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Spike in Lithuanian iGaming Couldn’t Help Gambling Industry

8 February 2021, 14:11
Votes: 1

Lithuania reports a considerable decrease in the revenue generated by the gambling industry in 2020. Although the online sector saw a financial influx, great losses in the land-based market caused the overall decline.

Spike in Lithuanian iGaming Couldn’t Help Gambling Industry

The industry’s revenue fell by more than eight percent the previous year. The country’s gambling market of 2020 is estimated at €103.5 million.

Land-based sector pulled the whole industry back

The pandemic and lockdown became drivers for the growth of the digital gaming vertical in Lithuania. The news about the casino sector, namely its online segment, was positive as iGaming saw a 64.3% rise in revenue. Players spent more than one billion dollars on digital entertainment, which allowed the market to reach a sum of €59.6 million.

The slots with unlimited payouts were the most popular product during the lockdown, and it became the major revenue booster, bringing €29.4 million. Betting on sports also showed good performance with an increase of more than ten percent. Digital table games were interesting for customers as well – they spiked to €1.9 million. This success didn’t touch on brick-and-mortar gambling establishments, which were urged to close their doors for a long period. The decrease shook all land-based verticals – the amount of money generated from players’ bets fell by 39.5% in 2020.

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