Gambling revenue in Lithuania grew 90.0% to 43.4m in the first quarter of 2022, as neither the return of the land-based sector or a wide-reaching marketing ban stopped the online sector from continuing to grow.

Online gambling revenue came to 26.8m, up 16.7% from Q1 of 2021.

The majority of revenue came from slots which are split between category A and category B machines.

Category A slots, with uncapped payouts and stakes, brought in 15.5m, which was up 24.7% from 2021. This came on stakes of 210.4m.

Category B slots, which limit stakes to 0.50 per spin and have win amounts capped at 200 times the original stake, 683,313, up 57.9%.

Table games brought in 1.6m, up 25.5%, on 19.4m worth of stakes and betting revenue was 9.0m, up 2.1%, on stakes of 125.3m.

Turning to the land-based sector, revenue was 16.9m after the sector recorded negligible revenue in Q1 of 2021 with land-based gaming venues closed.

Again, most of this came from slots. category A machines brought in 3.1m on stakes of 12.4m, while category B machine revenue was 7.2m with stakes of 45.4m.

Retail sports betting revenue came to 2.7m, as players staked 25.9m, while table game revenue was 4.0m with players betting 18.0m.

The increase came despite the fact that the country implemented a ban on any promotions or inducements to gamble, including bonuses, in July 2021. Since the ban was introduced, a number of operators have been fined, including Top Sport, which was fined 25,000 today (10 May).

The Lithuanian government collected 8.2m in lottery and gaming duties during Q1, up from 4.2m in Q1 of 2021.

See the original post here:

Lithuanian gambling revenue grows by 90% in Q1 - Quarterly results - iGaming Business