To ensure compliance with the existing gambling regulations and combat problem gambling by creating awareness about the negative impacts of compulsive gambling, the Cyprus National Betting Authority is seeking a budget to the tune of €1m.
The gambling addiction has been on the rise in Cyprus, and especially it has been spreading in the younger generation. The voices demanding steps to curb problem gambling issues have been surfacing in the local press.
Now the betting authority has asked the government to support them with €1m in funds to help those facing gambling problems and also to control the spread of gambling addiction in youth.
The Cyprus National Betting Authority seems to have a clear roadmap which includes campaigns promoting responsible gambling, counseling problem gamblers and also creating clinics to provide the necessary support to those affected by compulsive gambling.
While the funds sought will be spent on creating new facilities it will also upgrade and equip the existing to tackle more cases.
The authority is also planning to introduce an online platform which will allow problem gamblers to self-exclude themselves from getting involved with any kind gambling activities.
Cyprus casinos have been raking is significant revenues, and a recent report revealed that the country made €35m in tax revenue in just six months after the casinos in Cyprus began operating. It was also reported that the three temporary casinos, Limassol, Nicosia and Larnaca airport casinos in Cyprus had a footfall of over 470,000 players in the last six months.