This week, the National Betting Authority (NBA) confirmed the issuance of two new official online betting licenses to Betfair and to Meridian Gaming (CY) Ltd, which operates via the Meridianbet.com.cy domain in Cyprus.
The two licensees join UK online betting Bet365’s Cyprus subsidiary, as well as Bet On Alfa Ltd and Gambling Malta Ltd’s Stoiximan brand, as the only other operators currently granted full authorization by the NBA to offer online betting services to Cypriot punters.
The NBA issued eight transitional online betting licenses last November to companies including Sportingbet and Winmasters. That move followed just one month after the NBA began accepting applications for the new online licenses.
Under the new licensing regime, approved online sports betting operators pay an effective tax of 13% of gaming revenue – 10% in direct tax, plus 2% to Cypriot sporting bodies and a further 1% to fund responsible gambling initiatives.
The NBA has yet to issue a license to the local operations of Greek betting and lottery operator OPAP, reflecting the current relationship between OPAP and the Cypriot government.
Source: GMB
