Find banking partners for your Cyprus online sportsbook

Online sports betting in Cyprus is seeing stellar growth. In 2022, iGaming revenue was 36% higher than the previous year, and is set to keep on rising. If you’re looking to apply for a Cyprus iGaming license, now’s the time.  

Important fact: Cyprus only offers licenses for online bookmakers – web-based casinos are not yet permitted in the country.    

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Challenges for online gaming firms in Cyprus

Online bookmakers in Cyprus often struggle to access businessbank accounts. The industry is still relatively young, and iGaming firms areseen as ‘high risk’ by many providers in Cyprus.

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Who regulates online gaming in Cyprus?

The National Betting Authority regulates the iGaming market in Cyprus. Online sportsbooks must pay for 1- or 2-year licenses (€30,000 or €45,000), with the same fees on renewal. You also need to deposit €500,000 with Cyprus’s National Bank to guarantee your liquidity.  

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Discover Cyprus banking solutions with iGaming Core

Find the right bank, electronic money institution or payment service providers for your Cypriot online bookmaker with iGaming Core. We help you launch an online gaming business in Cyprus by:

•  Learning about your operations, business structure, license and target market
• Advising you on the right Cyprus business accounts for your needs
• Finding a partner to process payments for your Cyprus bookmaking business
• Introducing you to Cypriot compliance consultants

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Cyprus online card processing for bookmakers

Major payments cards (Visa, MasterCard, Maestro, American Express) are the most popular payment methods for betting online in Cyprus. Other popular methods include SEPA, Mobiamo and Mint. E-Wallets like Skrill and Paysafe are popular, as well as local e-wallets like OKTOpay and Blueberry.  

Contact ustoday and launch your Cyprus iGaming business with confidence.