🍀 Cyprus🇨🇾: the NBA strengthens betting regulation without resorting to disproportionate measures

🍀 Cyprus🇨🇾: the NBA strengthens betting regulation without resorting to disproportionate measures

Authorities are preparing to introduce additional regulatory measures while seeking to strike a balance between oversight of the legal market and the sector's continued development.

💕 Current situation: in 2025, the legal betting market exceeded €1.3 billion, approximately 8% higher than the previous year.

💕 Segmentation: the 2019 Sports Betting Law provides two categories of licenses for companies: A, for land-based betting operators, and B, for online betting, which represents the dominant segment of the industry.

💕 Taxes: a 10% tax is levied on net revenue, in addition to a 5% contribution, of which 4/5 is allocated to sports development, while the remainder funds youth protection and problem gambling prevention programs.

💕 New measures: authorities now intend to regulate B2B providers that supply betting operators with software and technology solutions, but are currently not subject to licensing requirements because they do not accept bets directly.

💕 Why❓

🟠 To verify ownership structures and compliance with regulatory requirements.

🟠 To maintain a stable environment that remains attractive to investors.

💕 Context: unlike some other European markets, the NBA is seeking to strengthen regulation without pushing activity toward the illegal market. According to a nationwide study, approximately 70% of Cypriot adults placed bets last year, while only 3% of market participants displayed problem gambling behavior. Rather than imposing excessively restrictive measures on operators, the regulator aims to improve the market environment while maintaining appropriate conditions for consumers.

💕 European perspective: the European Parliament has proposed introducing a pan-European gambling tax. The NBA has argued that additional financial pressure on the legal sector could benefit offshore operators, which would not face the same tax obligations, while undermining consumer trust.

#news #Europe #gambling #betting

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