Over the past few years, the gambling industry has actively increased its presence in Europe. Only recently, in 2019, the European gambling market amounted to €98.6 billion, of which €24.5 billion belongs to online betting. Therefore, experts expect €98.6 billion in 2025 and a significant increase in the share of online platforms (up to €37.3 billion).
Taking into account statistical indicators, it becomes obvious that gambling is now a popular leisure option in Europe. In particular, the Baltic countries have also started to turn to safe gambling services more actively and have become more visible in the statistics. For example, in 2019, these countries entered the top 15 European countries with the largest share of online gambling activity.
The main stimulus is public interest
Sustainable development of any industry requires an interested audience with relevant needs and demands for a product or service. And the citizens of Estonia, Latvia, and Lithuania have such a need. One of the important factors influencing the high level of engagement is the economic stability of the population.
People can financially afford to spend time gambling for real money. They know that this specific amount can be used for any type of vacation and choose to gamble.
In addition, they also need to experience the full range of emotions, even if their everyday life is somewhat stable and the same. That is why most gamblers wish to offer a much-desired sense of risk and play on emotions.
Political background: how Baltic countries regulate gambling
The gradual integration of gambling into the public life of a country requires state regulation. Representatives can develop honest and transparent business only if the state apparatuses have created all possible conditions for their functioning. In recent years, representatives of the Baltic countries have begun to deal with this issue more actively.
Estonia
One of the main regulatory laws in Estonia since 2008 is the Gambling Act. It establishes the basic rules for obtaining a gambling license, controls compliance with legal and technical standards and so on. In addition, this issue falls under the control of the Estonian Tax and Customs Board (EMTA).
Also, before starting their gambling leisure, customers should choose a safe and high-quality online casino. The portal eestikasiinod.info, which specializes in the best platforms for Estonian customers, will help to solve this issue.
Latvia
The law that controls the entire gambling cluster in Latvia is the Gambling and Lotteries Law, which has been in force since 2005. The main part of the law was aimed at reorganizing the casino structure, which had to adhere to clear compliance criteria for all types of portals.
In addition, the Latvian government is making every effort to combat unlicensed companies. To ensure transparent operation, the government offers two types of licenses: a full-fledged gambling license (applicable to land-based and online casinos) and an interactive gaming license (valid only for online platforms). Relative to the prices for obtaining a license in Europe, Latvia has a fairly low price indicator, which allows the gambling business to grow stronger.
Lithuania
Lithuania legalized gambling back in 2001 by adopting the Gambling Regulation. However, the law was applied to the online gambling sphere much later (in January 2016). Nevertheless, the country’s Department of State has set quite specific conditions that must be met by a platform that wants to operate legally.
In particular, the company must have a valid license from the Gaming Control Authority and cooperate with land-based casinos, provided that the representative does not have a physical office in Lithuania.
Since then, the Gaming Control Authority under the Ministry of Finance of the Republic of Lithuania (LPT) has been able to track and block illegal gambling websites. Also, LPT conducts regular monitoring of offers in the Lithuanian gambling industry.
Building brand image and reputation
All players want a high-quality and safe gambling experience. Therefore, online platforms are doing everything possible to obtain EU licensing. After all, such a license will directly confirm the status of this gambling company and form a more powerful and recognizable image. It is the work on the image and constant self-improvement that allows companies to offer better services.
Moreover, the available licensing and necessary certification of an online casino or sportsbook will allow to build a stronger trust in the portal and thus attract more potential customers. This is important because everyone wants to enjoy safe online gambling.
There is one more aspect worth mentioning: the developed judicial system of the Baltic countries. This further increases the level of public security. After all, people understand that if they come across a fraudulent platform that is not properly licensed or regulated by local regulations, the judicial law will be on the side of justice.
To summarize
Every year, the gambling industry increases its presence both online and in land-based casinos. Experts expect that by 2025, the total market capitalization of online and offline gambling will increase to almost $112 billion.
Therefore, European countries, having noticed this trend several years ago, are already working on laws on betting regulation. The Baltic countries have all the economic, social, and legal grounds to form a high-quality and safe cluster of gambling companies that the public can trust with their time and money.
