Cyprus with its privileged geographic location in the Mediterranean Sea in the middle of three continents (Europe, Africa, Asia) is the ideal destination for companies interested in the Online Betting Market and as a result there is a huge growth of new betting sites in the island each year.
NetShop's Datacenters in Cyprus have a solid presence at the two biggest Internet Exchange Points in Europe which allows to peer with over 300 international providers, forming direct connections to other networks of importance reducing latency while increasing reliability and network performance.
In 2012 the Cyprus Government published a new document regarding the Betting Law, with new and revised rules and thus controlling and regulating the gambling activities on the island. This document highlights the significants of the National Betting Authority (NBA) which is the central authority for gambling and betting activities in Cyprus.
According to the 2012 document of Betting Law, there are two types of Betting Licences:
Class A: Betting activities and services that take place in licence premises, except those in class B and horse race betting;
Class B: Online gambling, except from certain benefit games machines, online casino games, electronic horse race betting.
National Betting Authority (NBA) issues the licences of betting related activities in Cyprus and supervises authorized betting operators. NBA after approval of companies' application, issues licence for one or two years with the option to be renewed after expiration.
The applications can be submitted by Cyprus Registered Companies either foreign companies with a branch on the island or registered companies in other EU states that have a betting licence in that state, whose main activity is related to gambling. Along with the applications, companies should provide a bank guarantee to the NBA of a Cyprus or of an EU member country Bank.
Our flexible payment and budget-oriented plans concern those businesses that intend to join the Online Gaming industry in Cyprus, Malta or the United Kingdom.
Without too many eligibility criteria or hidden terms, we welcome any Online betting Startup businesses to discuss the means we can be of your financial support.