Lithuania Could Legalize Online Gambling Next Year

28 October 2013

Lithuania lawmakers have recently announced that they are going to submit a law in order to legalize the online gaming and betting industry in the country sometimes in 2014. The government is said to have proposed to the Seimas parliament to license internet gambling under the control of a gambling regulatory authority. The proposal encompasses the possibility of usage of ISP blocking for rogue operators who seek to offer their services to Lithuanian residents.

Deputy Finance Minister Vytautas Galyonas explained that if the online gambling industry will not be properly regulated in the near future, the country will lose significant tax revenue for the state coffers if illegal operators will continue to run their online gambling sites. Galyonas expressed the idea that despite the fact that gaming and betting was legalized in the Eastern European country in 2001, no specific law to regulate online operations has been clearly submitted by now and many gambling firms entered the improperly-regulated market.

Thus, Lithuanian lawmakers are commencing to be aware of the fact that it is now of utmost importance to bring the online gambling industry under stricter control and only accept licensed gaming companies in the Lithuanian internet gambling market. Our casino software developers can successfully provide entrepreneurs with the most suitable online gambling products, in accordance with their needs and budgets.

28 October 2013

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