It is important to know that Cyprus betting expressly prohibits online betting throughout Cyprus. This means that although you will find an online casino in Cyprus, their license is not valid in the country. However, as rates are constantly changing and evolving, it is likely that we will soon see the standardization of online rates in Cyprus as well.
In Cyprus everyone can, of course, bet live on sporting events other than horse racing. However, given that Cyprus is a member of the EU, foreign online casinos can accept players from the country who will participate in gambling. That is why when we talk about Cyprus online casino, we are talking primarily about those online casinos that are licensed in other countries, but accept players from Cyprus.
Gambling licenses in Cyprus
Today, the Cyprus Ethical Betting Authority provides for the mandatory registration of legal entities wishing to obtain an online gambling license. There are currently two types of gambling licenses:
- Class A : Concerning traditional places of gambling in a natural area, in their own premises. Hippodrome activity is excluded.
- Class B: Refers to online gambling and betting, excluding, again, horse racing.
Legal Online Casinos in Cyprus
In Cyprus, online casinos are regulated by the Ethical Betting Authority. The administration is responsible for the operation of the casino in the city, the protection of players, as well as the implementation of responsible betting programs.
The Ethical Betting Authority was established in 2017 and its primary responsibilities are to issue and oversee licenses for casinos. At the same time, it controls and implements legislation regarding the operating system of betting and gaming sites. It is entrusted with the regulation of the activities of persons working in production, labor relations, as well as the protection of everyone from the negative consequences of gambling and gambling addiction. Particular attention is paid to the protection of vulnerable social groups, as well as the elderly.
Online Casino Bonuses Available to Cypriot Players
The bounties that jackpots offer are an important attraction for players. Most casinos have an attractive welcome bonus for new customers, however there are also many offers that enhance the player experience. It can be:
- Deposit vouchers;
- Free spins;
- Repayment program;
- Lost money back percentage;
- Tournament of players
The game offers to the player float in the window to be played. However, due care must be taken to ensure that rewards actually benefit players. Therefore, it is important to check the terms and conditions as players need to make sure that offers and bonuses are also available for Cypriot players.
Online Business Taxation
In Cyprus, the rate of taxation of bets is determined by the Racecourse and Lottery Taxation Authority and the Rates Authority. This is defined as 13% of net income, which is taxed at 10% for rates and 3% for the competent authority.
Responsible gaming
The most basic principle that players who choose to gamble should always keep in mind is that betting should remain fun. Because it’s easy to become addicted, it’s important that players know their limits. Many players maintain a separate budget for their game or set aside a percentage of their earnings to move from them to the game. Everyone can find a way that best represents them, so you can be sure that betting will always be a way to pass the time and not a bad habit.
Conclusions
In recent years, the stakes in Cyprus have changed following a change in the rules and the opening of casinos, as well as the creation of a “black list” that punished illegal casino operators, leaving room for the rest of the eligible ones. players from the country. .
Tourists and Cypriots work together to create a place to place bets. There is a large percentage of Cypriots who want to try their luck at casinos, either physically or online, which makes the future of the industry bright in the country.
Natural casinos have become…a betting dance, the biggest being C2, which now also has C2 Casino Online, and the relatively new City Of Dreams in Zakaki is an impressive establishment.
However, as impressive as traditional casinos are, the convenience and responsiveness of the online option is what makes Cypriot online casinos the choice of the future as well as the present.
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