TonyBet enters Latvian market
TonyBet will offer sports betting, online casino and live casino via TonyBet.lv after investing €1.5m.
Latvia.- A new player has entered the Latvian market. TonyBet has confirmed that it will offer sports betting, online casino and live casino at TonyBet.lv.
The expansion completes TonyBet’s presence in the Baltics, where it already operates in Estonia and Lithuania. The company said it had invested €1.5m in expanding into Latvia and has now received an online gambling licence from Latvia’s Lotteries and Gambling Supervisory Inspection (IAUI).
Valters Rozmanis, country manager of TonyBet for Latvia, said the company had become a member of the Latvian Interactive Gambling Association, LIAB.
He said: “We will take special care to provide players with not only an exciting and innovative gaming experience but also services that are offered in a responsible manner and environment.”
CEO Victors Troicins said: “Currently, the development focus of TonyBet is on the Baltic states, Spain and Great Britain, and we are really pleased to start our operations in Latvia. For players in Latvia, we are committed to providing safe, secure, innovative and exciting online gaming.
“We will adopt our 11-year international experience and best practices regarding the protection of players from possible risks created by the industry, and we will also implement them in Latvia through Neccton, which is an innovative, digital solution created in Austria to promote customer protection.”
TonyBet also has a presence in Canada, Spain and Malta. Meanwhile, the Latvian market has twenty online gambling licences, with Entain’s Optibet and Olympic Entertain Group‘s (OEG) Olybet.lv the biggest brands.
In May, William Hill launched sports betting in Latvia through a rebranding of established local name 11.lv, which it acquired in 2019. 11.lv has operated in Latvia under a local licence since 2012, offering both online casino and sports betting.
William Hill said it intended to use existing media partnerships to promote the new brand and raise awareness of William Hill in Latvia ahead of popular sporting events including the 2022 IIHF Ice Hockey World Championship and the Responsible Gaming Latvian Cup football tournament, which William Hill provides financial support to.
The launch of TonyBet.lv will be followed by targeted marketing campaigns and yet-to-be-disclosed Latvian football partnerships that aim to establish TonyBet’s sportsbook brand ahead of this winter’s FIFA Qatar World Cup 2022.
