Latvia Reports One-Third Decline in Budget Income from Gambling

Latvia’s budget revenues from the sectors of lottery and other gambling for 2020 has shown a 33.9% decrease year on year. The Latvian treasury has received 8.4 million euros less from gambling business in the first two quarters than during the same period last year. The received income is 9.3% less than the projected figure.

The obvious reason for decline is the reduced gambling activity during the Covid-19 pandemic. The government has also offered a grace period of six months for tax payments, which also contributed to the low inflow to the treasury.