Nauris Miezis hit a game-winning buzzer beater as Riga edged Ub 21-20 to clinch the International Basketball Federation (FIBA) 3x3 World Tour event in Debrecen.
Needing to reach 21 points to secure the Hungary Masters, Riga moved to within touching distance when they went 20-17 in front.
But Ub drew level thanks to Strahinja Stojacic’s basket and a dramatic two-pointer from Ivan Popovic, setting up a tense finale.
Popovic went for glory from range only to hit the rim before Karlis Lasmanis showed great awareness under pressure.
After going agonisingly close to landing the winning basket, Lasmanis was the first to the rebound before feeding Miezis who seized his chance.
It was Riga’s fourth Masters win in their history while Ub fell just short of their first title on the World Tour despite Ivan Popovic topping all scorers in the final with 11 points.
Riga, who came third in the Debrecen Masters, progressed to the final courtesy of a 21-15 win over NY Harlem.
A strong start saw Riga establish an eight-point cushion before finishing the job with Lasmanis leading the scoring with a nine-point haul.
In an all Serbian semi-final, Ub defeated Novi Sad 22-19 in a thrilling encounter which saw Miroslav Pasajlic land the decisive points.
Earlier, Liman’s hopes of securing back-to-back World Tour titles following their victory in the Debrecen Masters on Sunday were dashed at the quarter-final stage.
The Serbian team went down 22-11 to Riga thanks to strong contributions from Miezis, Lasmanis and Edgar Krumins.
NY Harlem joined them in the last four when they backed up their impressive showings in Pool D with a 21-17 victory over Ulaanbaatar with Joey King registering 10 points and three rebounds.
Piran came through qualifying before booking their place in the quarter-finals and they got within a whisker of advancing even further when they went toe-to-toe with Novi Sad.
After trailing 9-2 at one stage, Piran battled back to draw level at 20-20 only for Tamas Ivosev to score the match-winning point for Novi Sad.
This teed up a meeting with Serbian counterparts Ub who defeated Saudi Arabian team Jeddah 21-17, with Marko Brankovic starring with five points and five rebounds.
The Europe Masters is scheduled to begin on Friday September 4, the last of three World Tour events in eight days in Debrecen.