- Slot machines are the most popular means of entertainment in many casinos. The rules of the game are simple, do not require compilation of algorithms or calculation of the actions of opponents. The possibility of winning here is determined by the random number generator. The level of payments largely depends on this software, which means that it must have a verified supplier, and the algorithms themselves are checked by a specialized commission during the audit of the website after consideration of the documentation package by the gambling experts of a foreign country.It is possible to obtain a license for gambling machines in Latvia during 6-12 months. Specific period depends on the territorial coverage of users by your portal, as well as the number of types of gambling on the website.
- All kinds of lotteries are divided into national and private, the first can cover all residents of the country, and the latter are held in a relatively narrow circle. Also, such draws differ from each other in duration and type of gifts given to players. Lotteries are often held not as a separate kind of entertainment, but in combination with slot machines in online and real casinos.Earnings of lottery tickets are carried out when playing slot machines, and the number of tickets depends on the number of bets placed. The more tickets particular player has, the higher his chances to win the main prize.The cost of a license for lotteries in Latvia can be included in the general package of licenses for the casino. If you plan to obtain it separately, the time for consideration of the application will be reduced, but re-submission of a package of documents will be necessary for the development of bingo or poker.
Opening of physical branches of gambling establishments is possible only in the territories of those countries where this business is officially authorized. So, obtaining a license for casino in Latvia gives you the opportunity to expand gambling halls within Latvia, the UK, Gibraltar, Curacao, the Seychelles, the Isle of Man and other territories.
When creating an online portal for gambling, you must perform all the same operations for registering a business and licensing it, but there is no need to rent a room for machines, and gamers can play from anywhere in the world on the international website.
In addition to the official certificate for each type of gambling, you will need certificates of honesty policy, quality assurance of the supplied software and other permits.
Bookmaker license in Latvia
- Obtaining a bookmaker license in Latvia takes no more time than for regular casino certification. Bets can be accepted for sports, personal disputes and any events depending on the interests of the owner of the office or its users.
The object of taxation in this form of gambling is not material income – contributions are paid in the amount of up to 15% regardless of the profitability of the institution and its level of financial position. License for betting in Latvia is issued by the special department of the expert committee on gambling.
Bingo license in LATVIA
To get an opportunity to conduct this type of lottery in the territory of the jurisdiction of Latvia, an extensive package of documentation is required. Bingo is often used as an independent section of gambling. The game is seldom found in the casino, however it is popular among local population and non-residents. The tax on bingo also does not exceed 15%, which is beneficial for the business owner.
You can obtain a license for bingo in Latvia with the help of our lawyers. Despite the long period of registration of the necessary documentation, the client does not need to spend months of personal time on the collection. The counterparty provides a power of attorney, CV, a copy of the passport and an application form with personal signature, and our specialists make a request for all other documents.
Depending on the number of beneficiaries and types of games on the website, the number of items in the list of official documents can reach 40-50. After studying all the documents, the commission sets the time for auditing the portal in order to be sure of its compliance with the legislation of Latvia and the data specified in the documentation package.
The license is valid for 5 years from the date of receipt. In order to renew the certificate, re-verification of both the website and the documents is required. In view of the circumstances of repeated application, the terms of consideration with renewal may be shorter.
Licensing of online casinos in Latvia
To legally operate in Latvia, an online casino needs to obtain an appropriate license (relevant for all games that are based on betting on the outcome of a random event). Otherwise, Latvian ISPs will block access to the offender’s website. At the time of writing, there are only 7 operators that hold one. The only kind of lottery allowed in the country is Latvijas Loto, an official state-owned operator. This is the only place where you’ll be able to play bingo and keno.
How to find the top online casino operators in Latvia
Even though many are licensed, keep in mind that not every operator has an operational online casino. Due to this, it’s easy to get confused. An easy solution is to check online casino comparison websites to see whether the casino you’re interested in is licensed to accept players from Latvia. These comparison websites also contain other helpful information such as ratings, conditions, bonuses, promotions, etc.
Are there any exceptions you should know of?
Although Latvia has a liberal gambling climate, there is a notable exception; namely, blood sports. An example of this would be betting on the outcome of a chicken fight. In essence, these are banned because they feature elements of animal cruelty.
Gambling taxes in Latvia
Regardless of whether you’re planning to gamble in land-based or online casinos, be prepared to pay taxes on your winnings in Latvia. The exact rate, however, depends on the game played. Fortunately, online gambling has some of the lowest tax rates at 10%. In comparison, other variations of gambling such as sweepstakes are taxed at 15%.
Lotteries and Gambling Supervisory Inspection
Establishment, structure and functions of the Lotteries and Gambling Supervisory Inspection
Lotteries and Gambling Supervisory Inspection of the Republic of Latvia is implementing the government functions in arrangement of lotteries and gambling. The Inspection has commenced its activities on 1st January 1998.
The Inspection is managed by the Director of Inspection, under the subordination there are the Assistant Director, Deputy Director, Control Department and Legal Department.
Deputy Director of the Inspection is Director of the Control department. Main functions of the Control Department are:
- Control over compliance with laws and regulations governing lotteries and gambling, lotteries of goods and services within territory of the Republic of Latvia;
- Supervisory and control over arrangement of lotteries, gambling, lotteries of goods and services, participation in lotteries;
- Performance of supervisory over casino encashment;
- Aggregation and analysis of information concerning checks performed, results thereof, as well as violations of laws and regulations governing lotteries and gambling, lotteries of goods and services and reasons thereof.
Legal Department comprises Licensing Division and Financial Analysis Division. Main functions of the Legal Department:
- Ensuring representation of the Inspection in legal proceedings;
- Ensuring development and control over compliance with the state procurement contracts;
- Drawing draft statutes and laws and regulations related to arrangement of lotteries and gambling and the Inspection activities, coordination of approvals thereof and compliance with the European Union Directives;
- Review of the gambling rules;
- Performance of supervisory over registration, marking and inventory of gambling slot machines and equipment;
- Analysis and handling of documents for the purpose of granting licenses to capital companies for arrangement of lotteries and gambling, as well as to organizers of lotteries of goods and services for granting the lottery confirmations or permissions.
- Review of documents submitted by capital companies in order to receive license and provision of economic opinion thereto;
- Aggregation and analysis of information concerning overall market of lotteries and gambling, as well as elaboration of forecasts as regards development of the market of lotteries and gambling;
- Performance of marking of the gambling equipment, registration of gambling slot machines and equipment and delivery of marking signs;
- Performance of comparing and verification of the amount of market of lotteries and gambling duty and tax being calculated and paid to the Public Treasury account, amounts of the stamp duty of marking sign calculated and accrued,
- Elaboration of draft annual budgets, cost estimates, funding plans and budget performance reports of the Inspection;
- Performance of inventory concerning quantity, type, numbers and series of mandatory documents registered for each capital company.
Principal tasks of the gambling supervisory authority:
- to ensure gambling being safe for consumers (meeting general electric safety requirements and being safe from the point that technical equipment of slot machines, other lotteries and gambling devices and software providing for prize payment percent stipulated by the law);
- to ensure that organizers of lotteries and gambling comply with requirements prescribed by the law (they have sufficient financial resources, origin whereof can be established, proper reputation and they have been neither sentenced nor capacitated);
- to ensure control and supervisory over lotteries and gambling in order to those being arranged only in compliance with requirements of laws and regulations of the Republic of Latvia;
- to ensure protection of consumer rights and to form contribution, to reduce eventual social risk related to gambling.