Lithuanian gambling revenue rises by over 40% in 2022
Strong online gambling revenue led to record figures for the full year.
Lithuania.- The Gambling Supervisory Authority has reported that the country’s gambling industry generated a record €195.8m in 2022. The figure represents a rise of 43.8 per cent year-on-year and is almost twice the revenue reported four years ago in 2018.
Online gambling accounted for 62 per cent of all gambling revenue at €121.7m. That’s a rise of 18.6 per cent year-on-year. Almost two-thirds of that was from Category A online slot games (€74.9m). Online betting generated €34.9m.
Alongside the strong online performance, land-based gaming saw a solid rebound after the pandemic, with gaming tables and Category A machines also hitting records. Category B machines generated €32.4m, a rise of 118.9 per cent year-on-year but still down slightly on pre-pandemic revenue. Retail betting was also still down slightly on 2019 but more than doubled the 2021 performance at €9.9m.
There are currently 39 gambling licences on the Lithuanian market. Average player spend was €85, 44.1 per cent. The Gambling Supervisory Authority reported that it received 81 complaints last year, up from 45 in 2021. It issued fines worth €114,644, a rise of 175 per cent. Many of the fines were for breaching Lithuania’s strict restrictions on promoting gambling.
The regulator reported 1,145 blocked domains by the end of December, a rise from 904 a year earlier. Meanwhile, 11,388 people had registered to self-exclude, a rise of over 50 per cent. As for its priorities for 2023, the regulator said it would carry out a risk assessment of businesses regarding money laundering and terrorist financing.
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