Latvia online gambling revenue rockets 246% in H1 2021
Lotteries and Gambling Supervisory Inspectorate confirms 582 unlicensed illegal gambling sites were blocked during the first half of the year
Latvian regulated online gambling market revenue rose by a record 246% year-on-year during H1 2021, according to the latest figures provided by the country’s Lotteries and Gambling Supervisory Inspectorate (iAUi).
Revenue from online gambling hit €51.4m (£43.8m) during the first six months of the year, far in excess of the €20.9m generated during the same period a year prior.
The positive year-on-year results were due in part to the closure of regulated online sites for 63 days between April and June 2020 as part of the Latvian government’s response to the Covid-19 pandemic.
All of the country’s 13 interactive gambling operators have since resumed operations.
This was in stark contrast to the land-based sector, where revenue from gaming halls and retail betting only increased by single digits due to the closure of these properties for 165 days between January and June 2021.
Overall gambling revenue dropped by 26% year-on-year to €51.9m, with revenue from the online sector making up almost 100% of revenue generated during H1.
Operator total turnover declined by 24% annually from €74m in H1 2020 to €55.9m during the same period in 2021.
As a consequence of the reduced turnover and closures, the contribution of licensed operator revenue to Latvia’s state coffers fell by 47% during H1 to just €9.1m.
IAUi officials blocked 582 unlicensed interactive gambling sites during the period.
As of 1 July, a total of 19,159 individuals are currently registered with the Latvian self-exclusion registry, with 15,474 currently self-excluding from all Latvian gambling.