Five of the top gambling operators in Latvia that claim to hold about 90 percent of the country’s gambling market, have inked an agreement that calls for strengthening responsible gambling practices and promoting awareness about such practices amongst their customers.
The gambling operators including, Paf (Pafbet), Betsafe, Optibet, 11.lv, and Feniksscasino, have confirmed to an agreement to promote responsible by introducing new measures apart from simply confirming to the existing Latvian gambling regulatory compliance requirements.
The five companies are all members of the Latvian Interactive Gambling Association (LiAB).
“Among other things, we will introduce facilities for self-tests, deposit limits, the closing of specific game categories, proactive information on responsible gaming and a whole host of other measures,” said Paf Latvia manager Rihards Streikis. “It will be a clear improvement on what the gambling law in Latvia requires.
“Paf’s licensed brand in Latvia, Pafbet, may currently have a small part of the market but we have the most developed responsible gaming. We are an example for the other operators.”
According to the agreement, the five operators must launch responsible gambling tools on their respective online gaming sites by 30 June 2020.
The gambling market in Latvia has been expanding. According to the figures published by the national regulator the Lotteries and Gambling Supervisory Inspection (IAUI), the gambling revenue for the first six months of 2019 has jumped 4.7% year-on-year to €154.5m (£142.0m/$172.1m).
While the casno industry is booming, the Latvian government is planning to increase the gambling taxes and it seems the government has the necessary support to bring in the changes to the existing gambling tax structure.