Most Popular Bookies in Lithuania

Since its legalization, online sports betting in Lithuania has experienced a boom in popularity. With the growing popularity, plenty of international bookmakers offer sports betting services to Lithuanians. However, compared to the international market, local online sportsbook sites offer limited services. Lithuanian players frequent these offshore platforms in order to access a wider selection of sports.

According to the current online gambling law in Lithuania, online gambling is legal. There are legitimate online casinos that have obtained the proper licenses from the online gambling authority of Lithuania. International casinos that do not have a valid online gambling license from Lithuania may be barred from operating on the country's territory. However, some qualify to operate in the country on the basis of cross-border trade agreements.

Most Popular Bookies in Lithuania
History of betting in Lithuania

History of betting in Lithuania

As of August 2019, there were a few licensed online sportsbook sites in Lithuania, though sports betting players still try to access international platforms that offer them a wide variety of sports and higher odds. On those international platforms, they can also claim some of the best online sports betting bonuses on the market and get many online sports betting promotions. Moreover, despite the authorities' efforts to actively block unlicensed websites, no reports of players being prosecuted have surfaced.

The history of betting in Lithuania is rather short compared to that of many other countries. Before 1992, Lithuania was part of the Soviet Union. In the USSR, all forms of betting were illegal. However, with the legalization of the Latvijas Loto in 1992, Lithuanians began enjoying legal betting on their favorite games.

Lithuania oversaw the legalization of online sports betting in 2001. This was due to the Catholic church's influence. Over time, a huge number of international and local markets have started making their way into the country’s territory. Following pressure from the European Union, the Lithuanian government amended the gambling act in 2016.

Two major pieces of legislation completely shaped the gambling scene as it exists today for Lithuanian players. The first is the Republic of Lithuania's Gambling Law, which was enacted in May 2001. With it came a new era for land-based casino gaming, which was officially legalized and overseen by the Gaming Control Authority.

Recent betting history

During the 2000s and early 2010s, sports betting sites were not popular. Yes, there were some players from Lithuania that registered and played, but the platforms were in their inception stages. In 2015, they caused a massive boom, and thousands of Lithuanian players started registering at these sites.

The government wanted to protect players and make sure that they had a pleasant and secure gaming experience, which is why it decided to act quickly. The Gaming Law was amended in 2016, and the most recent change legalized online sports betting.

Internet service providers were also instructed to block unlicensed sites. However, that system is not as effective as authorities envisioned since only the biggest illegal casino sites in Lithuania are blocked. The Gaming Control Authority was tasked with overseeing online gambling.

In 2021, all forms of gambling advertising were banned in Lithuania. Bonuses and promotions such as gifts, discounts, test games, and so on are also included. The rule went into effect on July 1, 2021.

History of betting in Lithuania
Future of betting in Lithuania's

Future of betting in Lithuania's

A crucial debate between the European Union and Lithuania is expected. This is because the European Union has indicated its preference for open online sports betting markets. With unlicensed bookmakers being blacklisted by the Gaming Authority, many might say it is the cause of limited online sports betting options.

Restrictions on the operations of online sports betting in Lithuania are strongly criticized by the European Commission. This sets the stage for further changes in the legislation, which will probably make the situation for European operators more favorable and lenient.

Currently, remote betting permits are only made available to operators that are also licensed to offer land-based betting. This is, however, expected to change with the introduction of a specific online license. This license will be available to online sports betting operators without any kind of tethering requirement.

Online sports betting revenue in Lithuania soared by 71.5 percent to $102.1million in 2021, easily outpacing the decline in land-based betting revenue caused by the Covid-19 pandemic. Overall gross sports betting revenue rose 31.5 percent year-on-year to $136.2 million.

With only a few licensed online sports betting platforms, the local Lithuanian sports betting market is still far from being capable of offering diversity to players.

Future of betting in Lithuania's
Major sporting events in Lithuania

Major sporting events in Lithuania

  • Basketball is a big sport among the Lithuanians. With over 3 million fans, the country has held the European basketball championship on numerous occasions. This tournament has given the online sports betting scene a huge boost in revenue over the years.

  • Ice hockey competitions. Due to the extreme cold weather Lithuania experiences during the winters, Lithuanians participate in ice hockey competitions in huge numbers.

  • Football competitions. Although Lithuanians are largely known for their love of basketball, they also show their love for football. Lithuanian clubs participate in competitions such as the European Champions League and the Europa League. These leagues are the major football leagues in the greater European Union. The national team is also active although it is not considered a football heavyweight.

Major sporting events in Lithuania
Populart betting bonuses in Lithuania

Populart betting bonuses in Lithuania

Bonuses play an important role when deciding where to play. They are very popular in the Lithuanian market. Lithuanian players enjoy bonuses, starting with the welcome bonus and various cashback promotions.

Welcome bonus

This type of bonus is pretty much on every online sports betting platform. In most cases, there is a minimum deposit amount required for a player to qualify for this bonus.

Free bets

These are usually exclusive promotions on online sportsbooks. Bookmakers provide a player’s account with a certain amount of money that they can use for a particular game or odd.

Reload bonus

Players get this bonus when they "reload" their account. Reload bonuses are given to existing players and are usually given if there has been a lapse in betting. Basically, that means that if a player takes a long break from the bookmaker and comes back with a deposit, they can receive a reload bonus.

Of course, the specific rules differ from one operator to the next. It is important to note that Lithuania’s parliament recently passed a law banning betting promotion activities in all forms. This new law prohibits sports betting operators from conducting betting trials, offering gifts and discounts, or performing any other betting-related promotions.

Populart betting bonuses in Lithuania
Lithaunia players' favorite games

Lithaunia players' favorite games

Basketball betting is especially popular among Lithuanian players because basketball is regarded as a national sport in the country.

Betting on football is also popular among Lithuanians. With the various football leagues in Lithuania and the European Union, online betting on football is popular among Lithuanian punters.

Lithuanians are also big on athletics. With several Olympic medals, athletics in Lithuania is a big market when it comes to online sports betting.

Lithaunia players' favorite games
Payment methods in Lithuania

Payment methods in Lithuania

Lithuanian players have a number of payment methods available. Online sports betting players can choose from a wide range of debit cards, credit cards, e-wallets, and even cryptocurrency. Skrill, Epay, and Qiwi are the most popular payment methods. Lithuanian players prefer these methods due to the fact that they deliver instant deposits with no additional fees.

Before choosing a specific payment method, several factors need to be weighed. These factors include transaction speed, safety, security, fees, and bonuses.

Credit and debit cards

This is the most commonly used option. Online sports betting operators also prefer this method the most. It is a safe method for such transactions and has low fees.

E-Wallets

Although not the commonly used, it is the most convenient payment method for online sports betting. Transactions are usually instant. This is for both withdrawals and deposits. This method, however, comes with higher transactional fees.

Online bank transfers

Bookmakers allow for withdrawals through bank transfers. This method is known for its safety due to the banks’ security measures. Bank transfers, however, have long processing periods.

Payment methods in Lithuania
FAQs

FAQs

Are online sports betting platforms legal in Lithuania?

Being a part of the European Union, only licensed online betting platforms are legal in Lithuania. However, international sports betting platforms are free to obtain licenses from the Gaming Control Authority of Lithuania.

Is cryptocurrency accepted by Lithuanian bookmakers?

Yes. Betting using cryptocurrency is not specifically regulated in Lithuania. Depending on the payment methods a bookmaker accepts, players can participate in sports betting activities using cryptocurrency.

Are player winnings taxed in Lithuania?

Not at all. Online sports betting players in Lithuania are not taxed. Players receive their winnings in full amounts. Only licensed bookmakers are subject to the government's 15 percent tax.

Do online sports betting sites accept Euros?

Yes. Due to the licensing system that exists in Lithuania, there are several companies operating specifically for the country. In this way, it is possible to find online sports betting sites accepting Euros, which allows players to be exempt from conversion fees.

What bookmakers are available in Lithuania?

There are numerous bookmakers, and each is attempting to expand its service to new countries in the hopes of gaining customers. As a player, you should first ensure that the bookmaker of your choice is licensed and regulated by the Gaming Control Authority in Lithuania. This should be done before they offer their services.

How does a player sign up for an account with an online sportsbook?

Each bookmaker has their own set of required details and documents that will be necessary before a player can look at opening an account with their service. Mostly, these details are an email address, username, password, and payment method.

FAQs