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Cyprus Online Casino
Cyprus occupies a special place on the map of European gambling. This country combines strict government regulation with a loyal attitude towards international operators, giving players access to both local and offshore online platforms.
Due to the favorable tax climate and developed IT infrastructure, Cyprus has become a regional center for iGaming companies, including the offices of the world's largest brands.
Legislative framework
Gambling in Cyprus is regulated by two main laws:1. Betting Law of 2019 (L.37 (I )/2019) - regulates sports betting and online bookmakers;
2. Casino Gaming and Control Law of 2015 - regulates the operation of land-based casinos and VIP lounges.
The legislation divides gambling into two categories:- legal (betting and licensed casinos);
- prohibited (online slots, roulette, poker without the physical presence of a dealer - with the exception of international licenses).
- National Betting Authority (NBA) - licenses online betting;
- Cyprus Gaming and Casino Supervision Commission - controls offline casinos.
Licensing
Online activity in Cyprus is limited, but betting companies and casino operators can obtain an NBA license.
At the same time, online slots and poker remain outside the national license, but Cypriots actively use international platforms (Curacao, MGA, Isle of Man).
License types:- Class A - land point rates;
- Class B - online betting and online bookmakers.
- registration of a legal entity in Cyprus or in the EU;
- availability of capital from €500,000;
- guarantee deposit - €550,000;
- financial transparency and auditing;
- certified software.
License term: 10 years.
Major licensed operators:- Parimatch Cyprus, Bet on Alfa, Fonbet, Megabet, Nicosia Bets, Bet365, 1xBet, Betano, Bwin.
Taxation
Cyprus offers a loyal and predictable tax system.
Players are not taxed on winnings if they participate in licensed or offshore casinos.
Online gambling
Online gambling in Cyprus exists in a hybrid form.
Although local law does not explicitly license slots and online casinos, foreign operators licensed by the Malta Gaming Authority (MGA), Curaçao eGaming, Isle of Man and Gibraltar legally accept players from Cyprus.
Popular online casinos among residents of the country:- Bet365 Casino, 1xBet, Stake, Betano, Pin-Up, Bwin, Fairspin, 22Bet, PokerStars, LeoVegas.
- video slots and live-casino;
- roulette and blackjack;
- poker tournaments;
- cryptocasino and Bitcoin games;
- sports and eSports betting.
According to the Cyprus Gambling Report 2024, the online gambling market brings in more than €250 million annually, and the share of players using mobile devices exceeds 75%.
Land-based casinos
Cyprus is actively developing the land-based casino industry, focusing on tourism.
The main project is City of Dreams Mediterranean (Limassol) - the largest casino resort in Europe, which opened in 2023.
Other notable establishments:- C2 Nicosia is an affiliate of the City of Dreams chain;
- C2 Ayia Napa, C2 Paphos, C2 Larnaca - satellite casinos;
- Princess Casino Nicosia is a popular casino with an international audience.
Casinos offer live games, poker, VIP lounges, restaurants and five-star hotels, forming a tourist flow to the country.
Payment methods
The base currency is Euro (EUR).
Operators support a wide range of payment instruments:- Visa, MasterCard, Maestro;
- Skrill, Neteller, ecoPayz, Revolut;
- Apple Pay, Google Pay;
- bank transfers (Bank of Cyprus, Hellenic Bank, Alpha Bank);
- cryptocurrencies (BTC, USDT, ETH, LTC) - allowed under AML policy.
Thanks to the developed fintech sector, transactions are instant and protected by multi-factor authentication.
Responsible play
Cyprus pays great attention to Responsible Gaming.
NBA and Casino Commission regulators monitor compliance through the Play Responsibly Cyprus system.
Measures include:- age limit 18 + (21 + for offline casinos);
- limits on deposits and losses;
- possibility of self-exclusion;
- National Helpline 1410;
- mandatory placement of warnings on sites and advertisements.
All licensed operators are required to transfer 1% of their income to the Responsible Gaming Fund.
Economic importance
Gambling is an important part of the Cypriot economy.
According to the Ministry of Finance (2024):- the total market turnover exceeds €500 million;
- tax revenues - about €80 million annually;
- more than 3,000 jobs created;
- casino tourism brings the country up to 5% of GDP in the summer season.
The gaming sector is actively developing IT, payment technology and the hotel industry.
Challenges and challenges
The main market challenges are:- restriction on licenses for online casinos (only bets are officially allowed);
- players' dependence on offshore platforms;
- the need to harmonize legislation with EU regulations;
- combating illegal advertising and VPN access.
- registration of online casinos under the control of the NBA;
- protection of crypto transactions;
- unified register of players and operators;
- direct monitoring of payouts and rates.
Development prospects
Cyprus is on track to fully legalise online gambling.
Expected changes:- opening a market for international casinos with local offices;
- creation of a national software certification system;
- integration of crypto and Web3 payments;
- development of tourist casino complexes on the coast.
Thanks to a stable economy, low taxes and the reputation of the IT hub, Cyprus is becoming an attractive jurisdiction for the iGaming industry in Europe and the Middle East, combining business opportunities and a high level of regulation.
