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Lithuanian iGaming Revenue Rockets to Drive Market’s Recovery

11 february 2022
Author: James Burton
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The Lithuanian gaming market is slowly but surely starting to recover from the COVID-19 pandemic and its influences. In 2021, the GGR of the country’s gaming industry rose by 31.5% compared to the previous year, which became a solid result for the country’s business.

Lithuanian gaming market is recovering from the pandemic

From all the verticals of the regulated gaming business, Lithuania has received 136.2 million EUR, which means that the industry is getting back on its feet compared to previous drops. There are still some problems regarding land-based casino businesses since many of them have closed due to the pandemic, which caused the revenue received from them to decrease.

Land-Based Gambling Statistics

Considering the offline business, it emerged that the majority of profits was brought by the slot machines of category B. These automatic technologies have a cap on how much of a bet the player can place. They managed to grant the country 14.8 million EUR, which is less than in 2020, but still an impressive result in light of current circumstances.

In the second place, there are table games, which earned Lithuania 8.1 million EUR. This outcome is also lower than in 2020. The category A slots, where there are no capped amount of stakes, came in third with 7 million EUR, also less than in 2020. Retail wagering gathered 4.8 million EUR.

Online Gaming Statistics

Internet gambling has amounted to more than its land-based equivalent, which balanced things out. In 2021, the revenue for online gaming was raised by 71.5% and stands at 102.1 million EUR. There was also a significant growth of the players' spending that skyrocketed and rose to 1.63 billion EUR.

The most popular service among the customers was the slots of category A, which managed to gain 59.6 million EUR. This number turned out to be twice larger than the earnings in 2020.

The revenue that was earned due to betting services landed in second place, bringing 34.2 million EUR, which is an improvement from last year. When it comes to table games, they have made significant progress with 5.8 million EUR. Category B machines became more popular in the country by a margin, gaining 2.4 million EUR.

New Regulations

In 2021, there have been a lot of adjustments to Lithuanian regulations regarding the gambling business. In particular, the bonus promo advertisements were prohibited in order to deal with the issue of addictive gambling. This ban took place in July.

Since then, the violation of these rules was made by the company UAB Baltic Bet. Initially, the group was not fined, but with time, a breach of regulations was found in the e-mail that was sent to the clients. The group had to pay an 11,183 EUR fine.

The new law of the industry, which appeared in September 2021, stated that online-only operators will now be able to get a special licence. A month later, a new draft law on taxation was introduced, according to which land-based establishments would now be taxed depending on their GGR.

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