Access our network of Banks for your Latvian Casino
With iGaming revenues expected to hit €132 million in 2023 –and annual growth of more than 6% projected – Latvia could be a great place to launch an online casino or sportsbook. You’ll need to have a physical presence in Latvia (and a .lv domain name) to provide online gaming services to its 1.85million people, and grow you presence in this dynamic market.
To provide online gaming in Latvia, you must have a physical presence in the country – since 2013 it has been illegal for Latvians to gamble on foreign websites. Getting an online gaming payments account can also be challenging in Latvia, since the industry is relatively new and many traditional banks view the sector as ‘high risk’.
The Lotteries and Gambling Supervision Inspection regulates gambling, betting, lotteries and other games of chance in Latvia. To obtain a license, you will need a local partner who will control at least 51% of the business, and you’ll also need to pay a €200,000 license fee, plus annual re-registration fees of €37,000.
Since many local banks, electronic money institutions and other payment institutions in Latvia are not experienced working with iGaming businesses, you might struggle to find an account provider in Latvia. And this is where iGaming Core helps. Through our network of partners and in-house experts:
Latvia is a digitally advanced country, with widespread use of fintech. Many Latvians are comfortable using e-wallets such as Beeline, Qiwi, Skrill and Neteller. Latvians are also comfortable using mobile payment methods, and all major international debit and credit cards are used in the country.
Contact us today to start accepting payments to your Latvian iGaming website
On online gaming revenues
The year online gaming was legalised in Latvia
Online gambling operators licensed in Latvia in 2022.
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