Exhibit 21.1

Newgioco Group, Inc.

List of subsidiaries


Newgioco Group, Inc has the following subsidiaries:


Name Organized under the laws of Percentage of voting securities owned by immediate parent
Newgioco Group, Inc. Canada 100.00
Multigioco Srl Italy 100.00
Rifa Srl Italy 100.00
Ulisse GmbH Austria 100.00
Odissea Betriebsinformatik Beratung GmbH Austria 100.00
Virtual Generation Limited Malta 100.00