Online gambling revenues soar 32% in Latvia

Latvia is thriving on online gaming.
Latvia is thriving on online gaming.

Online gambling generated €54.7 million in revenues in 2019 with casino games contributing more than €39 million.

Latvia.- Online gambling revenues in Latvia increased 33% year on year in 2019 to record highs.

The 14 licensed operators in the country generated total revenues of €54.7 million (+32.8%) during the 12 month period.

Casino games contributed €39.3 million (+42.5%) while sports betting reached €14.9 million (+12.3%). Poker generated €423k, representing a 61% rise on the previous year.

Q4 proved to be a breakthrough period for online gambling in Latvia. In the three months to December 31, revenues reached €15.9 million, up 18.4% on Q3 and up 27% year-on-year.

Gaming as a whole

The country’s land-based gaming industry performed well, too. According to the Lotteries and Gambling Supervisory Inspection (IAUI) licensed operators generated revenues of €307 million last year, up 10.5% on the previous year

The growth was led by a 16.8% hike in land-based sports betting to €3.2 million. However, land-based slots continued to dominate the market generating €231.6m (+6.7%). Casino table games added €17.3m (+4%) and land-based bingo €232k (+8.2%).

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