Online Gambling laws in Lithuania can be a bit complicated sometimes. It is similar to any legal issue in any other country. Obtaining a gambling license in Lithuania were going through some changes in recent years. The Gambling Control Authority under the Ministry of Finance of the Republic of Lithuania (GCA) is regulating every part of the gambling industry.
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How to open an online gambling site in Lithuania – Obtaining a gambling license in Lithuania
If you want to open an online gambling site in Lithuania you have to be present Basically anybody can receive licenses to open a casino in Lithuania, however, they are connected to some land-based activity. You must have a casino there or five horse racing betting parlors, maybe ten slot machine halls or 20 betting points.
Process of applying for a gambling license in Lithuania
One of the most important aspects of obtaining a gambling license in Lithuania is that you are not a criminal. While casinos have a long history with organized crime, governments are trying to protect their laws with a big obsession. If you are a person who has a criminal record of crimes against people or property you will not be able to obtain a license. If you want to obtain a license you will have to submit an application form. The form has to state the company’s name, code, address and phone number along with further information on the company’s work. Also, the company will have to prove a huge number of property values in Euro.
The basic rules of gambling in Lithuania
The basic rules are nothing surprising just what you would expect. People are not able to make bets on events where they are taking part or have the possibility to manipulate the outcome of the sports event. As it is usual you are not able to make bets on sports events where your family members or relatives are participating. Bookies are only available to accept bets for legal games. No cockfighting for you guys, I am sorry. You can check out the available online sportsbooks in Lithuania to see what they have to offer. Betting from remote gambling devices are only available on horse racing or dog racing. In other cases, it is unfortunately not possible to run these machines.
The conditions to cancel a license – Obtaining a gambling License in Lithuania
There are some points which you should dully note. Your application is going to be canceled in these cases. If the shareholder of the company asks for cancellation. (Why would you do that?) Also, you will lose your chance to get pass by online gambling laws in Lithuania if you provide false data. I guess in this case you will have to face further consequences as well. If you are getting warned about something concerning your application you should obviously take it seriously. If you can’t fix any emerging problems your license application is going to cease to exist.