1/11/10 – Perhaps spurred on by the efforts of other Baltic nations like Estonia, Lithuania is reportedly developing new laws to handle the contentious area of Internet gambling…and early indications are that it could follow the Estonian model, controlling licensees with strict but genuine regulations that will require local licencing and servers in-country, as well as protection for the vulnerable….and of course taxation.
Land gambling only found its feet in 2001 in Lithuania with legalization leading to the establishment of the first land casino in the tiny country in 2002. Since then, growth has been slow but steady and there has been some Internet intrusion into the market, which the outdated laws have trouble in addressing.
Local companies continue to dominate the Lithuanian online sector, although there is increasing international interest.
The new legalization now being drafted will specifically address Internet gambling and how it is to be regulated, with some optimists opining that it could see the light of day before the middle of 2010.