The parliament in Latvia has favored the proposals seeking changes to the existing national legislation on gambling. Following the approval from the lawmakers, a series of new changes to the current regulation will come into effect.
With the newly amended legislation in place, the locals will not be allowed to place wagers on overseas online casinos and gambling websites. The law restricts any such online gambling website which does not have due permissions and licenses to operate in the country, from offering its products or services to Latvians.
A deterrence measure in the form of a “fine” is also introduced. Under the revised legislation, all those who participate in online gambling with unlicensed operators can be fined up to € 350 every time they place a wager or use the gambling services or products offered by such websites.
While the amount of fine will depend on individual cases, it is indicated that the amount of penalty will be around 23 percent for the winnings exceeding € 3,000.
There are also provisions for penalizing the Internet Service providers (ISPs), who will violate the new and revised regulation by not informing the gambling authorities of cases of illegal online gambling. The ISPs complicit in not informing or protecting unlicensed gambling operators will be fined €20,000. A repeat offender may also have their license revoked.
Earlier the gambling authority in the country has already blacklisted over 1500 such websites, though the media reports suggest that the local Internet service providers have blocked only about 500 such sites.