Cyprus to Regulate Bingo

Sun, Dec 3, 2017

The government of Cyprus has announced plans to regulate bingo in the country. Finance Minister Harris Georgiades says legislation is in the works to establish official oversight of the multimillion-dollar industry.

Also seeks lottery takeover

The finance minister of Cyprus has confirmed that the government is planning to regulate bingo. “It is an activity whose turnover, according to estimates, exceeds €100 million (US$118 million) per year but has been done in a completely unregulated way,” said Harris Georgiades.

Georgiades said the government also wants to assume control of the state lottery and bring it under the control of National Betting Authority. He confirmed that parliament is considering another bill that would regulate games offered by gambling monopoly OPAP, reported the Cyprus Mail.

In October, the NBA revealed that it is conducting a study to assess the gambling habits of Cypriot residents. The survey is meant to look at frequency of gambling and other behaviors to determine problem gambling policies.

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