How & Where To Bet Online In Cyprus
Published on 06/01/20
Professional sports such as football, basketball, and tennis have always been popular with sports fans in Cyprus, but the legalities of online sports betting are often seen as a grey area in Cyprus.
The great news is sports betting has been legal in Cyprus since 2016, when the Cyprus authorities handed out licenses to several reputable online bookmakers that operate around the world.
Licensed Online Bookmakers in Cyprus
Why Can The Above Bookmakers Offer Online Betting In Cyprus?
After the new gambling laws of 2016 were passed in Cyprus, online bookmakers were allowed to apply for licenses to offer online gambling in Cyprus. The above bookmakers applied and were granted licenses.
These bookmakers had to agree to contribute agreed sums of money to receive their licenses. These included 13% in taxes, an annual license fee of €30,000 or a biannual fee of €45,000, and a minimum share capital contribution of €500,000.
Funding Your Online Betting Account in Cyprus
As most of the legal online bookmakers in Cyprus are big global bookmakers, you should find you can fund your bookmaker accounts with them using a wide range of payment methods.
Payment methods you can use to fund Bookmaker accounts in Cyprus include Visa credit and debit cards, popular e-wallets such as Skrill and Neteller, and pre-paid cards such as Paysafecard. You can also use bank transfers.
What Are The Most Popular Online Sports To Bet On In Cyprus?
Football, tennis, and basketball remain the most popular online sports to bet on in Cyprus. Football has been popular in Cyprus ever since the island was under British rule. Since 1934, the Cypriot Football Association has been in charge of professional football in Cyprus, and many punters love to bet on the Cypriot First Division.
Despite Cyprus only being a small island compared to many of Europe’s biggest footballing nations, APOEL F.C. even made it to the UEFA Champions League quarterfinals in 2012.
As a lot of Cypriots also play tennis, tennis betting is extremely popular in Cyprus. The nation has traditionally followed the career of local hero Marcos Baghdatis, but Greece now has a new tennis hero in the form of Stefanos Tsitsipas, an emerging star of the men’s game who has already taken the scalp of many of the biggest names on the ATP Tour.
Cyprus also has its own domestic professional Basketball league known as the Cyprus Basketball Division A. The league is comprised of a few teams, but the likes of AEL and other clubs have competed well in European competitions against clubs from more high-profile basketballing nations.
Cyprus may never have the firepower to bustle up the big boys in professional sport, but its inhabitants remain huge sports fans that love to enhance watching live sports by being able to bet online in Cyprus. The great news is now they can bet legally online on popular sports in Cyprus such as football, tennis, and basketball.
Why Did The Laws Change In Cyprus?
Gambling Laws have changed in many countries around the world over the last few years and that’s because citizens from many nations have found ways to cheat the system by using VPNs to bet at online bookmakers in other countries. That’s why many countries including Cyprus decided to change their laws and license some online bookmakers to stand bets from their citizens.
Cyprus opened its doors to many international bookmakers before 2012 but changes to the law banned them all and blocked their websites in Cyprus. The local fixed-odds sports betting and lottery provider OPAP then took over the running of all legal betting in Cyprus.
But this decision did not sit well with Cypriot punters that wanted more variety and a more competitive marketplace, which is why many punters started using VPN’s to access a choice of online bookmakers around the world.
After threats of big fines and even imprisonment failed to stop the Cypriot government’s attempts at monopolizing betting in Cyprus, they decided that they would cash in on the opportunity to charge and tax bookmakers heavily for the rights to have a license in Cyprus.
This new policy was brought in during 2016, with the bookmakers listed earlier in the article being the ones to receive a license to offer gambling legally in Cyprus.
Are Some Bookmakers Still Operating Illegally in Cyprus?
Some bookmakers are still operating illegally in Cyprus, allowing members to open and access their accounts using a VPN. This may suit some punters, but it isn’t something we can recommend as a sound way of betting online in Cyprus. That’s because some bookmakers have it written in their terms and conditions that they can refuse to pay out punters that have accessed and placed sites from restricted jurisdictions using a VPN.
Bet Online Legally In Cyprus
That’s why we can only recommend you bet online in Cyprus at one of the licensed bookmakers. It’s these bookmakers that are willing to pay to have these licenses and their payments and contributions also help the Cypriot economy, whilst offering you the chance to bet legally on online sports in Cyprus.
Of course if you prefer the feel and experience of walking into your local friendly bookmakers shop then you have various choices on the island of Cyprus such as MEGABET PLUS, meridianbet, cybet, and Majorbet.