Cyprus Licensed Casinos
Cyprus Licensed Casinos – A Brief Overview
Located on the coast of Turkey, Cyprus is an island where gambling is not considered legal. That’s why the Gaming Authority of Cyprus and the Cyprus Lotteries offer gaming licenses only to the poker rooms and casinos outside Cyprus. The Cyprus licensed casinos operate outside the island while the sportsbook is legal inside the island.
Requirements for Cyprus Gambling License
If an applicant in Cyprus is LLC registered, he can go for a license. The application process is non-refundable, and all the prospective casinos need to provide their business details, along with financial structure and criminal history. Once the information is checked well, the Cyprus Lotteries and Gaming Authorities approve a license to the casino, online, or offline. Then, the gaming sites need to pay an annual fee of 7000 Euros and the taxes applicable to the profit.
Gambling Licenses in Cyprus
The Cyprus Government promoted the establishment of the National Gambling and Casino Regulatory Authority (NGCRA), providing the licenses of gambling in Cyprus, for both online and land-based casinos. While considering a casino to provide licenses, the gambling authority of Cyprus checks out thoroughly whether there is any criminal history of the casino or not. The casinos have to follow the Code of Conduct of the license authoritative committee. Therefore, violating any rules and regulations can ban the casino and revoke the license instantly.
The Real Picture of Gambling in Cyprus
Gambling is banned on the EU part of Cyprus Island and thus, the tourists mainly travel to its Turkish part. As the interest in gambling is growing, the Government has thought of lifting the ban from the casinos, but there will be strict rules and regulations on those. Usually, the Cyprus LGA does not always check the licenses. The licenses will only get banned if the casino fails to pay taxes on its annual service or annual fee. Due to this reason, it is clear that Cyprus casinos are safe for the players and they serve players’ interests in the first hand. Presently, certain Cyprus casinos are winning the hearts like Planet 7 Casino, WinsPark Casino, Gratorama Casino, and so on.
So, this is certain information you need to have about the best Cyprus casinos. There are many other online casinos where you can play your favorite games and have fun.