Best Online Casinos In Cyprus

History of casino gambling in Cyprus

In Northern Cyprus (the Turkish part), casinos have been popular for over 40 years, mainly near hotels. This contrasts with the southern region, where Cyprus casinos were banned until 2015. The policy change led to rapid growth in casino establishments, beginning with the opening of the first licensed casino, Cyprus Casino C2, in Limassol on June 28, 2018.

The path to legalized gambling in Cyprus was gradual. Before widespread legalization, only a few gambling activities, like horse racing betting (legalized in 1973) and lotteries (legalized in 1983), were permitted.

Cyprus's entry into the European Union in 2004 marked a period of unregulated gambling, with EU member states' online gambling platforms often accessible to Cypriots. It wasn't until 2012 that the Betting Law was implemented, regulating the gambling industry and introducing the National Betting Authority to oversee and license online casino site operators.

Most casinos in Cyprus are concentrated in the Turkish Republic of Northern Cyprus. Turkey's casino ban in 1998 boosted Cyprus' gambling industry as Turkish casino workers moved to the island.

Despite the growth in land-based gambling, online 1 Euro casino gambling remains under-regulated in Cyprus. The law does not permit online casino licenses except for sports betting. While betting operators can legally offer online sports betting, many Cypriots still use unlicensed foreign gaming and betting sites.

The lack of stringent government measures against unlicensed online gambling has led to its increased popularity, especially among the youth, with recent studies indicating that 22% of Cypriot youth participate in online gambling, surpassing the European average​​.

How are online casinos regulated in Cyprus?

In Cyprus, the regulatory landscape for best new casinos is defined by a combination of legal allowances and restrictions. Land-based casinos are permitted, provided they operate as part of a resort, hotel, or spa and are limited to table and card games with a specific cap on slot machines.

In contrast, online casino gaming is predominantly illegal, excluding services offered by OPAP, the Greek lottery company. This monopoly extends to both online and offline lotteries.

Online poker and bingo are illegal, with Cypriot ISPs actively blocking access to related sites. However, players are not penalized for accessing these games on foreign platforms.

Sports betting is an exception in the online gambling laws and regulations in Cyprus, being legally offered by OPAP and other licensed companies, though with restrictions on certain betting forms like dog racing.

Top 5 best cypriot casino sites

The beautiful island of Cyprus, known for its rich history and stunning landscapes, has also become a notable player in online gaming. Leading this sector are five distinguished online casinos.

#1 1xBet

1xBet is a well-known online casino in the Cypriot online casino space, recognized for its vast array of gaming options.

#2 Megapari

Megapari stands out in the Cypriot online casino industry for its impressive selection of games. It is favoured by many players for the following reasons.

#3 22Bet

22Bet is recognized in the Cypriot casino industry for its various casino games. This platform attracts many players with its attractive promotions and high-quality games.

#4 20Bet

20Bet is prominent in the Cypriot online casino market, known for its high-quality selection of casino games and bonuses.

#5 888Starz

888Starz is a unique player in the Cypriot online casino scene, offering a blend of traditional casino games and innovative blockchain-based gaming.

The best casinos in Cyprus: Comparison

Explore Cyprus's top online casinos with our concise comparison. We evaluate the best options, comparing features and gaming experiences.

Main provisions of The Cyprus gambling legislation

The Cypriot gambling legislation, reflecting the island nation's approach to both land-based and online gambling, is structured through various laws and regulatory frameworks. Key among these is the distinction between different types of gambling activities and the stringent conditions set for their operation.

Legal Age and Eligibility

The age restriction is a fundamental provision in the Cypriot gambling legislation. The legal age for participating in real money casino activities, whether in land-based casinos, sports betting facilities, or online sports betting platforms, is set at 18 years.

This rule is stringently enforced, with operators mandated to verify the age of their customers. Non-compliance with these age verification requirements can lead to severe consequences for operators, including hefty fines and the potential revocation of their licenses.

Regulatory Framework and Licensing

The Betting Law 2012 was pivotal in Cyprus’s gambling legislation, establishing the National Betting Authority (NBA). The NBA plays a crucial role in overseeing gambling activities, including handling registration applications, awarding licenses, conducting audits, and supervising gambling operators.

Another significant regulatory body is the National Gaming and Casino Supervision Commission (NGCSC). The legal framework in Cyprus shows a distinct approach towards land-based and online gambling.

For instance, free game casinos like poker, blackjack, video slots, and Fortune Wheels are not legally permitted. Land-based gambling, on the other hand, is subject to stricter regulations.

Licensing Types

In Cyprus, there are two primary types of gambling licenses for new casinos in Cyprus:

Class A License: This covers land-based gambling premises and is essential for operators of physical gambling venues.

Class B License: This is for operators who intend to conduct remote or online betting operations, focusing primarily on sports betting.

Operator Requirements and Taxation

To legally operate a no-deposit bonus casino in Cyprus, a company must fulfill several criteria, including partnership or physical presence, a clean criminal record, and a specified capital endowment.

The financial obligations include an entry fee, license cost, and a paid-in capital requirement. Notably, all transactions must be cashless. The tax regime for licensed sportsbooks involves a flat rate of 13%, a combination of a betting tax and a contribution to the regulatory authority.

Gambling taxes in Cyprus

In Cyprus, online gambling taxation is characterized by a clear and straightforward framework. Licenses for online gambling, primarily intended for companies within the European Union, are issued for 1 to 2 years, with the possibility of extension through relevant applications. The National Betting Authority can suspend or revoke licenses if non-compliance with the law exists.

A significant aspect of this taxation system is the flat tax rate of 13% applied to every licensed sportsbook. This rate comprises a 10% betting tax and a 3% contribution to the Authority. It's important to note that Cyprus has specific regulations regarding online gambling activities.

For instance, only sports betting is permitted as online gambling. Additionally, Cypriot law prohibits minors under 18 from attending betting shops and participating in lottery draws. Minimum deposit casinos in Cyprus can be funded using cards and digital wallets, but cash payments are prohibited​​.

The most popular casino games in Cyprus

The most popular casino games in Cyprus include various options that cater to different player preferences. These games are accessible on online casinos accepting players from Cyprus. They include:

Slots

They are highly favored due to their simple rules and the potential for big jackpots with relatively low wagers.

Video Poker

This casino game combines the elements of slots and traditional poker, requiring skill and strategy to create winning hands from randomly dealt cards.

Blackjack

It is a classic card game where players aim to get as close to 21 as possible without going over, offering fast-paced gameplay and bonus payouts for specific combinations.

Roulette

This free spins casino game is known for its thrilling and unpredictable nature, and players bet on where a spinning ball will land on a rotating wheel. Variants include French, American, and European Roulette, each offering different odds and payouts.

The most famous casino players in Cyprus

In Cyprus, the online casino scene has witnessed some remarkable successes, with players achieving significant wins across various games. Over the last five years, Cypriot players have amassed a total of $3,806,824 from 510 wins, averaging around $7,464 per win on the best fast-payout casino. The data reflects this ongoing trend of impressive achievements.

Among the top performers, Panayiotis P stands out, having secured four major wins. His most notable victory came from the slot game "Goldaur Guardians," where he won a staggering $182,400. Panayiotis P also enjoyed success with "Cat Clans," winning $129,415. These substantial wins place him as one of the most successful online casino players in Cyprus.

Another notable player, Nicholas M, demonstrated prowess in "Double Double Bonus Poker," securing wins of $81,000 and $73,885 on mobile casinos in Cyprus. His consistency in this game highlights his skill and strategy in video poker.

Other players like Mikhail L and Julie D also feature in the list of top winners. Mikhail L's winnings were significant in games like "All Win FC" and "Jewels of the Orient," whereas Julie D's notable win was in "Little Chief Big Cash."

These successes not only highlight the potential for significant wins in online casinos but also showcase the diverse range of games favored by players in Cyprus.

Future of online casinos in Cyprus

The future of Cyprus's casino industry is shaped by the recent opening of the City of Dreams Mediterranean in Limassol, the largest in Europe, offering extensive gaming and leisure facilities. However, no new casino projects are currently planned, largely due to Cyprus's strict gambling regulations.

The country has a highly regulated environment, with only one land-based casino license issued and a complete ban on live casinos in Cyprus. This approach limits the expansion of the casino sector in Cyprus, focusing on controlled and limited gambling ventures.