Latvia: online gambling revenue almost doubled in 2021

Latvia’s gambling revenue fell by 19.8 per cent in 2021, but online gambling almost doubled.

Latvia.- Revenue figures for Latvia’s regulated gambling market in 2021 show that while land-based gambling was hit heavily by the Covid-19 pandemic, online gambling rocketed.

Total revenue was down 19.8 per cent year-on-year, but online gambling revenue almost doubled.

Total gambling revenue for 2020 came in at €128m. However, online gaming revenue was up 91.8 per cent year-on-year at €109m.

Online casino accounted for €87.8m of that (more than double 2020). Pari-mutuel Totalisers contributed €19.4m, up 47.7 per cent and online card games €1.7m, up 98 per cent.

There are currently 13 licensed online gambling operators on the Latvian market. The massive growth in revenue came after Latvia initially banned online gaming altogether in the early stages of the Covid-19 pandemic.

Last year, the Latvian regulator took action to enforce anti-money laundering and anti-terrorist financing measures as the number of online players increased. It also blocked some 735 unlicensed sites, an increase of 34 per cent compared with the number of sites blocked in 2020.

Land-based gambling revenue in Latvia

Land-based gambling revenue was hit hard by the closure of Latvian gambling venues due to the Covid-19 pandemic from November 9 2020 until June 15 2021. The number of gambling halls in business dropped from 305 before the pandemic to 208 in October 2020.

Gambling machines took €17.1m in revenue, a drop of 82 per cent. Table games generated €1.5m, down 70.5 per cent and bingo halls incurred a loss of €2,000 compared to positive revenue of €121,000 in 2020.

Betting terminal revenue was €245,000, down 84.3 per cent. Revenue was significantly better in the second half of the year, with the first quarter fairing worst.

Signe Birne, head of Latvia’s Lotteries and Gambling Supervision Inspectorate, said: “Last year, the amount of revenue decreased significantly and the share of gambling types in the total turnover of the industry changed, due to restrictions imposed by Covid-19.

“Gambling machine revenue was €17.2m in 2021, which is only 18 per cent of its revenue from 2020. Revenue from interactive gambling is €109m, almost double the 2020 results.”

See also: ECA survey reveals Covid-19 measures affecting European casinos