VILNIUS, Lithuania – The Lithuanian Gaming Supervisory Authority has fined UAB Baltic Bet, operator of the Optibet brand, €468,350 for failing to properly verify the origin of customer funds, the regulator said this week.
The penalty stems from an investigation launched after authorities received information that an individual had lost substantial sums across several gambling operators, including Baltic Bet. Inspectors found the company did not collect required information about the customer or the source of funds used for gambling before allowing play, a violation of Lithuania’s Law on the Prevention of Money Laundering and Terrorist Financing.
Regulators said the operator lacked sufficient data to monitor the customer’s gambling activity or identify suspicious transactions. Baltic Bet also failed to ensure that information on suspicious monetary activity was submitted to the Financial Crimes Investigation Service, which investigates financial crime in Lithuania.
The authority concluded that Baltic Bet did not meet legal obligations related to customer due diligence, ongoing monitoring of business relationships and assessment of individual money‑laundering and terrorist‑financing risks. These requirements form the core of Lithuania’s anti‑money‑laundering framework for licensed gambling operators.
When determining the fine, the regulator considered both mitigating and aggravating factors. Baltic Bet had no prior violations tied to anti‑money‑laundering rules and cooperated with inspectors, and the regulator said there was no indication the breaches were intentional. However, the failings persisted for more than a year, and the company received financial benefit from the customer’s gambling activity.
The Gaming Supervisory Authority said it provides annual training and mandatory guidance to gambling and lottery operators to strengthen compliance with anti‑money‑laundering and counter‑terrorist‑financing requirements. The company may appeal the decision in court.
