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Fine imposed on UAB Baltic Bet6 December 2024(PRESS RELEASE) -- The Gaming Supervision Authority under the Ministry of Finance of the Republic of Lithuania imposed a fine of EUR 30,000 on the gambling operator UAB Baltic Bet for violating Article 18(1) of the Law on Gambling of the Republic of Lithuania. On 26 March 2024 a complaint was received from the petitioner before the Supervisory Service against the company's decision to cancel 13 (thirteen) betting events for which the petitioner placed bets. The company's decision to cancel 13 (thirteen) betting events for which the petitioner placed bets was taken on the basis of paragraph 56 of Annexure No. 1 to the Company's Remote Gambling Regulation (hereinafter referred to as the Regulation): ,,56. If the bookmaker made a fundamental mistake when betting with the gambler (obviously the odds of the betting, the comma omitted, the positive sign in the advantage is swapped with the negative, the additional supply of the betting event does not correspond to the supply of the main outcomes of the same event (winner, total, advantage, etc.), the odds of the outcome are fundamentally different from the odds of the same outcome in the offer of other betting companies, including those offered at the time of placing the bet) and this the error was detected by the bookmaker after the start of the betting event, it is the betting operator who, in accordance with the written decision of the manager, cancels the betting and suspends the payment of the winnings." Following an unscheduled special inspection of the company, order No DIE-653 of 5 December 2024 of the Director of the Supervisory Service found that the company had wrongly applied the cancellation of 13 (thirteen) betting events for which the petitioner had placed bets on the basis of the provision contained in paragraph 56 of the Company's Regulation (betting is cancelled when the outcome coefficient "substantially" differs from the same outcome coefficients in the offer of other betting companies at the time of acceptance of the bet), since it did not have a set of criteria for an objective assessment of whether the betting odds offered by the company were "substantially" different from those of other betting companies, thus violating Article 18(1) of the ACLU (gambling is organized in accordance with the Gambling Regulation). Decisions taken by the Supervisory Service are not final and may be appealed in accordance with the procedure established by the Law on Administrative Proceedings of the Republic of Lithuania. Possible violations are examined and proposals for a decision on the imposition of a fine and the determination of its amount are submitted by the Advisory Commission, established by order of the Director of the Supervisory Service, for the adoption of a decision on the imposition of a fine and the determination of its amount.
Fine imposed on UAB Baltic Bet
is republished from iGamingNews.com.
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