Latvian Online Gambling Market Worth Millions Of Euros

LATVIAN ONLINE GAMBLING MARKET WORTH MILLIONS OF EUROS

16th September, 2011 at 16:51:15
Source: http://www.azonlinecasinos.com

Association stresses the need for change to current legislation

Latvia 's unlicenced online gambling market was worth Euro 17.4 million in 2010 according to a spokesman from the Latvian Gaming Business Association (LGBA).

According to The Vostok Report, in an interview with business information service provider Nozare.lv, Arnis MarcinkÄ‛viÄЌs from the LGBA disclosed the statistical data for payments made to online gambling sites by the residents of Latvia. The data was derived from casino and gambling codes applied to the payments.

The Latvian Lotteries and Gambling Supervisory Inspection and the Ministry of Finance have reportedly drafted proposed changes to introduce an online gambling licencing regime in 2012.

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