As the world reopens and the sports betting industry recovers and surpasses its pre-COVID popularity, it's no surprise that companies like Altenar are seeing increased interest in the Lithuanian market, as iGaming newcomers turn to the sports betting software provider.
Having operated in the market for some time, Altenar’s insights have proven not only valuable for those looking to enter the space, but have also demonstrated the steady growth and recovery of Lithuania’s sports betting market post-COVID.
Amid a year of expo comebacks, handshakes, and a general return to normalcy for the sports betting industry, some shifts have occurred within the market landscape—and with Altenar’s guidance, navigating the ever-evolving world of sports betting is far more manageable.
Altenar, the sportsbook software provider, embraces challenges because such moments often lead to the most innovative advancements—many of which emerged during the pandemic and within the Lithuanian market.
After compiling a series of market reports, Altenar identified how the Lithuanian market experienced rapid expansion. The company noted that revenue had risen to $155.8M by 2022, showing that iGaming had outpaced the decline in retail gaming.
But what else was Altenar able to uncover—for you—about the latest changes in the Lithuanian market?
From Retail to Online
Altenar also observed that as the market rebounded, a strong shift toward and adoption of online gaming took hold—mirroring trends seen in multiple global regions.
This retail decline was offset by stronger online performance, thanks in part to providers like Altenar, who make gaming efficient, engaging, and widely accessible. As this presence expanded, iGaming revenue surged by 71.5% to $102.1M. Simultaneously, customer spending rose from $1.02B to $1.63B, marking a strong annual increase for the online gaming market.
With iGaming on the rise in the region, it’s no surprise that both new and seasoned operators are looking to leverage Altenar’s sportsbook software and benefit from its wide-ranging advantages, market expertise, and cutting-edge technology—offered through partnerships with the popular sportsbook provider.
Altenar gives clients access to numerous data providers, traditional sports betting leagues, and virtual gaming options. But that’s not all—Altenar also delivers risk management services, outstanding customer support, and a proactive approach to implementing the features and improvements clients need.
The sportsbook software provider also offers a customizable front layer so clients can meet specific design preferences, and a partially manual backend that allows operators to adapt and update sports content based on market trends—while also generating essential reports.
If you’re looking to take advantage of Altenar’s sportsbook software or want more information about the many sports betting markets available, contact the team behind Altenar’s signature blue light today and schedule a meeting with their passionate professionals.
