Latvia is undergoing an overhaul of its gambling system ahead of a stringent budgetary reform in the nation before 2026.The Finance Minister, Arvils Aeradens, and the Director of the Lottery and Gambling Supervision Inspectorate (IAUI), Signe Birne, have been working in tandem to produce updated legislation ahead of a parliamentary review in April 2026.Latvia undergoes gambling overhaulMinister Aeradens has confirmed that the State Revenue Service (SRS) will incorporate the IAUI in a move that brings the regulation of gambling and operator licenses under state supervision.Aeradens has been the nations finance minister since December 2022 and previously held the Minister of Economics role from 2016 to 2019.He said as part of a briefing, The integration of gambling oversight (currently IAUI) into the State Revenue Service will allow us to establish unified management faster, make better use of our resources and deliver higher-quality services to the public.The move is intended to shorten the tether between the state and approved third parties to impact the key priorities of the current government as the nation gears up for record military spending in 2027 and 2028.The draft budgetary changes, which are to take effect in 2026, are to be submitted by the Cabinet of Ministers no later than October 14. The nations parliament (Saeima) will give its approval and review the following day.These changes, coming into effect on January 1, are reported to include sweeping reforms that the current Prime Minister, Evika Silia, has identified as her top priorities. They include an increase in gambling taxation and duty on alcohol and tobacco.The changes impacting gambling regulation in the nation primarily involve taxation. Gaming machines are expected to see a steady increase, from a projected 6,204 to 7,440 ($7,319 to $8,770).Table gaming will see an increase in taxation from 33,696 ($39,720) to 40,440 ($47,665), and there will be a blanket 3% increase on telephone wagering, a 2% increase on bingo, and a 3% increase on digital gaming.Silina stated security, support for families, economic growth, and reducing bureaucracy, bringing public administration closer to the people, were her cabinets top priorities.Featured image: Canva.The post Latvia overhauls gambling reform ahead of 2026 budget appeared first on ReadWrite.