TonyBet announces Latvian market entry following €1.5m investment
Operator continues its expansion within Baltic markets with the launch of its tonybet.lv platform
TonyBet has launched itself into its third Baltic market with the unveiling of its tonybet.lv platform following €1.5m (£1.3m) internal investment.
The licence was approved by the Republic of Latvia’s Lotteries and Gambling Supervisory (IAUI).
Valters Rozmanis will lead the Latvian business as country manager of TonyBet in Latvia.
On his appointment and the launch in Latvia, Rozmanis said: “Although there is considerable competition in this sector in Latvia, I am sure that there is still room in the market for a strong, international player with a different platform and a great range of football-focused products.
“We will take special care to provide players with not only an exciting and innovative gaming experience but also that the services provided are offered in a responsible manner and environment,” he added.
The brand will focus on football and allow players to bet on teams locally and worldwide. The launch will be followed by targeted marketing campaigns, including football partnerships with Latvian football sides, with the aim of establishing the brand ahead of the World Cup in November.
At the time of writing, there are currently 20 online gambling licenses issued in Latvia, including Entain’s Optibet and Olympic Entertain Group’s Olybet.lv.
Victors Troicins, CEO of TonyBet Group, noted: “Currently, the development focus of TonyBet is on the Baltic states, Spain and the UK, and we are pleased to start our operations in Latvia. For players in Latvia, we are committed to providing safe, secure, innovative and exciting online gaming.
“We will adopt our 11-year international experience and best practices regarding the protection of players from possible risks created by the industry, and we will also implement them in Latvia, for example, through Neccton, which is an innovative, digital solution created in Austria to promote customer protection.”