The operator was found to be “organising gambling outside of gambling regulations”.
The regulator identified several violations by the operator including offering odds that appeared to be in error, failing to cancel bets that should have been cancelled by regulation, and inadequate limitation of player bets.
The specifics of the bets that should have been cancelled were not provided, nor was it clarified if they were related to the incorrect odds displayed.
Baltic Bet has received a warning from the Gambling Supervisory Authority regarding the potential violation of its licence conditions.
Last month, operator Unigames also faced a similar fine imposed by the regulator for offering a BetBuilder product, which is prohibited in Lithuania.
The regulator’s statement indicates that Baltic Bet has been informed about the possible breach of its betting licence and is required to rectify the violation within a specified period.
It should be noted that decisions made by the Gambling Supervisory Authority are not final and can be appealed following the procedure established by the Law on Administrative Proceedings of the Republic of Lithuania.
There may soon be significant changes in Lithuania’s gambling laws, as the country’s legislature has given initial approval for online-only gambling licences. This would eliminate the current requirement for online operators to partner with land-based licensees.
