Trumo in Latvian Casinos

Since online gambling is completely legal in Latvia, players from the country can join legit online casinos and play using all kinds of local and global payment methods, like the open banking solution Trumo. This solution is offered in Latvia and three other countries exclusively and was designed for the purpose of serving the online gambling industry. As such, it is a perfect match for all banked Latvian online casino players who wish to make smooth, swift, and safe transactions to and from online casinos, using their bank accounts. If you believe it is just the solution you were looking for, do not hesitate to continue reading to find out more about it. Why use Trumo for your deposits and withdrawals across top Latvian online casinos?

Online Gambling Regulation in Latvia

Just like in other countries that were part of the USSR, Latvia was not allowed to offer gambling within its borders, as gambling in the USSR was banned. But, when the country left the USSR, the first land-based casino establishment opened almost immediately. Latvia had no legal framework back then to regulate the industry, but with the Law on Gambling and Lotteries 1998, the country officially legalized land-based gambling. The regulatory body, the Lotteries and Gambling Supervision Inspection, made sure to inspect, license, and supervise all operators that obtained a license to offer land-based gambling content to Latvian citizens across various gambling venues.

Eight years later, the country also legalized online gambling. As of 2006, both local and offshore operators were allowed to apply for and obtain a license to offer online casino games, but the right to offer online bingo, keno, and lottery remained exclusively to Latvijas Loto, the state-owned operator. For some reason, though, not that many operators got their license to launch their online casino sites; in fact, only a dozen did. In the meantime, the authorities made sure to block all unlicensed sites that were trying to penetrate the market. Latvia’s success in eradicating illegal activities is astonishing and thanks to the regulator’s tough rulings, players from the country are enjoying a completely safe and well-regulated online gambling time.

Of course, even though unlicensed sites are blocked, smaller online casino platforms that have no license continue targeting Latvian players. And these sites are, according to reports, still accessible. While these are not popular, giant operators, but smaller sites, underdogs if you will, they are still options for Latvian players to consider. Those players who do not wish to have anything with unlicensed sites, however, can rest assured that sites that are legal are filled with all kinds of industry-leading games. So many software developers have partnered with licensed online casinos to leave their footprint in Latvia, giving players the option to choose from all kinds of classic and innovative slots, enjoy live action via Live Dealers games, and other casino games that they wish to play.

So, as long as you join a site that is licensed by the Lotteries and Gambling Supervision Inspection, you can be certain that you will get proper player protection, but you will also get to play top-notch games, delivered by the likes of Hacksaw Gaming, Yggdrasil, Evolution and Games Global, to mention a few developers. What you need to think carefully about is what payment method to use to get an all-encompassing and fun online gambling experience. One solution that might certainly interest you, given the fact that it caters to online casino players from Latvia and three other countries exclusively, is the open banking solution Trumo.

Trumo was tailored for the needs of online casino operators and players, to facilitate their transactions and make them as fast as possible. What's more, it is authorized to operate in four countries only, Latvia, Finland, Estonia, and Lithuania, therefore, you can consider it as a local solution, trying to cater to all of your needs. Add to that the fact that your transactions will not only be safe and quick, but also cost-efficient, as they will be processed in your local currency, the euro, and there you have more than enough reasons to give it a try. Before you do, though, make sure you stay with us to learn more about it, as it is already offered across some great Latvian online casinos.

Using Trumo Across Latvian Online Casinos

Trumo Finance Oy, a company established in 2020 with headquarters in Helsinki, Finland, took on a mission to create a payment method that would enhance transactions across the online gambling and eCommerce industries. It took four years for the company to research and develop the open banking solution, but finally, in 2024, it went live across four markets: Latvia, Finland, Estonia, and Lithuania. The Finnish Financial Supervisory Authority supervises its operations across these markets, to ensure that the solution works properly and legitimately. But, thanks to its sophisticated authentication procedure, you can rest assured that all of your account-to-account transactions with it will be secure and unbreachable at all times.

The solution, as said, was designed with online casino operators and players in mind, and that’s why it is user-friendly and has a user-first approach. Actually, while operators need to book a demo and set up a meeting to see how it works, players don’t need to lift a finger. Since no registration is needed, as long as they are meeting the conditions to be eligible to use it, they can start right away. The three conditions to meet are: to have an active bank account with major banks from the region like Nordea, Saastopankki, Danske Bank, Alandsbanken, Aktia, and Pop Pankki, for example; to have a functioning online banking profile; and to register a player account with an online casino that transparently accepts Trumo as a payment method.

If you’re meeting these conditions, you’re good to go. To get started with it, as said, no registration is needed. You will be using your existing credentials to enter your online banking profile in order to request transactions with the solution. The process will go something like this. You will log into your online casino account and select the solution from the Banking page. Once redirected to a new page, you’ll need to enter your online banking profile, set the amount you wish to send, and enter the casino’s banking info in the appointed fields. As soon as you authenticate the transfer and confirm it, the funds are immediately sent to your casino balance. The procedure for cashing out money from your casino balance is similar, and if you follow our lead, in the next section you’ll learn the exact steps to take.

So, make sure you continue reading to see the step-by-step procedures for depositing and withdrawing with Trumo across leading Latvian online casinos.

Depositing and Withdrawing with Trumo

We cannot sugarcoat the fact that Trumo is still a fairly new payment method and that you won’t find it across hundreds of sites. Add to that the fact that not so many licensed Latvian casinos exist, and there you have it, the reason why finding an online casino that accepts Trumo would not be an easy process. You will need to dig deep and look for sites that do, but as soon as you find at least a few, things will get easier. From here, you will need to check these sites for games and software developers, and bonuses and promotions, to be able to make a decision on the one to join.

As soon as you find the one, proceed by registering an account with that casino site. Provide any of the necessary personal details and the minute you see that your account was successfully created, to fund it with Trumo, follow these intuitive steps:

1. Head over to the Banking page the minute you enter your registered player account.
2. Locate Trumo in the Deposits section and select it.
3. Choose your bank and enter your online banking profile as soon as you are redirected to a new page.
4. Specify how much you wish to transfer and enter the casino’s banking info.
5. Confirm the transfer and watch the funds arriving in your balance instantly.

Trumo is a fast withdrawal solution, as the minute the operator approves your request, the solution processes the transaction and your winnings arrive in your bank account right away.

But for that to happen, you first need to visit the Banking page, then head over to the Withdrawals section, to check whether the solution is offered for withdrawals in the first place. Even though it processes transactions both ways, not all operators offer it for withdrawals. Assuming it is an option for cashouts at your online casino, select it and then enter your online banking profile again to request money to be sent to your bank account, by entering the casino’s banking info again and the amount you wish to cash out. The operator will take minutes or up to 48 hours to approve your request, but once that happens, expect the funds to arrive in no time. 

Conclusion

If you are looking for the ideal payment solution to use across Latvian online casinos, Trumo is certainly the one. Available in Latvia and designed for the online gambling industry, the solution guarantees swift and safe transactions in your local currency, to and from licensed online casinos. As long as you’re banked and you have your online banking profile up and running, you don’t even have to register any new accounts to give it a try, so the first chance you get, do it!