Betting and Gaming Law at a glance
Betting and Gaming Law is a growing branch of law in Cyprus. In fact, the first legal framework on the matter was enacted in 2012. The Betting Sector is regulated, licensed and supervised by the National Betting Authority, established in 2012, following the enactment of the Betting Law 106(Ι)/2012.
As stated by the Minister of Finance, Harris Georgiades, on the 28/07/2016, the regulation of online betting, along with other measures promoted concerning the betting industry, will create a new significant prospect for the economy, as the Cyprus National Betting Authority gears up to license online betting companies. He further stated that “by opening and regulating online betting and the rest steps undertaken (by the government) in the betting industry we create a new significant prospect for the economy”. He continued to point out that the government promotes a five-pronged strategy covering the operation of an integrated casino resort, the licensing of VLT slot machines in the context of the casino licence, the concession of the operation of the state lottery to a private investor, and the regulation of the betting games offered by Greek OPAP.
The National Betting Authority, being responsible for safeguarding the regulatory framework and the proper functioning of the market, and being respectful for the values it serves, has issued an Action Plan for 2018-2020 on Responsible Gaming.
Sources of Cyprus Betting and Gaming Law
The expertise of EK in the field
Soon after the enactment of the Betting Law 2012, our law firm represented clients in administrative procedures before the National Betting Authority and has provided legal advice to national and international clients regarding online betting licensing.
Our firm has extensively dealt with the regulatory regime, in particular regarding licensing and provision of betting software.
Why choose EK?
EK’s legal consultants comprehend that the enforcement of the Betting Law poses even bigger challenges due to jurisdictional issues, as experienced in other areas of Internet regulation, such as defamation, and are trained to cope with the constantly evolving environment of betting activities and the challenges of the availability of gambling products.
EK’s consultants comprehend the regulatory complexities and have the knowledge and experience to assist clients efficiently and effectively in their progression through the licensing process and other related procedures. Our lawyers may assist you with all the necessary bureaucratic procedures effectively and efficiently.
EK is also known for its commercial awareness, which essentially gives EK the advantage to understand that your business needs its legal services to be provided timely and within budget. We offer clients value-for-money services, which never fail to meet deadlines and to consider all aspects of your commercial transactions.