Online Casinos with Lithuanian Gambling License

In this guide, we will discuss the Lithuania gambling license and how casinos are regulated in the jurisdiction. You will also discover the benefits of playing at Lithuania-licensed casinos and how players are protected. Join us now as we take you through the regulated online gambling market in Lithuania.

Brief History of the Gambling Market in Lithuania

Today, online casinos and sportsbooks are regulated by the Lithuanian Gaming Control Authority, but it was not always so. Gambling officially began in the country around 1992 after it left the Soviet Union. It began with the legislation of lotteries but it wasn’t until nine years after that other forms of gambling were accepted.

In 2001, the Lithuania Gaming Control Authority and a new gaming law were introduced. With this new law, many other forms of gambling became legal. It led to the opening of many land-based casinos, machine halls, bingo halls, and betting shops across the country. However, online gambling was not covered by the law and was considered illegal.

After the Estonia regulated online gambling market kicked off in 2010, Lithuania also began to consider legalising iGaming. In 2013, the government approved changes to the Gambling Act. Although the regulation was expected in 2014, it was finally enacted in 2016.

The Gaming Control Authority, an arm of the Ministry of Finance, was also tasked with the responsibility of issuing online gambling licenses. According to the law, operators of online gambling licenses needed to have one of the following physical outlets:

• 20 betting offices
• 20 totalisator stations
• One land-based casino
• 10 gaming machine halls
• Five totalisator officers for horseracing

In 2022, the Parliament adopted amendments to the Gambling Act. The new changes introduce new iGaming licenses for offshore operators. Contrary to the previous law, online operators will no longer require a physical presence to hold an online gambling license. As long as they meet other requirements, they are permitted to carry out their services from outside the country.

Types of Lithuania Online Gambling License

There are basically two types of Lithuanian online gambling licenses – the online license and the terrestrial license. However, there are more categories of licenses, depending on the specific forms of gambling the operators wish to offer.

Here are the six forms of gambling activities allowed by the license:

• Bingo
• Betting
• Totalisator
• Table Games
• Remote Gaming
• Machine Gaming (Category A and B)

Reliability and Popularity of the Lithuanian Gaming Control Authority

Obviously, the Lithuanian Gaming Control Authority is not one of the very popular regulators. Nevertheless, the country has solid regulations to ensure that players at Lithuania-licensed casinos are safe and secure. The authority also revokes licenses of holders that violate their conditions. Therefore, you have nothing to worry about when you play at casinos licensed in Lithuania.

Benefits of the Lithuania iGaming License

Both players and operators have benefits to enjoy from the Lithuania gaming license. We have described them briefly below:

• Solid Regulatory Framework: The gambling industry has been active since 2001, so the authority has strong policies guiding their activities.
• Safety: All casinos licensed in Lithuania are required to provide safe and secure gambling environments for users. Thus, your personal information and funds are safe.
• Low Taxes: For operators, Lithuania is a great place to locate your company as the taxes are relatively low.
• Legal Gambling in Lithuania: If you’re in Lithuania, casinos with the gambling license provide you with a safe space to bet online. You don’t have to bother about breaking the law to enjoy casino games from the comfort of your home.

The Process of Obtaining a Lithuania Gambling License

According to the new law, there are license application fees as well as minimum capital requirements. The license fees for the different gambling forms are as follows:

• €500,000 for remote gambling
• €300,000 for casinos, table games, and Category A and B slots
• €100,000 for bingo and betting offices

The minimum authorized capital ranges from €144,000 to €1,158,000, depending on the form of gambling. All remote gambling operators must have at least €1,158,000 capital.

If you have the financial resources as an applicant, you must then take the following steps:

1. Fill in the relevant form for your desired license type
2. Provide proof of existing capital and other documents showing the existence of your firm or company
3. Make available details about the firm’s supervisory board, its CEO, deputy, chief financial officer, and board of directions. If the individuals are connected to other firms, you must include information about their participation.
4. Provide necessary documents and details about how the company’s founders and shareholders got the money to buy registered shares of the company
5. Provide proof of the company’s executives and shareholders having no criminal record
6. Provide documents that certify the conformity of your platform or devices to the authority’s requirements

Drawbacks of the Lithuania Online Gambling License

Although the Lithuania license is a good one, it’s certainly not one of the best options out there, especially for offshore operators. Here are some drawbacks you may consider.

• Low Popularity: Compared to the licenses from Curacao, Malta, or the UK, the Lithuania iGaming license is not well-known. That could make it difficult for casinos to earn the trust of players.
• Small Market: The major market the license covers is Lithuania. However, the country has a small population and this means the customer base for casinos is limited. To cover other markets, the operator will still have to acquire a bigger license.

Conclusion

Although not as renowned as some other licensing jurisdictions, Lithuania offers a secure and compliant environment for both players and operators. The Gaming Control Authority adheres to fair gaming standards and is committed to player protection.

For now, we can only continue to watch the Lithuania license and its authority as the gambling industry evolves. Whether or not it will grow to become a formidable regulator in the industry is a question we can’t answer now. Nevertheless, we can confidently say that players can enjoy a safe and enjoyable experience at Lithuania-licensed casinos.

Feel free to explore the few gambling sites licensed in Lithuania as long as they’re available to your location. Don’t forget to prioritize your safety and play only with funds you can afford to lose.