Hacksaw Gaming Casino Software and Games Guide
The Malta studio behind Wanted Dead or a Wild
Introduction to Hacksaw Gaming
Hacksaw Gaming is a game studio based in Malta. It makes high-volatility video slots, digital scratch cards and instant win games. The studio launched in 2018. Since then, it has grown from a small scratch card maker into a listed company.
Hacksaw is best known for Wanted Dead or a Wild, Chaos Crew and the Le series. Its games look bold and simple. They also play fast on a phone. In addition, many of them offer very large maximum wins.
In this guide, we cover the studio’s history, ownership, licences and best-known slots. We also explain what high volatility means for your bankroll.
Hacksaw Gaming at a Glance
| Company | Hacksaw Gaming, part of Hacksaw AB |
| Founded | 2018 |
| Headquarters | Malta, with offices in Stockholm |
| Co-founders | Marcus Cordes and Kamil Guclu |
| Stock listing | Nasdaq Stockholm, ticker HACK, since June 2025 |
| Game types | Video slots, scratch cards and instant win games |
| Portfolio | 320 games by March 2026, including third-party studios on its platform |
| Licences | Malta, UK, Sweden, Romania, Greece, Denmark, Isle of Man, Ontario and several US states |
| Signature slot | Wanted Dead or a Wild |
| Platforms | Desktop and mobile, with a mobile-first design |
How Did Hacksaw Gaming Begin?
Hacksaw was founded in Malta in 2018. The founders came from lottery and social casino backgrounds. At first, the studio focused on digital scratch cards. It built them for phones, with fast loading and simple controls.
That focus mattered. Operators wanted scratch cards that looked as good as modern slots. Hacksaw filled the gap. Soon after, it moved into slots as well.
The studio’s style stayed minimal. Flat art, strong characters and clear rules became its trademark. Behind that simple look sit aggressive maths models. As a result, many games swing between long quiet spells and huge wins.
Key Milestones
| Year | Milestone |
|---|---|
| 2018 | Hacksaw Gaming is founded in Malta and starts with scratch cards |
| 2021 | Wanted Dead or a Wild launches in September and becomes the studio’s breakout slot |
| 2023 | Chaos Crew 2 wins Best Sequel Slot at the Kongebonus Awards |
| June 2025 | Hacksaw lists on Nasdaq Stockholm under the ticker HACK |
| March 2026 | Wins a Connecticut licence, its fifth US iGaming licence |
| July 2026 | Registers in Alberta ahead of the province’s market opening |
Who Owns Hacksaw Gaming?
Hacksaw AB owns the studio. The parent company floated on Nasdaq Stockholm on 25 June 2025. The offer valued it at roughly €2 billion. Its Maltese arm, HGMT Ltd, holds the main licences.
Marcus Cordes is the operational CEO. Hacksaw also runs a platform that lets other studios publish games through it. In 2026, it invested in a partner studio called Jinx Gaming.
Hacksaw Gaming Slots and Games
What Type of Slots Does Hacksaw Make?
Hacksaw slots are built for big swings. Most have high or very high volatility. They often use cascading wins, multipliers and bonus buy. Grids range from classic 5×5 layouts to 6×6 cluster boards.
The studio also creates its own mechanics. For example, DuelReels debuted in Wanted Dead or a Wild. In that game, VS symbols can cover whole reels and carry multipliers.
Popular Hacksaw Slots
| Slot | RTP | Max win |
|---|---|---|
| Wanted Dead or a Wild | 96.38% | 12,500x |
| Chaos Crew | 96.3% | 10,000x |
| Chaos Crew 2 | 96% | 20,000x |
| Chaos Crew 3 | 96.18% | 30,000x |
| Le Bandit | 96.34% | 10,000x |
| Fire My Laser | 96.31% | 15,000x |
| Hand of Anubis | 96.24% | 10,000x |
Wanted Dead or a Wild is the most popular. It uses a 5×5 grid with 15 fixed paylines. Its bleak Wild West look made it stand out. Chaos Crew followed with a punk graffiti theme and cascading reels.
The Le series is another hit. Le Bandit is a 6×5 cluster pays slot with medium volatility. Its sequels include Le King, Le Fisherman and Le Pharaoh. Streamers love them.
Hacksaw Slots at JumboBet
Hacksaw is one of the biggest suppliers at JumboBet. Reviewers count about 244 Hacksaw games there. Read our JumboBet review to see how it compares.
Scratch Cards and Instant Win Games
Scratch cards are where Hacksaw began. They remain a core part of its catalogue. Each card reveals its result straight away. No reels or bonus rounds get in the way.
The studio also makes instant win titles under the Dare2Win name. These include Plinko, Dice, Hi-Lo, Wheel and Speed Crash. Plinko lists a 99% RTP and a 3,840x maximum win. These games suit quick sessions. However, fast rounds can use up a balance quickly.
Hacksaw Features Explained
Hacksaw slots share a few signature features. Knowing them makes any new release easier to follow.
- Cascading wins: winning symbols vanish and new ones drop in. One spin can pay several times.
- Multipliers: wilds and special symbols can raise a win. VS symbols in Wanted Dead or a Wild carry multipliers up to 100x.
- Progress meters: some games fill a meter as you play. Wanted Dead or a Wild uses one to unlock bigger free spins.
- Bonus buy: you pay a set price to jump straight into the bonus round.
Each feature changes the risk. For instance, bonus buy costs many times your normal stake. As a result, check the price before you use it.
Hacksaw Behind the Scenes
Hacksaw runs as a B2B technology platform. It builds games, then distributes them to casinos through one integration. Other studios can also publish games on the same platform.
The numbers show how fast it has grown. By the end of March 2026, its portfolio held 320 games. In that quarter alone, it launched 12 in-house games and 15 from third-party studios. It also signed 79 deals, including 59 with new clients.
New clients included bet365 in Pennsylvania, William Hill in Italy and Delaware North in West Virginia. Revenue for the quarter reached about €57.6 million, up 28% on the year before.
Understanding RTP and Volatility
RTP means return to player. A 96% RTP means a game pays back 96 units for every 100 staked over a very long run. It does not predict a single session.
Most Hacksaw slots sit close to 96%. That is a normal figure for the industry. Some casinos offer a lower RTP version, so check the game info menu.
Volatility matters more for Hacksaw. High volatility means rare but big wins. You may go many spins with little return. Therefore, use small stakes and set a strict budget.
A 12,500x or 30,000x maximum win is a ceiling, not a target. Most sessions never come close.
Licensing and Safety
Hacksaw holds a licence from the Malta Gaming Authority and the UK Gambling Commission. It also reports approvals in Sweden, Romania, Greece, Denmark, the Isle of Man and Ontario. In the US, it is licensed in New Jersey, Michigan, Pennsylvania, West Virginia and Connecticut.
The Swedish Gambling Authority approval adds to that list. Our guide to gambling licences explains how these regulators compare.
A studio licence only covers the games. Hacksaw does not run casinos or hold player funds. Therefore, check that the casino itself is licensed. Our casino safety guide can help.
Can You Play Hacksaw Games on Mobile?
Yes. Hacksaw designs for phones first. Its games load fast and suit portrait play. You can also play on desktop and tablet. No download is needed. Most casinos offer a free demo, so you can learn the features first.
Where to Play Hacksaw Games
Hacksaw games appear at a very wide range of online casinos. Reports say more than 3,000 operators carry them. The casinos listed on this page all offer Hacksaw titles.
You can also compare other high-volatility studios. NoLimit City and Pragmatic Play are good places to start. Our software providers page lists many more.
Tips for Playing Hacksaw Games
- Try the free demo first, if available.
- Use small stakes on high-volatility slots.
- Check the RTP version in the game info menu.
- Treat bonus buy as an optional extra, not a shortcut.
- Set a deposit limit, and stop when it is gone.
Hacksaw Gaming Pros and Cons
Pros
- Bold, memorable game design
- Strong mobile performance
- Huge maximum wins on many slots
- Wide licence coverage
- Scratch cards and instant win games as well as slots
Cons
- Very high volatility on many slots
- Long dry spells are common
- Bonus buy can raise the cost of play
- Maximum wins are rare
Hacksaw Gaming FAQs
Who owns Hacksaw Gaming?
Hacksaw AB owns it. The company is listed on Nasdaq Stockholm under the ticker HACK.
Where is Hacksaw Gaming based?
The studio is based in Malta. Its parent company also has offices in Stockholm.
What is Hacksaw Gaming’s most popular slot?
Wanted Dead or a Wild is the most popular. Chaos Crew and Le Bandit are also big favourites.
Is Hacksaw Gaming licensed?
Yes. It holds licences from the Malta Gaming Authority and the UK Gambling Commission, plus several others.
Does Hacksaw make scratch cards?
Yes. Scratch cards were its first products. It also makes instant win games such as Plinko.
Are Hacksaw slots high volatility?
Most are. Expect long quiet spells and occasional big wins.
Our Verdict
Hacksaw Gaming is a top pick for players who like bold design and big win potential. Its slots are quick, clear and strong on mobile. However, the high volatility means you should budget with care.
Gambling is for adults aged 18 and over. Please play responsibly and set limits.
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