Best Betting Sites in Latvia

Like other Baltic countries, Latvia was part of the former Soviet Union until 1991. When it gained independence, the legalization of gambling gained momentum, and in 1998, the country founded the Lotteries and Gambling Supervision Inspection.

However, it wasn’t until 2006 before international online betting sites in Latvia became a reality. As betting sites are common in Latvia, knowing which are the best betting sites in Latvia is important. This article is dedicated to helping you choose the best Latvian bookmakers and providing other information about betting in Latvia.

Top Trusted Bookmakers in Latvia

Our table will detail the major leading betting sites in Latvia for 2024.

Best Betting Sites in Latvia Ranked

1. Betsafe – Our top pick site for Latvia
2. FortuneJack – Best crypto bookie in Latvia
3. OlyBet – Excellent odds in the sportsbook
4. Betway – Top bonuses and specials for Latvian punters

Latvia’s TOP Bookies Reviewed

Latvia punters are blessed with the opportunity of unrestricted access to online sportsbooks and casinos. As the Latvian market is established, that means access to some of the top bookmakers in Latvia. However, choosing the best betting sites in Latvia and one that is reputable is not as cut and dry as it seems. Using our list of top 4 trusted bookmakers in Latvia will easily accomplish that.

Betsafe

Founded in 2006 and based in Sweden, Betsafe has everything you need for a smooth online sports betting. The platform is specifically designed for sports bettors and includes a wide selection of sports. It also features a superior in-play section and includes an excellent number of markets. Likewise, Betsafe has been mindful to include singles, parleys, and round robins among its betting options.

Another reason Betsafe sits in our number one spot of trusted bookmakers is their other gaming products. Beyond being a licensed bookie in good standing, and a punter-favourite, Betsafe delivers a diverse collection of games. This encompasses sports and virtuals for sports enthusiasts, and casino, poker, and live dealer games for casino enthusiasts.

FortuneJack

This is our second trusted bookmaker for Latvia and has been since 2014 when it began operations. FortuneJack has been working hard to build its reputation as a leading online casino and sportsbook. Known for their attention to detail, the crypto sportsbook features 30+ sports markets, including live betting and instant play tennis.

However, while the Fortune Jack sportsbook comes nicely equipped, the bookie is also known for its online casino. This was their first foray into online betting, and it showcases the best of the best in gaming and software developers. Bettors interested in the casino will find a long list of options such as slot, card games, and live dealer games.

Olybet

As our third top trusted betting site in Latvia, Olybet is licensed in the UK, Malta and Curacao. The resultant licensing allows this bookie to deliver Latvians a wide range of betting options. From sports betting to casinos, this is a bookie serious about surpassing expectations. Namely, the sportsbook comes packages with over 32 sports to bet on and over half a dozen esports. Among the features offered by Olybet are in-play betting, hundreds of daily events, virtual sports and various viewing functions.

Punting at OLYbet will also provide access to an online casino, live casino and casino tournaments. With a well-structured interface and multiple promotions, bettors will find Latvian-friendly payment methods, 24/7 support and solutions for mobile betting.

Betway

As one of the best betting sites in Latvia, Betway is known for sports betting and delivering a worldclass betting product. Established more than 15 years ago, the UK based company is licensed in Malta, the UK and abroad. They provide betting options for a large variety of markets and include esports, casino, and live betting. The main focus of their platform is sports betting and the 25 markets they cover.

Along with the usual mix of pre-match fixtures, Betway focused attention to its in-play platform. This is suitable for real-time betting and includes quick links, a list of upcoming events and more. The remaining markets are focused on those interested in non-sports related betting. At the moment, this includes ten esport variants, while the casino focuses on must win jackpots, table games and slots.

Choosing Betting Sites for Latvian Players

Whenever you’re in the market for the best sites for betting in Latvia, there are variables that come into play. To be proactive and help provide insight into the variables you need to consider, we have a list to consider:

• Odds – Let’s face it, the better the odds, the better the opportunity for increased profits. When choosing a bookie, compare odds and ensure they are competitive.
• Markets – The availability of markets plays an important role when punting on sports. Make sure the bookie’s available markets provide you with the flexibility needed for a successful betting strategy.
• Live Streaming – Beyond heading to your local pub, live streaming is a fantastic option for watching events live. Always check the availability of this feature when choosing a Latvian bookmaker.
• Bonuses – Top Latvian betting sites know the value in providing bonuses. If a bookie’s bonuses lack imagination, you may wish to reconsider your options.
• Live Betting – Another ingredient for a favourable betting experience is live betting. If live betting is not an available option, move on as this is a standard in sports betting today.
• Cash-out – The option to cash out bets ahead of an event’s conclusion is worth consideration. It increases your flexibility for an effective bankroll management strategy.

Facts about Gambling in Latvia

Gambling in the Republic of Latvia has been legal since 1998 when the country enacted the Law on Gambling and Lotteries. Until amended, the original legislation applied to all land-based gambling operations to account for online gaming. All gambling activities in Latvia fall under the responsibilities of the Lotteries and Gambling Supervision Inspection.

The Lotteries and Gambling Supervision Inspection is tasked with licensing and regulating casino gaming, poker, bingo, sports betting, fantasy betting, lotteries. Social gaming is not regulated under the current gaming laws, nor are skill games. For operators to legally offer gaming services, they must receive a license from the Lotteries and Gambling Supervision Inspection. Licenses are only issued after the vetting process and confirmation the operator meets the lessening requirements for the relevant gambling product.

• Currency: Latvian Lats
• Population: 1.902 million
• Active Players: Unknown
• Designated Authority: Lotteries and Gambling Supervision Inspection
• Regulated Gambling Products: Casino, lottery, poker, bingo, sports and fantasy betting
• Types of Operators: Land-based and offshore operators

Did you know that?

• The greatest source for revenue from gaming related products in Latvia is gambling machines. They account for over 56 million euros in annual profits.
• Even though gambling has been legal in Latvia since 1998, online gambling wasn’t legal until 2007.
• Less than 6% of Latvians suffer from behaviour associated with problem gambling.

Guide to Betting at Latvian Bookmakers

Based on the friendly betting laws present in Latvia, betting with a Latvian bookmaker is not difficult. As such, to assist punters wishing to bet at Latvian bookmakers, we have put together the steps they need to follow:

1. Choose a bookmaker from our list of trusted bookmakers in Latvia.
2. Open an account and verification your registered email address.
3. Choose a payment method and fund your account.
4. Select a betting market and compare the odds.
5. Enter your stake amount.
6. Submit your betslip.

Overview of The Latvian Gambling Industry

The Latvian betting market is populated with a varied collection of sports and casino betting opportunities. The advantages to this for Latvians interested in gambling is the increased regulation and safety measures. Regulatory oversight is what makes betting in the country safe and reduced and restrictions other Baltic counties may experience.

While this is undeniable, there remains the question of its legality online and whether taxes are applied to gambling winnings. To address those issues and any potential restrictions, the answers to are provided below:

Is Online Betting Legal in Latvia?

Online betting became legal in Latvia in 2007 when its gambling laws were amended to include online gambling sites. This includes sports betting, casino, poker, fantasy sports, and lotteries.

Do International Bookmakers Restrict Latvian Players?

Ultimately, this will depend on the individual bookmaker and the software suppliers it uses who powers its sportsbook or casino. All software suppliers are required to be licensed, and based on the class of licenses, some games may be restricted to Latvians.

Does the Government Tax Bettors?

According to the laws relating to gambling taxation, Latvian players are not required to pay taxes on winnings less than €3,000. However, on winnings between €3,000 and €55,000, the taxes are 24%, and for amounts over €55,000, the taxation rate is 31.4%.

Bonuses on Offer

The one thing the best online bookies in Latvia have in common is their willingness to offer Latvians bonuses. The most attractive bonuses you will see when putting online are deposit-themed such as welcome offers. Above and beyond, most bookies extend their bonus offers to include everything from odds boosts to reload bonuses and ACCA’s.

Where this really takes shape is the structure of those bonuses and how they relate to punting. For the most part, this is minimal but will impact the availability of markets at times or the wagering terms. Still, they offer excellent opportunities, especially for budget-minded bettors.

Favourite Sports for Betting

Like all Baltic nations, the favourite sports for betting in Latvia are ice hockey, basketball, motor racing and athletics. While other sports play a predominant role in Latvian society, these have proven to be historically more popular than others. To provide some assistance information relating to their overall popularity, brief explanations are provided below:

• Ice Hockey
  The first ever recorded ice hockey game in Latvia was in 1909, understandably the sport is a part of Latvian society. Today, the sport is widely played in amateur leagues and professionally in the Latvian Hockey Higher League.
• Basketball
  Basketball has a history in Latvia that dates back to 1923 when the Latvian Basketball Association was founded., Since that time, the Latvia-Estonian Basketball League has gained a loyal following and is a major reason for the sport’s popularity.
• Motorsports
  Motorsports, including Formula One, Rally and Touring car, are Latvia’s second most favourite sports. In addition, the Baltic Endurance championship is closely followed.
• Athletics
  Athletics have played a role in Latvian society and is celebrated annually during the Latvian Athletics Championships. Its most popular competitions include the Baltic Indoor Athletic Championships and Junior Championships.

Are Online Casinos Popular?

As of 2007, when online betting was inducted into Latvian gambling laws, online casinos began to grow in popularity. Subsequently, the legalization of online casinos brought them to the spotlight and increased their awareness of Latvians’ bettors. Today, many online casinos have been issued licenses by the Lotteries and Gambling Supervision Inspection. Included among the games online casinos are legally allowed to offer are slots, card games, live games, scratchcards, lottery, bingo, and poker.

Common Payment Methods for Latvian Bettors

Similar to other European Union countries, Latvians enjoy the liberty to fund accounts using a wide variety of payment methods. The payment methods they can avail include debit cards, online ewallets, credit cards, bank transfers and cryptocurrencies. While some nations tend to favour one method over another, the payment preferences for Latvians lean towards credit cards. Mainly, this is resultant on convenience and reduced transaction fees.

Mobile Wagers

Latvia is home to a robust 3G and 4G mobile network. While 5G is slowly making its way into the country, the networks are reliable and sufficient for mobile wagers. As such, bettors can choose between mobile websites and apps and wager without fear of network interruptions.

If comparing the two options side-by-side, the difference is minimal at best. Subsequently, the use thereof of either is based on preference preferences versus functionality. Thankfully, the majority of bookies in Latvia offer mobile betting solutions. All of those featured in our top 4 trusted betting sites are iOS and Android compatible. Therefore, Latvians are free to bet via their mobiles without fear of network interruptions.

Our Top Pick

According to our experts at Silentbet, our top pick for Latvian bettors is Betsafe. Betsafe has a documented history of offering some of the best odds in sports betting. Having been founded in 2006 is proof alone in the value and dedication this bookie offers punters. However, its greatest value is seen in the design and layout qualities and variety of markets they cover.

Part of their appeal and a quality that lends credibility to its “Top Pick” status is options for in-play betting. Complemented by live streaming and a thoroughly entertaining online casino, it is hard not to find Betsafe a top betting site.

Final Words

Latvians are presented with the freedom to choose between a full range of options when it comes to gambling. Those freedoms are directly correlated to Latvia’s liberal laws relating to land-based and online gambling. As a Balkan nation formally part of the USSR, the outlook is refreshing, even more so considering they enacted laws shortly after independence. Resultantly, Latvians have the same freedoms as other EU nations and the added sense of comfort of knowing their gambling industry is regulated.

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