Latvia’s regulator issues warning over fake lotteries

The gambling regulator from Latvia has warned residents to be careful of fraudulent lotteries on the internet.

Latvia.- The gambling regulator from Latvia, Izložu un Azartspēļu Uzraudzības Inspekcija (IAUI), has issued a warning in which it tells residents to be careful not to engage in fraudulent internet fraud schemes.

The regulator explained that fake lottery organisers send emails or phone messages announcing lottery winnings. It said that finding the fraud organisers is virtually impossible, but recommended to take into account some of the signs of fake lotteries.

The Latvian watchdog mentions some of the signs, such as to have never knowingly participated in the given lottery, impersonal address, if the win announcement was sent from a public email server, and if the text contains grammatical errors.

“For your reassurance, it is advisable to check the information in the notice with the help of a search engine, to find the lottery organisers indicated, their address and occupation. Please note that lotteries in all European countries may only be conducted with the permission of the relevant Member State Supervisory Authority.”

“In a state-controlled lottery, the winner will never have to pay the prize taxes or money transfer commission before receiving the prize. Don’t send your personal data, bank account details and money to unknown people,” said the regulator.

Latvia posts gambling revenue increase in 1H19

Revenue in the first six months of the year has increased 14.7% year-on-year to €142 million. The regulator said that all verticals reported positive results in the six-month period.

Latvia’s revenue from January 1 to June 30 rose 14.7% when compared to the €134.6 million in the same period last year. The IAUI reported that income from gambling also increased 15.2% from €99.9 million to €111.5 million. The main generator of this revenue increase was gambling machines, as they registered a collective €111.5 million, or an 11.5% increase over the same period last year.

Online gambling revenue posted an impressive 38.8% rise year-on-year, from €18.2 million to €25.4 million. The casino vertical was the most popular during 1H19, as income was up by 40.1% to €18.1 million. Online betting also increased 35.3% to €7.1 million.

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