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In a new gambling law came into effect allowing and regulating casino gambling in Cyprus. In accordance with the law, a single licensed, integrated with a hotel casino is to be opened.
It is only in this casino that table games are to be permitted, though smaller casinos with, holding at most 50 slot machines or other gaming machines may also be operated one per district.
The integrated casino resort has yet to open its gates. Meanwhile, there are about 20 brick and mortar casinos situated in the Turkish part of Cyprus.
Casino gambling is now legal in the Republic of Cyprus. Licences for the single casino resort and the gaming machine premises slot machine halls have not yet been issued.
Land-based casinos are available in the Turkish part of the country. Online casino gambling is currently illegal in Cyprus. The new casino gambling regulation does not extend to online gambling, and online gambling apart from sports betting is banned by the betting law.
There have been reports of players, as well as operators arrested and fined for online gambling. Foreign casino gambling sites are also often blocked by ISPs.
Bingo is legal and quite popular in Cyprus. There are several brick and mortar bingo halls in the country, especially in the capital of Cyprus, Nicosia.
Online bingo on the other hand is illegal under the Betting Law of which bans all forms of online gambling apart from sports betting.
Operators and players may be prosecuted for participating in illicit games. The legal status of poker in Cyprus may be difficult to grasp at first.
According to the gambling law, casinos — or rather, a casino — is now legal in the Republic of Cyprus, but there are no actual casinos yet, which also means no legal poker.
However, many of the casinos located in Northern Cyprus have poker tables. Online poker is banned by the betting law. There are no Cypriot online poker sites, and foreign sites may be blocked.
Players may also be arrested for gambling online. Sports betting and online sports betting are legal in Cyprus in accordance with the Betting Law of Sports betting operators must acquire a licence from the National Betting Authority.
Land-based sports betting companies operate under a Class A licence, while Class B is valid for online sports betting.
The largest sports betting operator in Cyprus is still OPAP, considered exempt from the regulations of the betting law. OPAP offers sports betting only in the form of wagering on soccer matches.
Betsson online sportsbook — accepting registrations from Cyprus. Betsafe online bookmaker — accepting registrations from Cyprus. GT Bets online bookmaker — accepts registrations from the Cyprus, also accepts Bitcoin.
It issues the licenses needed to conduct such activities in Cyprus and supervises authorized gambling operators. According to the Betting Law, there are two main types of authorized gambling activities:.
Our company formation experts in Cyprus can give you detailed information about these types of activities. The following Acts and legislative documents are the most relevant legislative documents that govern any gambling activity in Cyprus: Licenses for gambling activities are given according to the class of activity, as described above.
The request for a gambling licence can be submitted by a company incorporated in Cyprus or a foreign company that has a branch in Cyprus whose principal acidity is carrying out betting activities.
The application must be submitted with a bank guarantee of a bank in Cyprus or an EU member state. Companies registered in other EU states that have a betting licence in that state only limited to betting and no other gambling activities can provide these services until the NBA issues a licence for this purpose, provided that the company has also applied for a licence with the NBA.
The licenses are not transferable or assignable. Gambling licenses in Cyrus are issued for one or two years ant they can be renewed. For more details about the application documents and other details, you can contact our experts in company formation in Cyprus.