Cyprus

Cyprus has seen gambling go unregulated for many years. This is despite the fact that most other jurisdictions, including those in Europe, have taken steps to put laws in place that protect players and providers. Most of these areas also require wagering providers to obtain a licence that verifies they are operating in a fair manner.

Cyprus finally began to catch up with its counterparts when the Cypriot government introduced the 2012 Betting Law.  However, rather than regulating gambling as other nations had done, they put bans in place. The Betting Law made wagering at casinos illegal in both bricks-and-mortar venues and online. 

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Cyprus has seen gambling go unregulated for many years. This is despite the fact that most other jurisdictions, including those in Europe, have taken steps to put laws in place that protect players and providers. Most of these areas also require wagering providers to obtain a licence that verifies they are operating in a fair manner.

Cyprus finally began to catch up with its counterparts when the Cypriot government introduced the 2012 Betting Law.  However, rather than regulating gambling as other nations had done, they put bans in place. The Betting Law made wagering at casinos illegal in both bricks-and-mortar venues and online. 

The Betting Law Cyprus

Despite making casino betting illegal, the Cypriots did regulate other forms of wagering.  The Betting Law decreed that sports betting, wagering on horse races, and taking part in lottery draws would be permitted in bricks-and-mortar locations – and that these are the only kinds of gambling that are acceptable within those kinds of venues.  In terms of an online provision, the government of Cyprus decided that the only permitted activities are betting on sports and playing lotteries for cash prizes.

National Betting Authority

The Betting Law of 2012 precipitated the formation of a government appointed body to monitor all gambling providers operating on Cypriot soil.  This is known as the National Betting Authority (NBA), and its remit includes provider licences and ensuring that all regulations regarding gambling are strictly adhered to.

The NBA plays an important role in protecting potential problem gamblers and those who are considered too young to indulge in wagering.  They do this by placing strict rules on advertising games that are played for money – marketing campaigns should be carefully constructed to exclude these potentially vulnerable groups.

The NBA also functions as an active deterrent to illegal gambling operations, again with the aim of protecting both providers and players from exploitation.  They work closely with the Ministry of Finance to ensure that all the appropriate taxes are paid by wagering providers – which includes both online and bricks-and-mortar organisations.

The Authority has identified two different classes of gambling: A and B.  Class A relates specifically to gaming facilities that are offered in a building, and class B covers all providers within the jurisdiction operating on an online basis.  Class B is particularly focused on the relationships that players have with internet wagering providers, and how those providers connect with both their customers and the NBA.

Players who want to gamble online or in land-based facilities in Cyprus must be at least 18 years old.  They must provide proof of their age that can be verified by both the provider and the NBA.  It is also essential to register as a player with the provider.  It is against the law to wager with cash, and gamblers must be able to prove that they are able to pay for their games by using a credit or debit card, or by bank transfer. 

The regulations regarding gambling within the jurisdiction of Cyprus are relatively strict.  Rules that apply to providers include a stipulation that they must be free of any criminal convictions, they must be aged at least 25 years, and they must be able to prove that they are in possession of sound finances.  Because the regulations are strict, providers and players are able to enjoy interactions safe in the knowledge that they are protected from harm.

 

The Betting Law Cyprus

Despite making casino betting illegal, the Cypriots did regulate other forms of wagering.  The Betting Law decreed that sports betting, wagering on horse races, and taking part in lottery draws would be permitted in bricks-and-mortar locations – and that these are the only kinds of gambling that are acceptable within those kinds of venues.  In terms of an online provision, the government of Cyprus decided that the only permitted activities are betting on sports and playing lotteries for cash prizes.

National Betting Authority

The Betting Law of 2012 precipitated the formation of a government appointed body to monitor all gambling providers operating on Cypriot soil.  This is known as the National Betting Authority (NBA), and its remit includes provider licences and ensuring that all regulations regarding gambling are strictly adhered to.

The NBA plays an important role in protecting potential problem gamblers and those who are considered too young to indulge in wagering.  They do this by placing strict rules on advertising games that are played for money – marketing campaigns should be carefully constructed to exclude these potentially vulnerable groups.

The NBA also functions as an active deterrent to illegal gambling operations, again with the aim of protecting both providers and players from exploitation.  They work closely with the Ministry of Finance to ensure that all the appropriate taxes are paid by wagering providers – which includes both online and bricks-and-mortar organisations.

The Authority has identified two different classes of gambling: A and B.  Class A relates specifically to gaming facilities that are offered in a building, and class B covers all providers within the jurisdiction operating on an online basis.  Class B is particularly focused on the relationships that players have with internet wagering providers, and how those providers connect with both their customers and the NBA.

Players who want to gamble online or in land-based facilities in Cyprus must be at least 18 years old.  They must provide proof of their age that can be verified by both the provider and the NBA.  It is also essential to register as a player with the provider.  It is against the law to wager with cash, and gamblers must be able to prove that they are able to pay for their games by using a credit or debit card, or by bank transfer. 

The regulations regarding gambling within the jurisdiction of Cyprus are relatively strict.  Rules that apply to providers include a stipulation that they must be free of any criminal convictions, they must be aged at least 25 years, and they must be able to prove that they are in possession of sound finances.  Because the regulations are strict, providers and players are able to enjoy interactions safe in the knowledge that they are protected from harm.