Lithuania to regulate remote gambling

Lithuanian authorities have outlined plans to regulate online gambling in 2014 after proposals to improve the country’s Gambling Act were approved by parliament.

The proposals were tabled after the ministry of finance raised concerns regarding the effectiveness of an act which had not been amended since its entry into force in 2001, ahead of the online gaming boom.

Regulation is set to include a number of restrictive measures such as a time limit on slots, a daily cap on players’ wagered amounts and strict measures to prevent underage gambling.

The government will also clamp down on illegal operators and is set to implement a number of preventative measures, including requesting payment service providers to stop processing payments involving illegal operators.

Once a regulated market goes live, the country’s regulator, the Gaming Control Authority, will be handed extended powers to impose sanctions on those operating without licence.

Lithuania has a population of around three million with a gross national income per capita of roughly £20,000 and will become the latest country in Eastern Europe to liberalise its online gaming laws.

Last month, Bulgaria handed out its first remote gaming licence to Malta-based EuroFootball, while Hungary is in the process of finalising its licence requirements ahead of a regulated market.