IGAMING LITHUANIA

Lithuania to offer special licences for online gambling

Seimas approved amendments to two Lithuanian laws – the Law on Lotteries and Gambling Tax and the Law on Gambling – initiated by the Conservative Chairman of the Budget and Finance Committee Mykolas Majauskas. The changes would allow operators apply for online gambling licenses only. Previously online gambling was allowed only to operators who offered land based gambling services. Thus online gambling brands had to cooperate with local offline operators.

74 MPs voted in favor of the amendments. Their adoption is scheduled for October or November. The ammendments provide for the new fee for all kinds of gambling licences. Licensees must pay a fee of 1m EUR on receipt of their licence and an additional payment depending on the type of licence. That payment would be 300,000 EUR  for slots, 100,000 EUR for bingo and 500,000 EUR for online gambling.

Operators that wish to apply for a licence would need to hold at least 1.2m EUR in capital in the case of casino gaming, or 289,000 EUR and 144,000 EUR in the case of online sports betting and online horse racing betting respectively.

M. Majauskas noted that after the adoption of the amendments, the budget revenue would increase by 8 million EUR.

According to the Lithuanian Gambling Commission, out of the eight companies operating online gambling, three – Top Sport, Gambling Strategic Group, and Olympic Casino Group Baltija – own 86 % of the markets. There are 201 slot machines, 133 betting points, five betting halls and 16 gambling houses (casinos) in Lithuania.

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