TonyBet 's Grand Debut in Latvia After $1.5 Million Investment

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2022-09-25

TonyBet has been looking to assert its dominance in the Baltic region for quite some time now. To achieve that, the operator pumped a whopping $1.5 million to begin operations in Latvia. Latvian bettors will access the operator’s sports betting and online casino services via the TonyBet.lv website. 

TonyBet 's Grand Debut in Latvia After $1.5 Million Investment

The gambling website was issued the license after rigorous vetting and approval by the IAUI (Lotteries and Gambling Supervisory) of the Republic of Latvia. To get a permit from the body, an operator must have at least €1.4 million in share capital, and all games must be eCOGRA certified. 

The operator must also have a positive reputation and criminal record. So, it’s safe to say that Latvian online bettors are in safe hands with TonyBet.lv. 

TonyBet to offer innovative technological solutions

The latest development will see Latvian online bettors enjoy the latest technological solutions created by SoftLabs, an international company with specialists in Riga. 

TonyBet Latvia will offer a full range of entertainment products, including an online casino, live casino, sportsbook, and sports game forecasts. TonyBet.lv will also focus on offering competitive soccer odds, especially now that the 2022 FIFA World Cup is fast approaching. 

TonyBet has an international reputation for promoting responsible online gambling behavior, and they are looking to maintain the tradition in Latvia. Online patrons can expect to gamble in a safe, secure, and transparent environment. Interestingly, the company is already a Latvian Interactive Gambling Association member. This body presents a collective gambling opinion to the Latvian government. 

TonyBet to face stiff competition in Latvia

Valters Rozmanis, TonyBet’s leader in Latvia, said that they expect cut-throat competition in the Latvian market. However, he was confident that there was still enough room to accommodate a strong international player with a range of gambling products, primarily focused on soccer. He revealed that TonyBet is already negotiating with leading Latvia soccer organizations to begin cooperation.

TonyBet Group CEO, Viktors Troitsins, said that the operator’s current focus is on cementing its status in the Baltic States, Great Britain, and Spain. He also affirmed TonyBet’s commitment to protecting Latvian players from online risks. To achieve this, the CEO said TonyBet would hire Neccton, an innovative digital solution that promotes customer protection. 

Besides being licensed in Estonia, TonyBet is also legal in the strictly regulated UK gambling market since 2014. TonyBet also has licenses from the Malta Gaming Authority, Government or Gibraltar, and Kahnawake Gaming Commission. The online sportsbook cum online casino is in the advanced stages of launching in Ontario once they get the nod from iGambling Ontario and the Alcohol and Gaming Commission of Ontario. 

TonyBet partners iSoftBet to expand its Europe footprint

It looks like TonyBet has declared a relentless assault on the European gambling market. On September 12, the Estonian-based company announced a new partnership with iSoftBet, a leading online casino content provider. 

The agreement sees iSoftBet’s entire gaming catalog, including recent hits like the Gold Digger series and Ocean Hunter, go live on TonyBet Casino. The games will be available in Spain, Latvia, Portugal, and the Netherlands “pretty soon.”

The TonyBet deal is the latest of its kind for iSoftBet after the international gaming company sealed multiple agreements in recent months. Those include gaming deals with Lowen Play, Alphabet, and Eyas Gaming. 

Lars Kollind, iSoftBet’s Head of Business Development, commented that the TonyBet partnership is an exciting development for iSoftBet as they look to expand their industry reach in Europe. Kollind noticed TonyBet’s operations in numerous vital jurisdictions, where they hope to supply their games. 

On the other hand, TonyBet’s Key Account Manager, Davis Skuite, said that the iSoftBet addition brings much-needed content diversity. He said the online casino is excited to offer players leading Megaways slots and the innovative Hold and Win titles from iSoftBet. It’s undoubtedly a win-win situation for both parties.

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