Casting wheel for continuous casting of metal, including a casting groove for the metal along its periphery, for supply of metal melt while the wheel rotates in a vertical plane, said wheel cooperating with an endless belt that runs together with the wheel during a part of the rotation of the wheel and covers the groove while forming a casting chamber. The wheel comprises two wheel rings mounted for rotation about axes that are set at an angle between each other, whereby the width of the groove varies during rotation of the wheel. The wheel rings defines a first groove wall and the groove bottom, while the other wheel ring defines the other groove wall, which moves axially relatively to the first groove wall, along the groove bottom.