to the European markets. In 2016, TonyBet business in Lithuania (Losimu Strategine Group) was acquired by Swedish company Betsson AB for €6m. Tis covered the Lithuanian operation and now operates as
Betsafe.lt whilst the TonyBet brand continued in other markets.
JSC Novogaming has 12 betting shops and the Olympic Casino Group operates its betting sector via the brand Olybet, offering sports betting, online casino and poker gaming in the Baltic states. Tere are 20 Olybet betting shops in Lithuania plus online gaming options via
olybet.lt.
Te betting market both online and offline is worth around €500m in turnover with an eight per cent growth rate (offline) and 48 per cent online gambling growth rate last year.
Online betting and gambling are legal. Amendments were added to the Lithuanian gaming act in 2016 to regulate online gambling for the first time in the country. However, any company wishing to organise remote gambling must have at least either: one casino; five totalisator offices; 10 gaming halls or 20 betting offices. Te authorised capital of a company wishing to operate remote gambling must be a minimum of €1.15m with a bank guarantee of at least €72,400.
Tere is a blacklist of over 327 companies listed via the gambling authority and there are seven remote gambling operators listed on the Gaming Control Authority’s permission list (2018 data). Tese are:
Top Sport; Losimu Strategine; Olympic Casino; Tete-a-Tte Kazino; Nese; Baltic Bet and Unigames.
Horse racing is a popular sport and Lithuania is famous for its Sartai Horse Racing, an annual festival held every February in Aukstaitija
P100 NEWSWIRE / INTERACTIVE / MARKET DATA
Online betting and gambling are legal. Amendments were added to the Lithuanian gaming act in 2016 to regulate online gambling for the first time in the country. However, any company wishing to organise remote gambling must have at least either: one casino; five totalisator offices; 10 gaming halls or 20 betting offices. Te authorised capital of a company wishing to operate remote gambling must be a minimum of €1.15m with a bank guarantee of at least €72,400.
National Park near to the town of Dusetos.
Te festival is 221 years old and stems from the legend of an arrogant and wealthy landowner who challenged a young servant to a race on the frozen Sartai lake to win the hand of the young man’s girlfriend. With a hint of the hare and tortoise story, the young man strapped up his old tired mare whilst the master took his finest fastest horse and carriage. Te young servant won and in a fit of rage the master, being a sore loser, ordered the servant to be beaten just as the ice cracked on the lake and the master fell into the lake and drowned.
Since 1905, the Sartai Horse Race has been a
traditional event and saw the development of horse breeding and now also encompasses concerts and horse shows. In 1955, the festival was declared to be of national importance.
During the last few years milder winters mean the race has had to move to a nearby hippodrome for safety issues.
Horse racing in Lithuania is currently operated at the Raseiniai Racecourse in Dumsiskes, the only thoroughbred race track in the country. Harness racing is held at Utena Hippodrome, a modern racetrack in Uzpaliu which was reconstructed in 2013 and has a stand for 600 spectators plus conference halls and tourist
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