Lithuania as a potentially growing market for online gambling
January 14, 2010, 10:18 am (7 years ago)
The market in Lithuania hasn’t been showing much progress when it comes to gambling industry. It’s been around 20 years since the small Baltic state gained back its liberty. Different from other countries which implemented policies advantageous to the gambling business and the benefits that it provides, Lithuanian gambling regulations were developing in a very slow pace.
The Catholics centered culture in the country is one of the biggest reasons for this lack in initiative and inflexible approach towards gambling in Lithuania. In 1994, the National Gambling and Gaming Business Association (NGGBA) began lobbying for gambling. However, its achievements were only recognized in 2001. Lithuania’s first casino was established in the beginning of the year 2002.
Since 2002, the gambling market has spread throughout the country with more triumph. Even internet gambling in Lithuania has seen some extent of success. A lot of internet casinos have indicated interest and made some research in the Baltic region as a potentially lucrative market.