ABOUT US
The Cyprus Bookmakers Association was established on November 3, 2015 and its members are the A 'and / or Class B' licensed companies by the National Betting Authority and companies who are planning to invest in the Cyprus betting market. The main purpose of the Cyprus Bookmakers Association is to promote a healthy working environment for members and to regulate the Betting Industry in Cyprus, aiming to increase the jobs and benefits for both Cypriot society and the state.
OFFER TO SOCIETY
The members of the Cyprus Bookmakers Association have been offering to society since 1989 approximately 4000 jobs with 500 branches in Cyprus. Betting companies have invested millions, pay annually a respected amount of money to the state as a betting tax, licensing fees, have deposited guarantees to the state for their operation, and contribute to the Cypriot economy by paying VAT, Social Insurance, etc.
VISION
Our vision is:
1. Enriching the market with new products
2. The regulation, legalization and control of the Betting Industry
3. Free and healthy competition
Benefits of enriching the market with new products will be reduction of unemployment, creation of new jobs, attraction of new investments and business opportunities for Cypriot and foreign businessmen.
At the same time, the regulation, legalization and control of the Betting Industry has proved to be the most effective measure to combat the illegality and money laundering.
Finally, free and healthy competition will promote healthy and smooth growth for the Association's members.
CONSUMER PROTECTION AND SOCIAL RESPONSIBILITY
Consumer protection and social/corporate responsibility
Measures to protect players and society such as:
1. Prevent and protect minors from gambling.
2. The security of customers and their personal data.
3. Protection against money laundering and other corruption practices.
GOAL
1. The liberalization, regulation and correction of the market by the distortions of the past.
2. Harmonization with Community law, which is in favor of regulated markets but not in favor of generalized bans.
3. Healthy competition.