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New Report Says Lithuanian Online Casinos, Bookmakers and Offline Venues are at Risk of Money Laundering

Niji Narayan

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New Report Says Lithuanian Online Casinos, Bookmakers and Offline Venues are at Risk of Money Laundering
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A new report by the analysts revealed that Lithuanian online casinos, bookmakers and offline venues are at the risk of money laundering.

According to analysts, the risk of money laundering for land-based casinos in Lithuania on a scale of 1 to 4 is estimated at 4, for lotteries – at 2, and for the online gaming, slot machine simulators, online betting – at 3.

The casino sector is at risk because its operations are based on a significant amount of cash flows that are attractive to organised crime groups, politically significant persons and people arriving from high-risk countries for money laundering, the report says.

The online gambling industry is attractive to criminals due to the high volume and fast execution of transactions, as well as low identification requirements, which allows them to easily convert illegal funds into legitimate gambling earning.

The report also indicates that the gambling supervisory authority in the country is not sufficiently prepared to deal with the threat of money laundering in casinos.

“The number of investigations conducted by supervisors during 2016-2018 is insufficient and not proportional to risk. This may be due to a lack of human resources in the department, in which three employees devote only 15% of their time to supervision of money laundering issues.”

The report proposes casinos, slot machines and bookmakers to introduce debit cards to easily track the transactions, set limits on cash deposits, use customer cards to control gaming activity, and conduct checks in the style of a “mystery shopper” by the supervisor.

Baltics

Nolimit City cuts the ribbon on Lithuania with Cbet.lt partnership

George Miller

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Nolimit City cuts the ribbon on Lithuania with Cbet.lt partnership
Reading Time: 2 minutes

 

Cbet.lt showcases Nolimit City games exclusively at home state of Lithuania.

Addressing the ever-growing landscape of exciting markets in the EU has been on the agenda for the Malta based supplier for a while now. The partnership is the first from a healthy list of upcoming markets ahead. Lithuania sees a robust gambling regime which bolster a healthy forecast in sight.

This marks the first of such kind partnership thanks to the young and ambitious home-grown Cbet.lt, who offer the full entertainment experience to Lithuanian players who come to the brand for several reasons, most notably their great choice in sports trading library not to mention a great choice of slot games.

Cbet.lt will be the first to host the Software Provider’s list of popular game titles on an exclusive first to market collaboration ahead of the curve. The two joint forces with one scope in mind, that’s to deliver a class experience whilst also exposing both brands. Cbet.lt have gone live with some of Nolimit City’s most known titles, including; Tombstone, Punk Rocker and Deadwood amongst several other great titles.

Malcolm Mizzi, Commercial Director at Nolimit City, said: “Entering a new market is always exciting. Having an excellent partner to share that excitement with makes this an extra special achievement. We’re proud to be showcased on the trendsetting Cbet.lt and hope to see our games become household favourites!”

Karolis Gogaitis, General Manager at Cbet.lt, added: “At Cbet we are always looking for something special and specific and that distinguish us from other market brands. Nolimit City has established their position in online casino market by offering high-quality and unique content which is presented in most creative and user-friendly way. Having a chance to be the very first operator in Lithuania market who will be showcasing such well known titles of Nolimit City as: Tombstone, Punk Rocker, Barbarian Fury and many more successful titles, is a tremendous opportunity for both parties to reach more visibility, differentiation and last but not least future business goals.”

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Baltics

Altenar announced as Pen, Paper and Pamper Sponsor at MARE BALTICUM Gaming Summit 2020 (Tallinn, Estonia)

Zoltan Tundik

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Reading Time: 2 minutes

 

Award-winning provider of sportsbook services will join the sponsors’ list at MARE BALTICUM Gaming Summit (live conference).

The 3rd edition of MARE BALTICUM Gaming Summit and BSG Awards will be held on the 6th of August in Tallinn at Radisson Blu Hotel Olümpia Tallinn, and will address burning questions of the industry in Estonia, Latvia, Lithuania, Sweden, Denmark, and Germany.

Launched in 2018, MARE BALTICUM Gaming Summit, also known as the Baltic and Scandinavian Gaming Summit & Awards offers the opportunity for both new companies and veterans, to learn about industry insights and compliance update, while also being part of a group that is at the forefront of the gambling industry in Baltic and Scandinavian region.

The Summit approaches all regulatory and compliance related aspects of the mentioned markets, and also highlights some trending topics of the gambling industry.

Order your Delegate Pass or VIP Package (Delegate Pass +Accommodation) now!

Our team is are honored to announce that in 2020, we will have the support award-winning provider of sportsbook services, Altenar as the PEN, PAPER AND PAMPER SPONSOR of the event.

As mentioned above, Altenar is a provider of sportsbook services to licensed gaming operators. Ranging from “software-only”​ product offers to the provision of a fully managed sports betting platform stack, Altenar offers proven stability coupled with flexible and personalized service.

Their software is developed and operated in-house, whilst being powered by premium quality data feeds.

You can view their latest video on the following link:

As mentioned in earlier press releases, the conference is going ahead as planned and based on official sources, Estonia has allowed from June 1 for citizens from EU and EEA countries with a slow current spread of COVID-19 to enter the country without the requirement of a 14-day self-isolation period.

You can consult the list that is updated weekly on the following link.

MARE BALTICUM – The Baltic and Scandinavian Gaming Summit will once again bring together the leading companies in the Baltic and Scandinavian region for a full day of quality learning and networking with local regulators and industry experts.

You can find more details about the Agenda here or you can register here!

Browse the official event website here: www.marebalticumgaming.com

You can view the photo gallery from the inaugural event on the following link.

For further inquiries about the 2020 live edition of MBGS and BSG Awards (6 August – Tallinn, Estonia), speaking/attending/sponsoring options, make sure to send an e-mail to Andrada Bota (B2B Sales Executive at Hipther Agency) or subscribe to the weekly newsletter on the following link.

For media-related inquiries, please contact Alexandru Marginean (Marketing Specialist at Hipther Agency).

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Baltics

Market rundown by the Baltic industry shareholders at MARE BALTICUM Gaming Summit 2020 (Tallinn)

Zoltan Tundik

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Image by Nick Tomlinson from Pixabay
Reading Time: 2 minutes

 

Leading industry experts will dissect the latest happenings in the Baltics this August in Tallinn at the 3rd edition of MARE BALTICUM Gaming Summit (live conference).

 

On the 6th of August, several industry leaders from the Baltic and Scandinavian region will gather under safe conditions in Tallinn at Radisson Blu Hotel Olümpia Tallinn for a day of panel discussions, round table discussions and networking.

The mission is sailing out of these uncharted waters in which the industry finds itself due to the COVID-19 lockdowns.

Among the interesting talks, a particular panel discussion must be watched closely. We are referring to the “Market Rundown by the industry shareholders: Estonia, Latvia and Lithuania” panel discussion which will be moderated by Dr. Simon Planzer (Partner at PLANZER LAW).

The panel will be joined by some of the biggest names in the industry and include Liutauras Varanavičius (Head of Business Development at ConnectPay), Dainis Niedra (Managing Director Central & Eastern Europe at Enlabs), Kaido Ulejev (Commercial Director CEECA at Betsson Group) and Karolis Gogaitis (General Manager at CBet.lt).

As mentioned about, the panel discussion is very important to attend as it will follow the Baltic regulators’ panel discussion.

Make sure to book as fast as possible as the seating is limited! You can choose one of the packages that include either delegate pass or delegate pass and accommodation combo (VIP Package)!

As mentioned in earlier press releases, the conference is going ahead as planned and based on official sources, Estonia has allowed from June 1 for citizens from EU and EEA countries with a slow current spread of COVID-19 to enter the country without the requirement of a 14-day self-isolation period.

You can consult the list that is updated weekly on the following link.

As in earlier years, the conference will also feature the next edition of the Baltic and Scandinavian Gaming Awards (BSG Awards). Read more here…

MARE BALTICUM – The Baltic and Scandinavian Gaming Summit will once again bring together the leading companies in the Baltic and Scandinavian region for a full day of quality learning and networking with local regulators and industry experts.

You can find more details about the Agenda here or you can register here!

Browse the official event website here: www.marebalticumgaming.com

You can view the photo gallery from the inaugural event on the following link.

Browse the video archives of the panel discussions which were recorded on the 7th of May at the virtual edition of the conference.

For further inquiries about the 2020 live edition of MBGS and BSG Awards (6 August – Tallinn, Estonia), speaking/attending/sponsoring options, make sure to send an e-mail to Andrada Bota (B2B Sales Executive at Hipther Agency) or subscribe to the weekly newsletter on the following link.

Visit www.marebalticumgaming.com for more details!

For media-related inquiries, please contact Alexandru Marginean (Marketing Specialist at Hipther Agency).

MARE BALTICUM Gaming Summit Live and BSG Awards

MARE BALTICUM Gaming Summit, also known as the Baltic and Scandinavian Gaming Summit & Awards offers the opportunity for both new companies and veterans, to learn about industry insights and compliance update, while also being part of a group that is at the forefront of the gambling industry in the Lithuania, Latvia, Estonia, Sweden, Denmark, and also from the DACH region.

The Summit approaches all regulatory and compliance related aspects of the mentioned markets and also highlights some trending topics of the gambling industry.

For more details visit www.marebalticumgaming.com

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