As the latest financial news informs, the Lithuanian gambling market continues to recover from the effects of the global pandemic. In 2021, the annual gross gaming revenue (GGR) increased by 31.6% (or €32.7 million) from the 2020 level.
The Lithuanian gambling authority – the Gambling Supervision Service – reports that in 2021, the total GGR amounted to €136.2 million. The total amount of €1.86 billion was placed in bets, and €1.72 of it was paid out as winnings.
The gambling watchdog also disclosed information about lottery sales that were 21.4% higher than in 2020, reaching €129.11 million by the end of 2021. The gambling and lottery companies also paid €23.67 million in gambling tax.
Financial results by gambling sectors
In 2021, the brick-and-mortar gaming venues were closed for a total of four months due to pandemic-related restrictions. So, the land-based gambling revenue in Lithuania dropped by 22.5% from the 2020 results, amounting to €34 million. The most profitable games of chance were category B slots with €0.5 per spin cap on stakes and a 200x limit on winnings. These slot machines generated €14.8 million GGR, which is 27.1% lower than in 2020. Slots were followed by table games with €8.1 million revenue (20.5% year-on-year decrease) and uncapped category B slots with €7 million GGR (9.8% YoY drop). And only €4.8 million was collected from the retail sportsbooks, which is 28.6% lower than in 2020
At the same time, revenues in the online gambling sector were 71.5% up from 2020, reaching €102.1 million by the end of the year. So, the iGaming sector was the main growth driver for the Lithuanian gambling market. Most of the online GGR came from the category A slots with €59.6 million annual profits, which is almost double of the 2020 results. Online betting revenue reached €34.2 million (29.4% more than in 2020), followed by the online table games with €5.8 million revenue and 205.7% increase. Non-capped online slots of category B generated €2.4 million, which is 94.8% more than in 2020.
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