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Online casinos brought €1.8 million to the budget of Latvia in 2016

Online casinos brought €1.8 million to the budget of Latvia in 2016

Online casinos brought €1.8 million to the budget of Latvia in 2016

05 July 2017

Last year Latvian online casinos earned over €18 million and transferred 10% of the revenue to the budget as taxes. Statistics shows that Latvian gamblers prefer playing online and choose licensed operators.

According to Signe Birne, Director of Lotteries and Gambling Supervisory Inspection, seven licensed online casinos operate in the country now. Authorities fight against those beyond the legal framework: over 800 websites have been blocked since August of 2014.

In addition, Latvia is home to six land-based casinos, 320 facilities with slot machines, and 57 totes. In 2016, the number of outlets decreased, but the flow of gamblers got more intense. Signe Birne explains it with the fact that the wellbeing of Latvian citizens has improved.

According to the politician, in 2016 the revenues of virtual casinos grew by €13 million as compared with 2014. Visitors of virtual casinos mainly prefer legal websites, where they can feel safe. The number of visitors in gambling halls also increased.

Land-based gambling is going through tough time in Latvia: despite some raise of customer interest, the number of casinos is decreasing. However, the online segment is growing successfully. This Baltic country is a leader in the field of live dealer online casinos.

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