FREE TRIAL

Deploy a Free VPS Server Worldwide. No Credit Card Required.

Start Free Trial
  • +357 2425 0808
  • Login
  • English

Home

Blog

Cyprus to expand access to online gambli...

Cyprus to expand access to online gambling market

Cyprus to expand access to online gambling market

NetShop ISP

NetShop ISP · Blog Author

Aug 02, 2016 · Uncategorized

The Republic of Cyprus is proceeding with plans to expand access to a regulated online sports betting market.
The president of the Cyprus National Betting Authority (NBA), Ioanna Fiakkou, announced on Thursday that the NBA would begin accepting online betting applications on October 3.

The Republic of Cyprus is proceeding with plans to expand access to a regulated online sports betting market.

The president of the Cyprus National Betting Authority (NBA), Ioanna Fiakkou, announced on Thursday that the NBA would begin accepting online betting applications on October 3.

The period to submit applications will last until November 3. The gambling sites that did not submit an application within that one-month window will see their domains added to the country’s online blacklist.

Back in 2012 Cyprus passed online gambling bill, approving online sports betting while simultaneously imposing a ban on online casino games and exchange betting as well as granting a monopoly to Greek gaming firm OPAP.

The new measure to regulate online betting won’t expand the list of legally approved online options; however, it will increase the number of companies approved to offer online betting.

Harris Georgiades, Cypriot finance minister, explained that opening up the online betting market was part of the government’s strategy to bolster tax revenue via gambling expansion. This strategy includes the ongoing process to award one brick-and-mortar casino licence, the licensing of video lottery terminals at sub-venues run by the casino operator and privatising the operation of the state lottery.

Additionally, Cyprus intends to regulate OPAP’s betting games via legislation rather than through a bilateral agreement with Greece. Cyprus was left with no choice given that the Greek government sold its one-third stake in OPAP to private operators in 2013.

Categories

Backup
6
Business Continuity
4
Cloud Hosting
10
Colocation
4
Company Updates
1
Cryptocurrencies
1
Data Centers
12
Dedicated Servers
4
Disaster Recovery
3
Forex
25
Gaming
1
iGaming
33
Industry News
32
Interviews
10
Joomla
9
Magento
5
Managed Services
1
Operating Systems
1
Press Releases
65
Product News
6
Resellers
1
Security
25
Software & Apps
1
Streaming
1
Tech Startups
12
Tutorials
60
Uncategorized
389
Vps Hosting
11
Web Design & Development
3
Web Hosting
44
Webinars
1
Wordpress
14

Free VPS Trial

No Credit Card Required.

Recent Posts

How To Fix Error Failed to download metadata for repo in CentOS 8

How To Fix Error Failed to download metadata for repo in CentOS 8

23 March, 2023

How can Forex Brokers be Protected from DDoS Attacks

How can Forex Brokers be Protected from DDoS Attacks

20 March, 2023

NetShop ISP Bronze Sponsors for the University of Cyprus at Harvard WorldMUN 2023

NetShop ISP Bronze Sponsors for the University of Cyprus at Harvard WorldMUN 2023

15 March, 2023

Top 5 Cloud Computing Trends in 2023

Top 5 Cloud Computing Trends in 2023

13 March, 2023

MetaTrader 4 and 5 Apps are back on Apple AppStore

MetaTrader 4 and 5 Apps are back on Apple AppStore

07 March, 2023

#letushostyou

Award Winning Hosting Provider established in 2004.

Best iGaming Service ProviderISO Certified

120 Faneromenis Avenue, Imperial Tower, 2nd Floor, Larnaca 6031, Cyprus

Products

Bare Metal Servers

Customized Servers

Virtual / Cloud Servers

Forex VPS

Storage VPS

cPanel Web Hosting

Reseller Web Hosting

Colocation

Addons

Premium DNS

Email Hosting

Cloud Backup

DDoS Protection

Licenses

SSL Certificates

Domain Names

Premium SLAs

About Us

Data Center Locations

Looking Glass

Our Company

Contact Us

Careers in Cyprus

Become a Partner

Awards

Certifications

© 2023 S.S. NetShop Internet Services Ltd. All rights reserved.  Terms & Conditions  |  Privacy Policy
CY Reg. Number: HE 217340 | EU VAT Number: CY10217340J

Visa
Mastercard
PayPal
Bitcoin
Tether
Ethereum
Litecoin
Wise
Revolut
Wire Transfer