Online Gambling In Cyprus
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Is Gambling Legal In Cyprus
Start an online business based on Online Casino Software by CoolAir. CoolAir is a gambling software developer that offers a complete solution for opening of an online casino. We create software for. The Consortium Integrated Casino Resorts Cyprus (ICRC) has announced the construction of the casino which is expected to be built in the town of Limassol. The casino’s name is City of Dreams. Cyprus Hopes Domestic Crime Claim Keeps Them From EU Gambling Laws in Gambling news - Page 1 of 1. Online gambling is any kind of gambling conducted on the internet. This includes virtual poker, casinos and sports betting. The first online gambling venue opened to the general public, was ticketing for the Liechtenstein International Lottery in October 1994. Today the market is worth around $40 billion globally each year, according to various estimates. Many countries restrict or ban online gambling. Online sports betting is legal but highly regulated in the Republic of Cyprus. The National Betting Authority (NBA) oversees online betting and has issued licenses to a handful of operators to date.
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WHAT YOU SHOULD KNOW BEFORE PLAYING ONLINE CASINOS ON CYPRUS
Cyprus is a popular tourist destination, and the island enjoys close attention from tourists and residents from all over the world. However, partially due to its position, and partially contrary to it, Cyprus sees certain limitations when it comes to gambling legislation.
On the one hand, thousands of tourists seeking entertainment look for land based casinos to make a bet or two for real money on their favourite casino game, and they do find ways to do that. On the other hand, those who want to enjoy online casino Cyprus may face lots of difficulties finding one.
Cyprus, in contrast to many other countries that have a very loose approach to their punting regulations, has clear and comprehensive laws and regulations in place. However, it seems that these regulations are not particularly favourable and advantageous for passionate gamblers. This is why, before you go and make real money bets at any Internet casino Cyprus, make sure you know what rules apply!
Only Offline Gambling is Legal
Both tourists and locals enjoy visiting offline punting houses for their festive atmosphere and betting fun. However, all types of online punting are banned in Cyprus, except sports betting. Local operators cannot run Internet casino sites for local residents.
The good news is that offline punting is legal in Cyp. The sad news is that, only offline punting is legal, and even more, some regions of the island still do not have any punting facilities. There are many brick and mortar gaming houses in Cyp, especially on the Turkish part of the island. These facilities are open to both local residents, non-residents, and tourists alike. There are no practical limitations (except of course age!) that can be applied to any passionate casino gambler who wants to make a few real money bets at a land based facility.
There are even some sports betting and animal racing betting bookmakers and facilities in Cyp, if you know where to go. All these venues require local license by the government, and in fact most of these venues do hold the licenses. There is also a Cyprus Government Lottery that sells tickets to anyone.
News In Cyprus Today
Online Gambling is Technically Illegal
Cyprus Online Shopping
The good news is that online sports betting is allowed in Cyprus. Sports betting platforms require Class B license by the government, and they are able to operate and offer their services to both locals and tourists alike. The sad news is that, technically, only sports betting online is legal, and all other forms of real money punting in the web are illegal. Local operators are not allowed to run Internet casino platforms that provide services in the country, and there is even no license for such activity.
But there is another good news! While technically, online punting is illegal, Cyp is not known for prosecuting its residents or guests for access to foreign Internet casino sites run from abroad. Punishment of gamblers is a super rare case for Cyprus, and only in case gamblers seem to make punting their main source of income on a regular basis.
As a result, all fans of online punting in Cyprus make bets at foreign websites, and there are many offshore web casinos that are happy to accept punters from Cyp as real money customers.
What About Social Gambling?
There is also such a phenomenon as “social gambling” that suggests very small, or purely tokenistic bets, made just for the sake of playing a game. Social gambling is usually not viewed as illegal, and many countries do not regulate it at all, or make very light regulations. However, according to laws in Cyprus, any social gambling suggests a game of chance to be played, and bets suggest any money, or property, or object which has economic value. So, regardless of whether the bets yield any financial gain to the player, such social games are still regarded as punting activity, and therefore must be licensed.
Final Thoughts
Cyprus Newspapers
It will be fair to notice that, compared to many other countries, Cyprus has very mild laws in the niche of punting. Even online punting which is technically deemed illegal does not result in severe consequences. It is unlikely that Cyprus will change its legislation anytime soon, so the players are generally free to play wherever they desire.
Online Gambling In Cyprus Newspapers
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