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UAB Baltic Bet hit with a fine 1r1q654 June 2025(PRESS RELEASE) -- The Gaming Supervisory Authority under the Ministry of Finance of the Republic of Lithuania imposed a fine of 29,430 euros on the gaming organizer UAB "Baltic Bet" for violating Article 18(1) of the Law on Gaming of the Republic of Lithuania, which establishes that gaming is organized in accordance with the Gaming Regulation. On August 16, 2024, the Supervisory Service received a complaint from the Applicant regarding, in his opinion, the Company's unjustified cancellation of his bets. The Company made the decision to cancel 5 (five) bets placed by the Applicant on betting events based on paragraph 56 of Annex No. 1 to the Company's Remote Gambling Regulations (hereinafter referred to as the Regulations): ",,56. If the betting organizer, when placing a bet with a gambler, made a fundamental mistake (obviously incorrect betting coefficient, omitted comma, positive sign in the advantage swapped with negative, additional offer of a betting event does not correspond to the main offer of the same event outcomes (winner, total, advantage, etc.), the outcome coefficient is fundamentally different from the coefficients of the same outcome in the offer of other betting companies, including those offered at the time of bet acceptance) and this error was identified by the betting organizer after the start of the betting event, then the betting organizer, acting on the written decision of the manager, shall cancel the bets and suspend the payout of winnings." After evaluating the collected information, the Supervisory Service made a decision to initiate an unscheduled special inspection of the Company in accordance with inspection order No. PT-34 dated 27 September 2024. After conducting an unscheduled special inspection of the company, the Director of the Supervisory Service, by order No. DIE-220 of 2 June 2025 "On the unscheduled special inspection of UAB "Baltic Bet" in accordance with the inspection order No. of September 27, 2024, PT-34" it was stated that after assessing the applicable legal acts, the circumstances indicated in the Applicant's complaint, the responses submitted by the Company and other betting organizers to the letters of the Supervisory Service, it should be concluded that the Company unreasonably cancelled 5 (five) bets placed by the Applicant based on the provision established in paragraph 56 of the Company's Regulation (bets are cancelled when the outcome coefficient "substantially" differs from the coefficients of the same outcome in the offer of other betting companies at the time of accepting the bet), since it had not established criteria based on which it would be possible to objectively assess whether the betting coefficients offered by the Company were "substantially" different from the coefficients of other betting companies, and thus violated Article 18, Part 1 of the ALI. Decisions made by the Supervisory Authority are not final and may be appealed in accordance with the procedure established by the Law on istrative Procedure of the Republic of Lithuania. Possible violations are examined and proposals for a decision on the imposition of a fine and its amount are submitted by the Advisory Commission for the adoption of a decision on the imposition of a fine and its amount, established by order of the Director of the Gambling Supervision Service. < Gaming News 6i422i UAB Baltic Bet hit with a fine is republished from iGamingNews.com.
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