Best Online Casinos Cyprus - Top CY Casino Sites 2023
Although Cyprus is a single independent country with 2 separate states, the large area in the south falls under the jurisdiction and law of the Republic. Meanwhile, the north of Cyprus is inhabited by Turkish and is not subject to betting laws enforced by the Cyprus Casino Games Commission.
In 2012, Cyprus gambling laws were reinforced with the amendment of the Betting Act. The law that does not define horse race betting and online betting is also criminalized. In addition, Parliament has passed the Law establishing the Casino Gaming Committee which is responsible for the control and licensing of the Casino, allowing only one integrated resort casino to operate in the south of Cyprus. The casino is expected to have 4 smaller casinos operating under its supervision and will offer betting machines and popular types of casino games.
Laws of Gambling in Cyprus
Gambling laws are strictly regulated in Cyprus to help combat illegal gambling. Things have improved over the past few years, giving Cypriot citizens access to more legal gambling easily.
Currently, Cyprus bettors can enjoy all forms of sports betting, lottery, horse racing, and legitimate casinos. However, there are currently only two legitimate casinos on the entire island and only recently opened with lax regulations.
In addition, a number of new betting laws have been enacted, and Cyprus has clearly defined the legality of online gambling for Cypriots, giving Cypriots a wide choice of available land-based casinos.
Gambling operators wishing to operate and provide sports betting services in Cyprus are required to obtain permission from the National Betting Authority (NBA), as the Betting Act 2012 enacted this provision.
For operators wishing to apply for a license, there are 2 forms of application for a license in Cyprus. If the illegal betting organizations are caught by the NBA or the police, they will be fined up to 300,000 EUR or 5 years in prison. The police have the right to enforce and the cost of enforcement will be paid by the illegal organization when violating some articles of the Betting Law 2012.
Gambling Events in Cyprus
The Cypriot Justice Minister issued an unclear legal opinion, creating controversial issues. Therefore, the 2012 Betting Law was enacted to correct the loopholes and create solid legal rules.
In 2004, when Cyprus joined the European Union, online game providers that have received licenses in member countries of the European Union, have started operations on a service principle basis.
The 2015 Casino Law provided a single license for one large casino resort and four small locations on the island.
Any licensed establishment that operates betting will pay a betting tax of up to 10% of net sales and a 3% tax on its net sales as well.
The legal gambling age in Cyprus is 18.
The online casino with the best form of payment is the one that offers a variety of payment methods. Monetization activities on online casinos in Cyprus can be done through credit cards, debit cards, bank transfers, e-wallets (ecoPayz, Skrill, and Neteller), or payment services in another locality.
If a player visits a betting site using a VPN, their current location is hidden, causing the casino website to display only the deposit and withdrawal options available for the country you are in.