Lithuania is bordered by Latvia in the north, Belarus in the east, Poland in the south. On the 11th of March of the year 1990 the country of Lithuania proclaimed its independence from the Soviet Union. Lithuania is among the countries that embrace gambling as a form of entertainment. The trends in the legislation and the abundant sport culture make the Lithuanian gambling market specific. This blog post will take you through some of the information on the history of betting, laws, and regulating authorities, together with the top betting sites in Lithuania.
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Table of Contents
Summary of Key Events
History of Gambling Laws in Lithuania
The gambling business in Lithuania has significantly evolved over the years. At the beginning, the activities related to gambling were strictly prohibited. Yet with time, the country developed and so did its perception on gambling.
- 1990s: Gambling was only allowed after the Country had gained its independence from the Soviet Union.
- 2001: The authority in charge of regulating the industry is the Gaming Control Authority.
- 2016: Online gambling became legalized therefore put under regulation.
- 2020 & 2022: Major changes were made to the gaming laws particularly on the aspect of online gambling and the protection of the players.
Regulatory of Betting Sites in Lithuania
None of the activities performed within the scope of gambling can be conducted without adhering to certain set of rules that have been put in place to govern the industry. Thus, Lithuania possesses a rather effective system of regulation.
- The Gaming Control Authority under the Ministry of Finance is the institution that regulates all the gambling related activities.
- Licensing and Monitoring: The authority does the issuance of licenses, enforcement of compliance and to see to it that the operators adhere to the set standards.
Prohibited and Permitted Bets
All types of bets allowed and prohibited in the territory of Lithuania are described in the country’s gambling laws.
- Permitted: Table games (Roulette, Card games, and Dice games), Slot, Betting and Bingo.
- Prohibited: Gambling that is not conducted or permitted by a license or is not regulated in any manner.
Gambling Licenses and Fees
Lithuania is very particular about the licensing of gambling operators to offer their services within the country’s jurisdiction.
- Types of Licenses: Table games, category A and B gaming machines, bingo, totalizator, and betting.
- License Fees:
- Remote gambling: €0. 5 million
- Casino, tables, Category A and B slot machines: €0. 3 million
- Bingo and betting offices: 0. 1 million
Taxation on Gambling
Although Lithuanian government tax gambling operators in order to promote a fair contribution to the society.
- Lottery: 5% on the face amount of lottery tickets.
- Bingo and Sports Betting: 18% on the receipts excluding the winnings.
- Online Gambling: Thirteen percent on the gross revenue excluding the winnings.
- Fixed Monthly Fees: It depends of the type of gambling, for instance, the max one can spend for Category A machines is EUR 260 per month.
Best Betting Sites in Lithuania
When it comes to betting sites in Lithuania, there are numerous reliable websites that one can use.
Betandyou
Betandyou: Provides a 120 euro welcome bonus.
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Betmaster
Betmaster: Famous for the variety of sports and a sign-up bonus of up to 100 Euros.
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20Bet
20Bet: A reliable company with the intuitive design and a welcome bonus of up to 150 euros.
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The History of Lithuanian Sports Events
Sporting culture is also advanced in Lithuania with several achievements that stand out to be historical milestones.
- EuroBasket Victories: Lithuania has emerged champion of the EuroBasket tournament in 1937, 1939 and in 2003.
- Olympic Medals: The national basketball team has been winning bronze medals during the 1992 and the 1996 Summer Olympics.
Celebrating Lithuanian Sports Stars
Some of the most talented and famous athletes have come from the country of Lithuania.
- Arvydas Sabonis: A great basketball player who is a hall of famer.
- Virgilijus Alekna: An Australian athlete famous for discus throwing and having Olympic gold medals in the 2000 and 2004 Olympics.
Neighboring Countries’ Gambling Laws
Lithuania is neighbor to countries that have their own specific laws concerning gambling.
- Latvia: Legal gambling is allowed and the control and supervision of the practice is done by the Lotteries and Gambling Supervisory Inspection.
- Belarus: This is through state controlled gambling where the state has a tight control on the issuance of licenses and running of the businesses.
- Poland: All forms of gambling are controlled and to engage in most forms of gambling one has to obtain a license.
Conclusion
The overview of the betting industry in Lithuania is complex and depends on the changes of the legislation as well as the tradition of sports in the country. For the first-timers and the veterans in the betting world, you need to grasp these aspects. If this is something that sparks your interest and you wish to venture into the betting sphere in Lithuania, then you are in the right time to do so and make wise decisions.
FAQ for Betting Sites in Lithuania
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