Gambling related articles
An
Amateur's guide to Gambling in Latvia in 2021
From
Roberts Belickis.
December 2020.
Latvia’s booming gambling industry was formed in
1990 soon after the country’s independence from Soviet
rule. However, the industry was mainly unregulated
during its nascent years and the lack of state control
meant development was slow.
Fast forward three decades and the Latvian gambling
market generates over €146.5 million annually. According
to the official figures posted by the Lotteries and
Gambling Supervisory Inspection, online gambling generated
nearly €25.4 million in 2019 while another €18 million
arrived from brick-and-mortar casinos. Table games
posted an additional €8 million in revenue during
the year. Considering the fact that this revenue does
not include Latvian
bookmakers, the market is pretty huge overall.
As of 2019, Latvia operates over 8,643 slot machines
across 308 gaming halls and five casinos, 46 card
tables, and 15 roulette tables. And while the figures
might not sound like much to most, it’s a fair deal
when you consider that the industry did not exist
barely thirty years ago.
According to the Latvian Gambling and Lotteries Law,
gambling events cannot be hosted in residential buildings,
medical centers, churches, educational or credit institutions,
and other cultural establishments. Gambling is only
allowed in casinos, bingo halls, gambling parlors,
and betting offices.
Rules and Regulations When Gambling in Latvia
The industry is heavily regulated and the list of
licensed properties can be found on the official website
of the Lotteries and Gambling Supervisory Inspection.
The law further dictates the regulations that the
casinos need to abide by and the maximum number of
games allowed on the floor.
1. Casinos
Casinos in Latvia have the right to issue independent
rules for their patrons and process personal information.
While indoor and outdoor gaming areas are constantly
kept under video surveillance. Other surveillance
areas include the entrance, gaming tables, reception,
and the cash desk.
Entry is restricted to 18-year-olds and above and
a valid government-issued ID is mandated by law. The
credentials are logged during every visit and the
information includes the patron’s name, address, personal
identity number, and the date and time of visit.
Payouts are heavily regulated at the casino. While
winnings up to €720 are paid out immediately, amounts
between €721 and €14,300 take up to 24 hours to credit.
Winnings over €14,301 are paid out within 30 days
in cash or wire transfer in two phases. Latvian casinos
do not offer loans or extend credit facilities to
the guests.
2. Slot Halls
According to law, slot halls can have up to 20 video
slot machines. Unlike other parts of the world, slot
machines can only be installed at registered establishments
and not at public places including the subway, mall,
cafes, or similar places of mass gathering.
According to the Lotteries and Gambling Supervisory
Inspection, land-based slot machines continue to generate
the maximum revenue and earnings from the same during
2019 stands at €111.5 million.
There are over 250 slot halls throughout the country
and they offer an eclectic mix of games from traditional
fruit machines to the very best of modern video slots.
These establishments often double up as sports bars
and promote sports betting.
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