🔥 Gaming in Cyprus: overview | Practical Law

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Betting Peer-to-peer or betting exchanges are prohibited Article 80, Betting Law Providers of betting services must be licensed and authorised to offer such services by the National Betting Authority NBA. Slot machines cover the following:. It is illegal to offer poker tables at other venues. The first licensed casino is estimated to be in full operation some time during see Question Online casino games, however, have been strictly forbidden since the enactment of the Betting Law Slot and other machine gaming Slot and gaming machines are allowed to operate only within a casino licensed by the NBA. Preparing and issuing regulations and directives for the better implementation of the relevant legislation. Is registered abroad, but has an overseas company branch in Cyprus or a partnership with a Cypriot company and whose principal activity is the carrying out of bets. A company seeking a licence must have a physical presence in Cyprus or a partnership with a local company. Significant developments affecting this resource will be described below. In both cases, horse racing and dog racing betting are prohibited. Examining requests for authorisation from an authorised representative for a licence for premises in Classes A or B, and the issue of the corresponding licences see below. Ask a question. Licensing and supervising providers who offer betting services in Cyprus. What are the regulatory or governmental bodies that are responsible for supervising gambling? Lottery Lotteries are legal in Cyprus and the Ministry of Finance itself runs a national lottery. Drafting regulations which are submitted to the Cabinet through the Minister of Finance. What legislation applies to gambling? Regulatory authorities. Bingo machines, irrespective of any adjustment or addition similar to another type of machine. General monitoring of illegal gaming actions. This is irrespective of whether that return is made automatically from the appliance, device or machine or in any other manner. Casino games According to the Casino Law of , casino games are now legal for land-based services at licensed casinos. The legal provisions currently ban online casinos, poker and exchange betting but allow and regulate online sports betting. In , Cyprus introduced a comprehensive legislative framework to regulate betting activities. The following betting services are strictly prohibited in Cyprus either in land-based premises or via online venues:. What gambling products have been specifically identified by legislation, and what different requirements have been established for each? The Betting Law allows only sports betting services to be offered online and bans all other forms of online gambling see above, Sports betting. The activities are carried out in accordance with a licence for a Class A or Class B bet as established under the current Law. In addition, the Casino Law introduced the grant of a single licence for an integrated casino resort which also includes a licence for four satellite-only slot machine casinos. When Cyprus joined the EU in , online gaming providers licensed in other EU member states launched activities on the basis of the principle of free movement of services set out in Article 56 of the Treaty on the Functioning of the European Union TFEU due to the lack of any comprehensive national legislation regulating the market. Operators in land-based premises must also acquire the appropriate licence from the NBA. Sports betting The Betting Law regulates online sports betting and allows only fixed-bet sports betting. Amount each player has paid for his participation in the bet. Class A. Issued and paid up share capital is at least EUR, If the NBA or the police receive a filed complaint about an offence under the Betting Law it is possible to submit a without notice application to the court to ban any illegal gambling action, including illegal betting, and operation of any premises can be suspended. The relevant Acts and legislative documents that regulate gambling activity in Cyprus are:. Available licences There are two forms of licence available:. Terminal-based gaming See above, Slot and other machine gaming. General definition "Betting" means any type of betting carried out at sporting or other events by natural persons who participate in that activity, and where the winnings of each player are determined by the person organising the bet prior to or at the time of processing the bet, with reference to the:. The President and other members of the NBA have a three-year mandate which may be renewed for a second three-year term. Online poker gambling is also prohibited; there are no Cypriot websites offering poker services and the great majority of foreign sites, which used to offer such services before the enactment of the Betting Law , are now blocked. Machines that have the ability to zero any result or indication and transfer that data to memory, either through the operator or by any other person. There are two forms of betting licence see Available licences.

This resource is periodically updated for necessary changes due to legal, market, or practice developments. The Ministry of Finance is responsible for the legislation and its amendments, regulations and directives. What is the legal definition of gambling in your jurisdiction and what falls within this definition?

Poker Poker can be played legally in Cyprus, but only in a strictly limited number of recently licensed casinos, which are not yet ready see below, Casino games.

Bingo Bingo is played legally in licensed land-based premises in Cyprus but is prohibited online. Any computer accessory or attachment which may be applied and operated cyprus casino law a screen as a slot machine.

The Betting Law regulates both land-based and online sports betting activities and go here. The winner of the tender will be awarded a year licence and a year monopoly on land-based gambling operations within the casino.

Gaming in Cyprus: overview. The Betting Law provides cyprus casino law the supervisory authority for all gambling and betting activities is the National Were casino service agree Authority NBA and that all prospective gambling operators who wish to operate and provide sports betting services in Cyprus must apply to the NBA for a licence.

In this case, the issued and paid up share capital must be at least EUR, The required capital applies to both Cypriot and overseas companies. Perhaps one of the most significant changes introduced by the Gambling Law was to appoint the newly established National Betting Authority NBA as the supervisory authority over all gambling activities in Cyprus.

Companies with licences in other EU member states to perform betting services within cyprus casino law meaning of the Betting Law but not other cyprus casino law services can provide those services in Cyprus before being issued a licence from the National Betting Association NBA as long as they apply for a licence within one month of notification of the date on which the NBA will accept applications for a licence Article 91 3Betting Law.

The police have power of enforcement and the costs of enforcement are borne by the subject of the order, which could be based on a violation of certain Articles of the Betting Law Gambling products. An application for a Class A and Class B bookmaker's licence can only be submitted by a company with shares, established either in the Republic of Cyprus or abroad and which has a branch overseas company in the Republic of Cyprus, and its Chapter B, Betting Law :. Machines known as "fruit machines" or with similar or other representations or shapes, numbers, letters or colours. Definitions of gambling. Additionally, bitcoin gambling is not allowed since it uses virtual currency for online gambling, which is illegal. Horse-racing machines or machines for races or speed, such as dog racing, car racing or other. Any other game of chance machine which at the National Betting Authority NBA discretion falls within the meaning of the term slot machine. Poker machines or any similar game with a pack of playing cards or other variations or representations. Online gambling "Online casino" means online games of chance in which a direct link may be obtained either:. The Attorney General of Cyprus gave a legal opinion that was unclear, created controversial issues and was heavily debated. Co-operating with the relevant institutions and international organisations to:. This regulates land betting services provided within physical premises, excluding Class B services and horse racing. Related Content. Main activity is to carry on bets. The gaming global guide serves as a starting point for understanding the regulatory framework of land-based and online gaming. Land-based gambling "Slot machine" means any mechanical, electric or other appliance, device or machine which, by the insertion of a coin, note, token or other similar object, or any other form of payment, allows the user to operate it or play a game of chance, resulting in a return of cash, objects of value, a reward, credit units or tokens or anything else which yields an economic value. As a result of that state of uncertainty, the Betting Law was enacted to supplement gaps in the law and present a solid legal framework. Through terminal machines interlinked with a central computerised system. This licence has not yet been granted, although the tender is at the final stage and the sole bid belongs to Melco- Hard Rock Resort Cyprus Consortium see Question Has shares registered in Cyprus. Services for the performance of bets by an authorised representative on behalf of a Class A licensee within licensed premises is also possible. Class B. Legislative framework of gambling regulation Overview. Any other electronic means or other technology. The Betting Law updated pre-established rules and guidelines and introduced new ones. This regulates online betting services excluding slot machines, online casinos, and so on, to the limited extent that they are permitted see Sports betting. Online lotteries are not allowed since any form of online gambling except sports betting is illegal. The NBA was established in with the enactment of the Betting Law and is an independent administrative authority with financial independence and autonomy. Carrying out random checks on unlicensed premises in co-operation with the competent law enforcement authorities and obtaining court orders for the closure of the premises where reasonable suspicion exists that illegal betting is being conducted under Articles 78, 79, 81, 82 and 83 of the Betting Law Assessing a tax scheme regarding betting configuration and relevant suggestions. The NBA is responsible for examining applications, and licensing, auditing and supervising prospective betting shops and online betting operators. Online sports betting is legal, but requires a licence from the NBA for a company to operate legally. Betting on horse races. This is an internal mechanism for observing the results of taxation, for example, if the applicable gaming taxes generate revenue for the Republic of Cyprus or not. What is the licensing regime if any for land-based gambling? The NBA has a seven-member committee consisting of a chairperson and six members appointed by the Council of Ministers, who are prestigious professionals with scientific training, professional competence and experience. The legal gambling age became Finally, the Casino Law provided for a single licence allowing the development of a large casino resort and four minor regional venues throughout the island.