Opportunity for crypto casinos as Latvia bans fiat igaming

Latvia’s bill to ban online gambling in the face of COVID-19 was signed by President Egils Letvis on March 22, 2020. It initially targeted land-based gambling and only recently extended to cover online operations with a few exceptions.

All online gambling operators will have to suspend all activities immediately, specifically all licensed companies authorized to conduct gambling under a Latvian licence.

The vacuum left by licensed gambling operators may give a unique opportunity to crypto casinos offering a premium, viable alternative while operating remotely.

Latvia has a comparatively progressive attitude towards the advantages of blockchain technology but has yet to regulate crypto gambling itself, which presents a window for crypto casinos to access a wealthy, tech-savvy audience who have been restricted from using their usual gambling sites.

The ban will continue through April 14 but it’s likely that the measures will be extended beyond that, therefore making solvent operation in the country impossible to any licensed gambling operator.

Looking for your next crypto casino? Check out Mega Dice or FortuneJack!

Written by Roman

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Roman is a big crypto enthusiast and a bigger sports fan, so crypto sports betting comes as a major interest for him. Has been involved with the gambling industry since 2017 and sees crypto as a major breakthrough for the payments side, specially beyond first world countries.