Latvian Race Wagering

Latvia authorizes betting on horse racing events under license and fee guidelines set by the Lotteries and Gambling Supervisory Inspection. The first official license was awarded in 2000. Registrations are renewed on an annual basis, and operator profits must be less than 50% of the total amount wagered.

In the 1950s, there was live horse racing and betting at the hippodrome in Riga, but the facility was destroyed by fire in 1965. Betting activity became illegal until the country gained independence from the Soviet Union in 1991.

Remote betting on horse races makes up only a small part of the Latvian gambling market. Latvia imposes a 15% tax on betting-generated revenue in addition to an annual license fee of 30,000 lats.