The National Betting Authority (hereinafter the “Authority”) was established pursuant to the Betting Law of 2012 (106(Ι)/2012). It constitutes an independent administrative authority which has financial independence and autonomy.
The competences of the Authority include the regulation, supervision and control of betting activities which are carried out within the territory of the Republic of Cyprus. The sphere of the Authority’s competence primarily includes the granting of licenses to Class A (land-based betting) or Class B (online betting) licence bookmakers and to authorized representatives, the carrying out of controls, the general supervision of licence holders, as well as the preparation and issuing of directives for the better implementation of the Law.
The controls carried out by the Authority concern the carrying out of betting activities in a legal manner, compliance with the rules for the transparent, honest and fair conduct of such activities, the yielding of profits to players, the collection of taxes for the benefit of the Republic and their contribution to the Authority, as well as the enforcement of licensing conditions.
In addition, the Authority is competent for the implementation of specific measures for the prevention and protection of young persons and vulnerable groups against addiction to betting, as well as the preparation of regulations concerning the mechanisms for the protection of young persons and pathological players. The Authority is aware of the dimensions of betting addiction and it is thus prepared to immediately proceed with the necessary actions for preventing this phenomenon and developing a culture for responsible betting amongst young persons. The cornerstone of this effort is the collaboration of the Authority with the relevant bodies and international organizations.
It should be noted that Pillar 5, as this is defined in the framework of the Authority’s Strategic Planning for the period of 2016-2018, which constitutes a tool for setting and planning the implementation of objectives, is devoted to the development of actions for the protection of the public, young persons and vulnerable groups. The objective of Pillar 5 is the development and maintenance of a reasonable betting activity, both by adults and minors, and the prevention of excessive waste of money by extent. To accomplish this purpose, the Authority carries out controls and continuously supervises and where necessary, restricts the content, type and intensity of betting schemes provided. By extension, it is planned to develop activities such as the conduct of research and the carrying out of specialized studies, to organize workshops and training programs, as well as develop specialized support tools for addicted individuals according to the standards implemented by international organizations, in cooperation with the competent services.