Lithuania’s Gambling Sector Enjoys Stable Growth in H1 2024
The Lithuanian gambling industry enjoyed a growth spurt in the first half of 2024, with revenue increasing by 12.6% year-on-year to €116 million.
Lithuania’s gambling revenue increased by 12.6% in the first half of 2024.
LISTEN TO THIS ARTICLE:This strong performance is largely attributed to the booming online gambling sector, which has successfully counterbalanced a decline in the land-based gambling market.
Online Gambling Drives Revenue Surge
Online gambling in Lithuania saw impressive growth, with revenues climbing by 12.5% from the previous year, reaching €72.2 million. This rise is fueled by increased player expenditure, which grew by 8.7% to €1.05 billion, resulting in total winnings of approximately $973.1 million.
Within the online sector, Category A slots have emerged as top performers. These slots, which allow unlimited winnings, generated €53.5 million in revenue, surpassing all other segments in both the online and offline markets. Player engagement with Category A slots was notably high, with spending hitting a record €627.7 million, up 6.2% compared to the previous year.
Related: Lithuanian Parliament Proposes Stricter Guidelines on Gambling Advertising
On the other hand, Category B online slots, which feature capped stakes and winnings, showed minimal growth, with revenue stagnating at €1.8 million. In contrast, online table games performed better, with revenue increasing by 11.7% to €6.7 million.
Sports betting also recorded modest growth, with revenue rising by 1.6% to €19.3 million. The amount wagered by players in this category increased by 2.4% to €289.0 million, indicating sustained interest in sports betting despite changing market dynamics.
Land-Based Gambling Declines
Lithuania’s land-based gambling sector experienced a downturn in the first half of 2024. Revenue from this segment dropped by 4.4% to €34.7 million, alongside a 5.6% decrease in player stakes, which totaled €217.8 million.
According to the Lithuania Gaming Control Authority, H1 revenue was clear of the €108.5m reported in the same period last year.
Among the land-based options, Category B slot machines led in revenue generation, bringing in €14.4 million. However, this figure represents a 6.5% decline compared to the previous year. Player spending on these slots also fell by 6.5% to €92.1 million.
In contrast, Category A slot machines saw a revenue increase of 5.3%, reaching €7.9 million, with player stakes rising by 4.7% to €31.8 million. Revenue from land-based table games decreased by 9.1%, totaling €8.0 million. Retail sports betting revenue also declined by 6.4%, amounting to €4.4 million.
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Lottery Sector Experiences Positive Growth
The lottery sector in Lithuania reported favorable results, with gross gaming revenue rising by 6.2% to €32.7 million in the first half of the year. This growth is largely due to a 4.0% increase in ticket sales, which reached €70.9 million. The number of tickets sold grew by 1.1% to 50.4 million, while player winnings from lotteries increased by 2.3% to €38.1 million.
The Lithuanian gambling industry has made a significant contribution to national tax revenues, generating €37.6 million from total gambling activities. Of this, €24.1 million was collected from gambling operators, while €13.5 million came from lottery providers.
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