A Strong H1 Indicates Lithuania is MaturingPublished September 9, 2019 by Lee R
After a strong H1, Lithuania is proving to effectively develop a thriving market in a lesser known region.
The Lithuania market has turned in strong returns for H1.
Online versus Land
Lithuania Ministry of Finance figures show online gambling revenue in the regulated market rose to €17.5m (£15.9m/$19.3m) for the first six months of 2019, while revenue from land-based gaming also rose year-on-year.
The leading vertical performance online came from remote betting, which turned in a rise in gains from €8.1m to €10.4m earned by the six sports betting operators in the H1 market.
Second-best was online casino revenue, which rose from €3.8m to €6.4m in the six months to June 30, 2019, contributed from six operators offering.
As far as total spend, players in Lithuania dropped €271.7m into iGaming, jumping from last year's €255.6m for H1, for a win of €254.2m.
Land-based gambling revenue increased from €33.7m in the first six months of 2018 to €34.6m this year.
The market leader on land was Category B gambling games, which brought in €15.5m of the total revenue, up from €15.2m last year.
Table games came in on-land at €8.6m in land-based revenue, up slightly from €8.4m last year, while sports betting revenue dipped commensurately from €4.9m to €4.7m.
The €233.9m wagered on land-based gambling games in Lithuania for H1 2019 constituted an increase from €230.6m last year, for a win total of €199.4m.
As a lesser known market, Lithuania has established itself in the online gaming space, operating since 2013 with 18 total licensed holdings currently in operation in the Baltic state.
The modern online era in Lithuania was ushered in with amendments to Lithuania's gambling legislation that came into effect on January 1, 2016, calling for online applicants to have a land-based holding previously established in Lithuania.
The latest figures are part of an overall trend of continued growth in the small market, which has grown some seven percent in two years.
The country is still adapting enforcement measures, experimenting with sometimes unpopular blacklists of companies offering illegal online gambling to protect the new regulated market in Lithuania.
Outlook After H1
Positive gains such as those turned in in H1 2019 are the most significant and important harbingers of sustainability, continued growth, and social reinvestment in the regulated model of Lithuania today.