The operator was found to be “organising gambling outside of gambling regulations”.
The regulator said the operator had offered odds that appeared to be in error, had failed to cancel bets that should have been cancelled by regulation and didn’t sufficiently limit players’ bets. It did not elaborate on the bets that should have been cancelled, or if they were related to the incorrect odds displayed.
Baltic Bet has been warned by the Gambling Supervisory Authority about the possible violation of its licence conditions. The regulator imposed a similar fine on operator Unigames last month. In that case, the fine was for offering a BetBuilder product, which is not permitted in Lithuania.
A statement from the regulator said: “The company is warned about the possible violation of the licence to organize betting and is obliged to eliminate the violation within the set term.
“Decisions made by the Gambling Supervisory Authority are not final and may be appealed in accordance with the procedure established by the Law on Administrative Proceedings of the Republic of Lithuania.”
Gambling laws within Lithuania may soon undergo a significant change, with the country’s legislature giving the green light for online-only gambling licences in the country at first reading. Currently, online operators must partner with land-based licensees.