The Gambling Supervision Service, the gambling regulatory body under the Ministry of Finance of the Republic of Lithuania, has disclosed information related to a recent inquiry into the operations of Lošimų strateginė grupė UAB, often known in the industry as Betsafe. An official announcement on Monday from the regulator informed the triade that it had carried out an audit on the firm, where it discovered infractions concerning online gambling regulations.
As per the proclamation issued by the Gambling Supervision Service, Betsafe found itself on the wrong side of the law from January 2 to January 4 of the current year. The related transgressions pertained to the operation of a remote gambling software by Ezugi, known as Sic Bo.
The gambling oversight agency stated that Betsafe had not procured the necessary approval for the said solution, a blatant violation of Article 16, Part 5, and Part 5.1 of the Gambling Law of Lithuania. Coupled with this, the Lithuanian Gambling Supervision Service accused Betsafe of disregarding the rules by failing to obtain the authorization for offering the remote gambling solution.
The Company’s Cooperation with the Gambling Regulator
The gambling regulator pointed out that it had identified mitigating circumstances during its investigation into the gambling operator’s activities. Betsafe was found to have cooperated fully throughout the enquiry, providing all the necessary information and explanations. Simultaneously, the Supervisory Service stated that the iGaming operator had never been penalized for such contraventions and had discontinued the said offering as soon as it was informed.
The gambling oversight body further recognized that Betsafe had neither profited nor secured any material benefits directly resulting from the infractions, and none of the gamblers incurred any losses due to these contraventions. In addition, the Supervisory Service in Lithuania stated that it found “no aggravating circumstances”.
Taking into account the mitigating circumstances mentioned above, the Lithuanian Gambling Supervisory Service regarded Betsafe’s violations as “insignificant”. As such, it announced that it has decided not to impose any kind of sanctions or penalties on the gambling firm.
Betsafe’s dodging of the punitive measures in Lithuania follows the regulator’s enforcements on Baltic Bet with fines. The gambling regulator revealed last month that it levied a fine exceeding $18,000 against the operator for violating gambling advertising rules enforced in the country. As per the authority, the infractions occurred between November 3, 2022, and February 28, 2023. It reported that Baltic Bet’s website displayed content encouraging individuals to gamble, a prohibited action that breaches the gambling advertising regulations.
