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Latvian Online Gambling Law Review
Sunday July 31,2011 : Hefty general licence entry fees and stringent requirements for new operators
The Latvian Lotteries and Gambling Supervisory Inspection in conjunction with the Ministry of Finance is in the process of reviewing existing land and online gambling laws according to Vostokreport.com.
Home to some impressive online gambling software companies, the pastime has been legal since 2003, with a 10 percent interactive betting tax that has not discouraged some 160 operational sites from springing up.
Key amendments to the legislation that affect online gambling include:
- A general Gambling license to operate interactive (online) games.
Licence requirements and costs include: LVL 1 million (GBP 1 234 400) shareholders capital, share of non-EU equity holders can not exceed 49 percent, impeccable reputation, general license entry fee of LVL 300 000 (GBP 370 321) with an annual renewal fee of LVL 25 000 (GBP 30 860)
- ISP ban of unlicensed operators’ websites
- Payments ban to unlicensed operators bank accounts
- 5 percent gambling tax on gross gaming revenue
- Licensed operators will be permitted to advertise during Olympic games and related events (media and at the venues) provided they are official sponsors of the Latvian Olympic Committee and/or certain sport federations
- Age restriction: Players must be at least 21
Existing licensees, such as the Olympic Entertainment Group (OEG), would find themselves in a strong position should the proposals be adopted as they would be unaffected by the hefty licence entry fee.
Gambling News :
NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday -
Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.
Pro League Reveals Sportradar Contract Details -
The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.
NFL Odds: Steelers Visit Undefeated Chiefs #TNF -
The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.
Mega Moolah strikes again -
The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.
2 New Slots For Microgaming Casinos -
David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.
MLS Odds: Red Bulls vs. Whitecaps -
The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.
MLB Odds: Yankees Favored in AL Wild Card Game -
After a strong regular season, the New York Yankees (91-71, –1.00 betting units) opened as –235 home favourites for Tuesday’s AL Wild Card Game against the Minnesota Twins (85-77, +11.48 units). First pitch is at 8 PM ET on ESPN.
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