OEG Gets Lithuanian Sports Betting License

More OlyBet sports bars will open in Lithuania, as Olympic Entertainment Group was awarded a license to offer betting services in the country.

A new sports betting operator is coming to the gambling market in Lithuania. Olympic Casino Group Baltija, a sister company of casino developer Olympic Entertainment Group (OEG), has just been issued a license to offer their services to Lithuanian punters.

Lithuanians will come to know the new betting company under the OlyBet trademark – launched this August – which will start offering its services sometime during the first quarter of January 2014. The gambling company will also take advantage of this great opportunity to expand its network of OlyBet Sports Bars into Lithuania.

As expected, OEG will be developing an internet betting in Lithuania platform as well, so local punters will have a new trusted sports betting operator that they can access online. And then, who knows? Maybe a mobile sportsbook as well?

OEG operates in Estonia, Latvia and Lithuania and the company can most definitely afford to invest more into diversifying their services, as their overall revenues went up this year.

Currently, Lithuanian gambling laws don’t have any specific restrictions for online gambling, so foreign websites have made their way onto the market. There have been several discussions about changes to the current regulations for both online and offline casinos, but the only steps taken so far were to increase taxes.