Latvia Implements Revamped Regulation System, to National GainPublished April 8, 2020 by Lee R
The emerging market of Latvia is doing all the right things so far.
Latvia has turned in a nice double figure jump in GGR for 2019.
The number for GGR in 2019 from Latvian gambling regulator the Lotteries and Gambling Supervisory Inspection (IAUI) is a 10.5% year-on-year increase driven in large part by the growth of the country's iGaming sector.
GGR total for the 12 months through December 31st is €307.1m (£267.7m/$342.1m) was up from 2018's €277.7m.
IAUI reported year-on-year growth across the board individually, with gaming machine revenue the leading source of income for licensed operators, jumping 6.7% to €216.9m.
Online gambling revenue rose significantly, at a 2.8% clip to €54.7m.
Latvian players spent the most on casino games; while online slot games, cards and roulette revenue rose 42.5% to €39.3m; sports betting revenue jumped 12.3% to €14.9m; and poker tournaments 60.8% to €423,000.
Land-based gaming tables rose 4.% to €17.3m; in-person sports betting revenue climbed 16.8% to €3.2m; and bingo halls revenue jumped 8.2% to €232,000.
Figures further reveal that revenue from additional activities including bars and billiards brought in another €17.3m in revenue, bringing the 2019 total for overall turnover from licensed operators to €324.4m.
As far as blocking, IAUI reported 68 sites and 87 IP addresses were blocked. This brings the total of illegal operators blocked since the IAUI began tackling illegal operators in August 2014 to 1,206 domains and 2,478 IP addresses.
This was also the first year for Latvia's new self-exclusion system, launched by IAUI January 1, 2019.
Some data from the self-exclusion system, mixed with some proactive measures to enhance protections against the vulnerable population of problem gamblers that remains embedded in every gaming segment, would be additional adjustments that could give Latvia a foothold as a viable regulation leader in the collective EU community.