Comparison with Greece and Turkey

The gambling industry of Cyprus occupies a unique position in the Eastern Mediterranean. Geographically and culturally close to both Greece and Turkey, the island exhibits a very different pattern of gambling regulation and perception. Consider how these three countries shape their markets and why Cyprus remains the "middle" zone between the legal Greek system and the strictly prohibitive Turkish model.

1) Regulation and legal status

Cyprus.

The southern part of the island (Republic of Cyprus) officially allowed land-based casino operations in the mid-2010s, licensing the flagship resort City of Dreams Mediterranean and several satellites. Online gambling is partially regulated: there are no local licenses for online casinos, but offshore operators operate under other jurisdictions (Curacao, MGA, Isle of Man) and actively accept players.

Greece.

Fully regulated market. The national regulator Hellenic Gaming Commission (HGC) issues licenses for both offline and online activities. The largest brands - OPAP, Stoiximan, Betano, Bet365 - operate in a legal field. Gambling is perceived as a source of budget and tourism: the sector gives €2-3 billion GGR per year.

Turkey.

Opposite model. All forms of casinos and most gambling have been banned since the late 1990s. The exception is the state lottery (Milli Piyango) and sports betting through the Spor Toto monopoly. Online gambling is blocked, VPNs and cryptocurrency payments are used illegally by players.

2) Licenses and supervision

Cyprus: National Gaming and Casino Supervision Authority. Online activities are only partially regulated (betting through the National Betting Authority).

Greece: HGC issues two categories of licenses - online betting and casino/slots. The regulation is strict, including deposit limits, KYC and RG policies.

Turkey: no market license; the state monopoly manages a limited sector. Operators operating without permission risk fines and criminal cases.

3) Economic contribution

Cyprus: more than 3,000 jobs in the offline segment, hundreds in online and compliance centers. Revenues come through tourism, hospitality and support industries.

Greece: direct contribution to GDP above 1.5%, large tax revenues from operators (GGR tax - 35%).

Turkey: the budget receives income only from government rates and the lottery, the rest of the market goes into the shadows.

4) Social perception

Greece: Gambling culture is historically rooted, but society supports control and Responsible Gaming programs.

Cyprus: balance between tourism and cautious regulation; the southern part is open for investment, the northern - for hotel casinos in the spirit of Turkey.

Turkey: excitement condemned by religious and cultural norms; participation in online gambling is interpreted as a violation of the law.

5) Northern and Southern Cyprus: regional difference

In the north of the island there is a system aimed at tourists from Turkey: dozens of hotel casinos operate without international licenses, but under the supervision of local authorities.

In the south, there is a European model with control, transparency and taxation. Thus, one island combines both regional models - legalized Greek and shadow Turkish.

6) Online gambling and technology

Cyprus: players actively use offshore platforms (1xBet, Bet365, PokerStars), VPNs and cryptocurrencies.

Greece: The legal online sector is growing, integrating AI analysis, rate limits, digital identification.

Turkey: online betting outside the state monopoly is blocked, but demand is fueling the gray market for Telegram- and crypto-casinos.

7) Model comparison

8) Prospects and future

Cyprus may eventually introduce full licensing of online gambling, drawing on the experience of Greece and regulating offshore flows.

Greece will strengthen its position as the "legal hub" of southern Europe, maintaining stable incomes and strict standards.

Turkey is unlikely to soften the policy, but it can develop state digital lotteries and sports pools.

9) Withdrawal

Cyprus is the intersection of the two models. On the one hand - European transparency and tax discipline, on the other - proximity to the Turkish gray market. This creates a unique dynamic: the island becomes a natural "bridge" between legal Europe and informal Asian flows, and its economy benefits from both tourism and offshore presence.

In the long term, it is Cyprus that can turn into a regional hub for iGaming, combining the Greek regulatory system and Turkish demand for alternative forms of entertainment.