A spokesman for the Latvian Gaming Business Association told the Vostok Report that the unlicensed online gambling market within the country of 2.2 million people is worth about €17.4 million.
The Vostok Report got the statement during an interview with Nozare.lv, Arnis Marcinkēvičs, who is with the LGBA. The information comes from data which showed the gambling and casino codes that are applied to financial transactions.
Reportedly online gambling legislative reform is set to be introduced in 2012 by the Latvian Lotteries and Gambling Supervisory Inspection and the Ministry of Finance. The changes to the online gambling market have reportedly already been drafted by the two government bodies.