Stay in the New town area,not the old town as you will waste money getting taxis into new town where all the bars/clubs are.
Be ready to haggle for taxi journeys as they will defo up the price on hearing your accent.
Stay in one of the hostels, i was sceptical (visions of being chopped up in the night etc) and stayed in a hotel but some lads we met on the piss stayed in a hostel just round the corner from the local English pub and said the rooms were bang on and they were walking distance from the pubs so wasted no cash on taxis.
Be wary of the meatheads at the whorehouses, the usual tricks of escorting blokes to cashpoints to empty their banks and/or filling them in is a common occurance and most are armed so not people to fuck about with, usual sops with whorehouses dont take your eyes off your wallet and know where the door is,basics really.
Same goes for the bouncers at the clubs the British pissed up bloke doesnt cut much mustard, some can be armed and they will give you a proper kicking or worse without batting an eyelid.
Carefull when asking advice from fit bar staff, was warned off by the birds in the English pub (good place to start) that some bar staff will recommend places to go at night where dodgy things will happen to you should you go (read above)
Beer prices are fine i found, certainly no worse then England and i can honestly say that in some places the best looking chick in a local towns nightclub in England would be buckshee fanny in Riga, proper stunning birds who are friendly and not stuck up at all.
Despite all the warnings above I had a mega time, no dramas at all despite on a post-tour piss up and would definetly go again, I highly recommend Essentials Nightclub, not sure what time it closes but i left at 05:30 and the bird in our hotel bar was heading there for a drink when her shift finished at 07:00

, hope this helps.