Riga Gaming Congress Opens in Latvia in October
Date Posted: August 16, 2017
The first-ever Riga Gaming Congress will take place in Latvia on Oct. 12, paving the way for the iGaming industry in the country to reach new heights.
The congress will showcase the latest innovations in the iGaming market. There will be presentations on the current trend or state of the iGaming market, along with dynamic interactions among industry experts, enthusiasts, and more. Although not the primary focus of the event, the Bitcoin sportsbook industry may benefit from the congress in the long run.
Riga Gaming Congress
Visitors to the Riga Gaming Congress 2017 can expect many things. One of which is to see the latest machines, games, systems, and other gambling products on the demo floor.
This congress attracts various iGaming companies and experts from different parts of the world. Companies will take this chance to showcase its latest products to the international audience present in the congress. This is a good chance to get a hands-on impression of what is coming to the iGaming market.
Attendees can also expect a series of presentations in the conference. These presentations touch upon certain aspects of the iGaming industry like the increasing popularity of daily fantasy sports in the EU region. Another is the current state of VR casinos.
A good part of the presentation will tackle Latvian iGaming industry. Those interested in reaching out to the country’s market will find the presentation about Latvian licensing and its regulation laws. The speaker for the presentation about Latvian licensing is Vladimirs Remi who co-owns Montazure.co.uk. The moderator and speaker for the presentation on cryptocurrency is Max Krupyshev, Cubits COO.
Visitors of the Riga Gaming Congress can take the opportunity to network with many important people in the iGaming industry. Smile Expo, the organizers of the event, ensures that there are many opportunities for attendees to casually meet with each other during the congress.
Latvia iGaming industry
Gambling is regulated in Latvia since 1994 that taxes lotteries and gambling establishments. In 2003, the country passed its online gambling regulation law. However, it took five more years before Latvia gave its first license to Optibet in 2008. Bettors in Latvia started visiting other major sportsbook and online casinos during this period.
The government keeps changing and modifying its online gambling laws. In an effort to bring visitors to its licensed casinos, the Latvia regulation office blacklisted a majority of gambling websites in 2014. This blacklist blocks local bettors and players from visiting iGaming sites.
The blacklisting of unlicensed gambling sites resulted in positive revenue earnings. The online revenue of the country reached €18 million in 2016. This is four times more than what the country earned in the last two years. Latvia might improve its numbers if it can get more attention from the international community. This is one of the possible reasons why it is hosting the first Riga Gaming Congress.