Latvian Interactive Gambling Industry: Challenges and Solutions to Reduce Illegal Market Share
RIGA. Latvia (June 17, 2022) — Reducing the share of illegal online gambling by combating the shadow economy and the risks of addiction is possible only if consumers are provided with a legal and controlled supply of interactive gambling. This is the conclusion of the study “Latvia’s interactive gambling industry: challenges and solutions for reducing illegal market share” conducted by SSE Riga professor and Director of the Sustainable Business Center Arnis Sauka.
This study was initiated by the Latvian Interactive Gambling Association at the end of 2019. The main objectives of the study are to identify the most important factors that contribute to the size of the illegal part in the Latvian interactive gambling market and to offer recommendations for reducing the size of the illegal market.
The study and its recommendations are based on the assumption that gambling, including interactive, poses serious addictive problems for some gamblers. However, in comparison to “land” gambling, it is not possible to completely close access to interactive gambling on the Internet. In addition, all available evidence suggests that despite various restrictions and educational campaigns, people will want to gamble – legally or illegally.
The study is based on several complementary data: the available statistics of the interactive gambling industry, in-depth interviews with the leaders of the largest companies in the industry, which in total make up about 90% of the volume of the interactive gambling industry in Latvia. In addition, interviews were conducted with representatives of the main responsible institution: the Ministry of Finance and the Lotteries and Gambling Supervisory Inspection. All interviews were conducted in early March 2020.
- Law on Administrative Liability
- On Gambling and Lotteries
- Electronic Communications Law
- Credit Institution Law
- Law on Payment Services and Electronic Money
- Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing
- On Lotteries and Gambling Fee and Tax
- Law on Lotteries of Goods and Services
SOURCE: Latvian Interactive Gambling Association (LIAB).Tags: Latvia, challenges and solutions for reducing illegal market share, Latvian Interactive Gambling Association