online casino options. The payback percentages for their slots could stand to be higher, but at least their impeccable list of licenses assures customers of prompt and full payouts. The next time you’re putting together a list of potential gambling destinations, make sure a few Cryptologic casinos are included (unless you’re a resident of the United States).