Although a small island with just over a million inhabitants, Cypriots love sports. The close proximity of Turkey and Greece influences the love for football and basketball, but also other sports. In addition, the citizens love to bet on such sports and they can do it in a variety of ways.
Nowadays, sports betting sites are becoming more popular than ever, and luckily, Cypriots can place sports bets online. In this article, you will be able to find the best sports betting sites in Cyprus for 2023, how to use them, what to look for, and much more.
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Quick Jump
National Betting Authority (Licenses) – following the changes in the legislation, poker and the provision of games conducted with a Gaming Generator (Slots, casino games, etc.) are completely banned. The National Betting Authority provides two types of licenses:
Platforms that do not have a Class B license, but are not on the Blacklist, are also considered illegal, even if they are licensed in a European Union country. The National Betting Authority is constantly reviewing new applications from platforms wishing to obtain the relevant license and in accordance with articles 25 and 46 of the Betting Law of 2012 106 (I) 2012, is obliged to immediately update the list of licensed platforms.
The security of the players’ money is one of the points that were given extra attention. According to Article 61, betting platforms are required to maintain in a credit institution based in Cyprus a special bank account for the amounts of each player separately, This account should be equal to the balance that the player has in the betting account. Also, the platforms must complete the payouts of the winnings within 5 days, while in case the player has not bet for more than 24 months and has a balance in his account, the bookmaker is obliged to transfer the money to the Authority. Certainly, all the above changes have brought great upset to the Cypriot market, but the landscape is now clear and players can bet knowing when their money is safe.
Do not forget that Greek betting platforms such as OPAP or Stoiximan and some of the biggest names in the global sports betting markets, such as Bet365 and Betfair, currently offer their services in Cyprus. Thus, a very competitive environment has been created, which enables players to bet on high odds and enjoy rich bonuses, always with the security offered by the Betting Law.
Is Online Sports Betting Legal in Cyprus?
Sports betting is legal in Cyprus and there are many bookmakers that offer online services which Cypriots can access with ease.
Choosing your online betting site in Cyprus is not something to be taken lightly. There are now a dozen sites to bet on, all different from each other. Registering on the one or ones that suit you best will allow you to have a good time and put a maximum of chances on your side to win the bet. Bettors should pay attention to several criteria, such as the quality of the odds offered, the bonus offered, the quality of customer service, etc.
Once you have a good first idea of all the different online betting sites in Cyprus, go back to see which ones appeal to you the most. Look more precisely if the sports on which you want to bet are well supplied in bets but do not neglect the other sports. If they don’t appeal to you right now, you may need to diversify your bets with experience.
The quality of the odds that you find on the sites is obviously very important in your choice since it is on these odds that your future earnings will depend. On the surface, these odds are very close to each other, but on closer inspection, there are significant differences that can help you win more on good bets.
The bonuses offered by each online betting site in Cyprus when you register is one of the first criteria to take into account before making your choice. It is with it that you will be able to bet without risk at the start of your career as a sports bettor! Be well aware of the conditions of this bonus.
Let’s take an example, you deposit €100 following your registration, you bet them on odds of 2 on a football match of your choice. If your bet wins, you win €200. If your bet loses, you are immediately credited with €100 and you can withdraw this refund to your bank account.
Since the legalization of online gambling, you can bet safely without worrying about your transactions. Indeed, all the bookmakers approved by Cyprus are carefully checked. The majority of people use the classic bank card because all sites accept it. But you can also use alternative methods such as prepaid top-up tickets such as Paysafecard or electronic wallets such as Skrill (Moneybookers). The speed of transactions and the fees charged are also criteria to look at.
As in any business, the quality of customer service is essential. Online betting sites in Cyprus generally offer contact by email, telephone, or live chat. For more responsiveness, it is preferred to look for sites providing “Live Chat” open 7 days a week, where someone answers you immediately.
To start, register on a site and familiarize yourself with sports betting, the use of bonuses, the choice of odds, etc. But then, remember that by registering on several online betting sites, you will have access to a larger panel of odds and bets. You can then choose to bet on the bookmaker who offers the highest odds and thus have the chance to win more money.
One of the main advantages of betting online is that it is a great way to win some extra money if you are a good bettor. This is especially true if you have the time or knowledge of sports that others may not have. But beware, the majority of bettors lose money! You must quickly have a real strategy to become a winning bettor.
There are many more advantages as well. For example, with online betting sites in Cyprus, you don’t have to go anywhere – you can make your bets from home, or anywhere else. Plus, you don’t have to worry about wearing a suit and tie! And best of all, of course, you don’t have to queue for hours at the betting center on race days.
A number of things make online sports betting sites an attractive option, but there’s only one thing to remember: bet if you know what’s going on. Otherwise, don’t bet at all or risk losing money in the long run.
Before everything else, it is important to find a sports betting site in Cyprus that will provide everything you need. Not to spend much time on it, the list of important criteria is provided above, as well as the best sports betting sites in Cyprus for 2023. You can use either in your search for your favorite bookmaker.
One of the main risks is depositing money on an unidentified site. There are many fraudulent betting sites that try to steal your credit card information or charge you for a service they never provide. You can avoid this by only signing up with brands that have been tested, reviewed, and approved, and are obviously legal. This is why it is important to take a little time before registering on a sports betting site.
When an online bookmaker has been found ((or several), it is time to register and create an account. When you register on the website, an identification process is required. You need to provide your Iban and a copy of an ID, then the bookmaker sends your home a code. This is done to verify your address.
It is of utmost importance to use your real personal information as it will be necessary when withdrawing funds from winnings. The whole process takes a few minutes and once your account is created, you will not have to go through the same process again. Simply use the username and password to login and that’s it. Also, make sure to read terms and conditions carefully before accepting them, in order to be aware of the bookmaker’s dealings in the future.
Once the process has been validated, deposit your first deposit on the online betting site in Cyprus. Several payment methods are possible, such as credit card, Paypal, e-wallets, or bank transfers, depending on the betting site of choice.
Simply go to the banking section on your account, select the payment method, choose the amount that you wish to deposit, and confirm the transaction. Once the money is available, you can place sports bets.
Should you register on several sites or stick to a single bookmaker?
Some punters like to spread their bets between several bookmakers. Others prefer a single site, especially if they only want to place small bets. The big advantage of having several accounts on sports betting sites is that you can compare the odds each time and select the best one.
With deep roots in sports, Cyprus, although a small island in terms of population on the geographical map, nevertheless a large percentage of the island is involved in sports. There is in the culture of the people, parents sending children from an early age to a sport, especially boys in football, and girls to some kind of dance.
The most popular sport on the island is football but there are certainly other sports such as tennis, which after the success of Markos Pagdati, acquired another dimension, the track where there are several athletes who were distinguished worldwide, as well as basketball, volleyball, and motorsport, with the Cyprus Rally gaining a large number of fans in recent years.
Let's take things from the beginning. Football is the most popular sport on the island, both in terms of viewing, participation, and sports betting. At the same time, it is a sport in which several million are spent every year, mainly by clubs. And Cyprus may be unknown to the world most of the time, however, through the successes that the Cypriot teams have achieved, especially in the last 20 years in the European Cups, they have managed to place Cypriot football quite high on the world map.
The culmination was the course of APOEL in 2012 where it competed with the strongest teams in Europe and with its results, managed to do the impossible. There were also other good courses by Cypriot teams in the European Cups. In general, Cypriot football has moved to the "next level" in recent years and this has resulted in attracting players of higher reputation in the football clubs of the island.
In terms of tennis, from 2006 onwards, it became quite popular on the island, with many people getting involved either professionally or as a hobby. The reason for this growing course of the sport was Markos Pagdatis, the Cypriot professional tennis player. Pagdati managed to stir up the world after his results in 2006 at the Australian Open where he went to the final and at Wimbledon to the semifinal.
Although the continuation of Pagdati was not proportional to his beginning, nevertheless, the people in Cyprus supported the Cypriot athlete whom he considers a "National Hero". Many started playing sports bets because of that and tennis, like in many countries worldwide, is very popular among Cypriot bettors.
On the other hand, rally in Cyprus is a popular sport that attracts many fans. This is a competition that has been held annually in Cyprus since 1970. The Cyprus Rally was part of the FIA World Rally Championship (WRC) from 2000 to 2006. Now it belongs to the 2nd class category but still continues to gather a large number of spectators. The routes are mainly carried out every year in the provinces of Nicosia and Larnaca. With a large number of participating foreign drivers declaring that this is a difficult race with difficult routes. Other moto races, such as F1 and Grand Prix, are incredibly popular among bettors in Cyprus.
It is also noteworthy that in recent years, Cypriot athletes have achieved several significant successes in athletics and the Olympic Games. Pavlos Kontidis, who competes in the men's Laser Sailing category, became the first Cypriot athlete to win an Olympic medal by winning silver at the 2012 Olympic Games in London. Milan Trajkovic after 7th place in the final of the 2016 Olympics in Rio de Janeiro, managed in 2019 to climb to the highest step of the podium at the Pan-European Games held in Glasgow. Naturally, when the Olympics are being held, Cypriots love placing bets on such events.
In conclusion, it is worth mentioning that sports in Cyprus have now become one of the most important activities in the life of Cypriots. With the interest of more and more young people increasing but also with the creation of more sports, the certainty is that Cyprus will never cease to be an island of sports, or sports betting.
In Cyprus, it is possible to bet on non-sporting events as well. Since life does not end in sports, the same goes for special bets. Thus, in addition to sports, special bets have been added concerning events from other aspects of human life, such as politics and entertainment. An example can come from entertainment - betting on the evolution of a TV series. In politics, on the other hand, the player has the opportunity to bet on the winner of a political showdown or who will be the next US president. At the same time, events with global or pan-European impact, such as the Oscars and Eurovision, are also offered for betting in many categories. In conclusion, most sports betting sites in Cyprus in the field offer a variety of betting markets for aspects of everyday life and public life outside of sports.
It is logical that the variety of special bets is very large, in order to satisfy even the most extreme desires of the players. Nevertheless, there are certain categories of special bets that are clearly more popular in the preferences of registered members of betting companies in Cyprus. The following are often preferred on the football field: number of corners in a match, number of yellow cards that the referee will issue, and the first player to score. Basketball special bets also come close, such as the number of points a player will score in a game. At the same time, many of the companies' clients are involved in long-term bets (such as the winner of the next World Cup), in which the odds are higher.
Beginners who want to get involved in sports betting fun should be familiar with the online bookmaker mode in advance. Those who do not understand the importance of odds will never be able to make a sensible bet.
The following guide carefully examines the different types of bets that can be found in Cyprus.
The classic typing bet is the single bet. The bettor selects a sporting event from the portfolio and places his bet on a probability of results. If his prediction is correct, the betting slip is won. He receives his bet multiplied by the odds as income. If the tip is wrong, the money invested is lost.
We have chosen the Bundesliga match between Bayer 04 Leverkusen and FC Bayern Munich as an example. At a bookmaker, the game is offered as follows:
Bayer 04 Leverkusen vs Bayern Munich 4. 80 – 4. 00 – 1. 72
If you want to bet ten euros on FC Bayern, the bets will be settled as follows:
The second most popular betting method is combination tips. Many matches in a betting slip are combined. As the odds multiply, the potential profit increases rapidly. The difficulty with combined bets is that all matches on a ticket must be correct. If a mistake has been made, the betting slip is a lost one.
In the example of the Bundesliga, we have extended the bet slip by two more matches.
We expect an away victory in all three games. In this case, the bet will look like this:
The third known type of bet in Cyprus is the system tips. It is mainly used to secure combined bets. Multiple bet lines are played simultaneously on a bet slip. Even with one or two mistakes (depending on the system and betting odds) you can still win. In most cases, system bets can be used to limit at least part of the loss. Of course, there is also a negative fact about the system bets. The odds are significantly lower than with comparable combined bets.
The “2 out of 3” system can be played in three games. The bet slip consists of three series of bets: AB, AC, and BC. In our case, we assume that 1 FC Cologne, match C, will not win, while FC Bayern and Hertha BSC will win away. The system bet is then set as follows.
As in our example, we doubled our bet, even though an error went into our bet slip.
Sports betting is also distinguished between 2- and 3-way markets. It should be very easy to understand this. The classic 3-way bet can be found in football or ice hockey. You can place your bets on win, draw or win. In a 2 way market, there is no tie. It’s all about winning or losing. Typical of this is tennis betting.
Cypriot bettors focus as much as possible on 2-way betting, especially when releasing betting provider bonuses. In this way, they significantly reduce the potential risk of loss. It’s up to you which sports, leagues, and competitions you will put together on a bet slip for a combination or system bet. Bookmakers will give you a completely free hand at this point. There is almost no problem betting a match from the football league along with a match from the amateur top league. You can fill the betting slip with more options from handball, surfing, or winter sports – as you like.
You will surely have noticed in the betting company in which you have registered, that in the matches of all sports, in addition to the basic markets (Match Winner, Over/Under, Goal/No Goal), there are several more that are out of the ordinary. In fact, every possible and improbable aspect of an event is offered for betting, apart from the final winner and the above. For example, in football the bettor has the option to bet on scorers, the number of corners, the yellow or red cards that will come out of the referee’s pocket, the half-time most goals will be scored, and even which goalkeeper will touch the ball first. In basketball, one can bet on a player’s points or assists, on the winner of each season, but also on head-to-head overall wins.
Of course, special bets extend to less popular sports than the two “big” ones, such as tennis, volleyball, hockey and Formula 1. For example, in tennis (which is hugely popular in the country), there is a wide range of special bets, such as the winner of each set or each game, the exact score of the set, the exact score of the match, etc. Let’s not forget, too, the existence of long-term bets, such as those for the next World Cup or the next EURO.
If you are new to betting, you need to learn how to calculate the profit margins of sports betting sites in Cyprus. Simply put, when we look at betting odds it means that bookmakers have calculated the margin from accepting bets for a particular market. They also adjust the odds to attract bets in the right proportion to ensure a profit regardless of the outcome. This is achieved by offering odds that do not fairly represent the true statistical probability of these events. So the deviation from the “real odds” is the betting profit margin of the bookmaker in Cyprus.
The simplest analogy for explaining profit margins is in an equally probable event with two outcomes such as e.g. spinning a coin. For example, the bet with a friend, in which you bet 10€ to win respectively 10€, in case of verification of your prediction. Under these conditions, there is no margin, as the odds given are 2 and reflect the actual probability (0.5 or 50%) of the event. Therefore we have a 100% buy bet with zero margin!
However, if in the above example, someone seeks a profit from the bet, in this case, a sports betting site in Cyprus, the purchase rate of this event would be greater than 100%. The difference even determines the size of the profit margin held by the bookmaker against the gambler, otherwise known as the commission or rake. By comparing the fluctuations of these margins as well as the individual differences between different companies we can determine where we will have a lower margin and therefore a higher profit.
The concept of value of a bet concerns the market as a whole, taking into account the odds for all results. In order to calculate the margin, it is enough to calculate:
(1 / Option A) * 100 + (1 / Option B) * 100 if there are only two possible outcomes of an event, for example, the odds of winning a tennis match between Player A and Player B (since there is no tie in tennis). You could calculate the yield margin as follows:
(1 / 1.926) * 100 + (1 / 2.02 * 100) = 51.92 + 49.51 = 101.43% of the market, i.e. a margin of 1.43%.
In the case of a football match, the result will have 3 possible results (1, X or 2), so the margin is calculated by the sum of equal terms in the way explained above.
Today, there are many online betting operators on the market, and each sports betting offer has something for everyone. To motivate new bettors, operators do not hesitate to offer what we call “bookmaker bonuses”. Each offer in sports betting brings you game credits to bet for free and bet with more inflated possibilities. The 3 main categories of sports betting bonuses in Cyprus are:
Today, to the delight of Cypriot bettors, there is a wide variety of promotional offers on sports betting sites. But it is more than important to know the ins and outs of it to take full advantage of it and not make mistakes. Registration bonus, losing bet refunded, free bet, referral bonus, no deposit bonus… The names and methods are multiplying, but in the end, the sports betting offer is divided into three main categories to know in order to fully understand what bonus you are dealing with. So here they are below:
Undisputed marketing weapons of sports betting sites in Cyprus to attract new bettors, welcome bonuses are important to understand. This bookmaker offer is indeed your gateway to the world of betting. In practice, it makes you start in sports betting with a fully inflated betting budget, part of which is offered by the operator. The advantages are multiple:
The welcome bonuses offered by the various operators are therefore clear and easy to obtain. However, they are nonetheless very diverse in terms of amount and modality. Between a registration offer in the form of free bets and a so-called cash bonus, there is a whole world. The most common one is the “Matching Bonus”, where a bookmaker matches or multiplies the bettor’s first deposit. For example, if bettor deposits 100e after registration, the sports betting site in Cyprus can offer an additional 100e, or even 200e for free. Of course, these must be used for sports betting and cannot be immediately withdrawn.
Promotional bonuses form the second largest family of sports betting bonuses. With these, you get additional benefits after creating your account with an operator. Bookmakers offer these bonuses very regularly. With these promotional bonuses, you can renew the pleasure of betting without being out of pocket. Perfect for trying daring bets, discovering new sports, or testing yourself in new competitions. Operators share many different promo bonuses. Here are the top 5 in Cyprus:
On the promotional bonuses, we therefore find everyone, and real opportunities to bet frequently at a lower cost. It is still necessary to know the good plans not to be missed and the most generous sports betting sites in this area.
Last category of bonuses in sports betting are the loyalty bonuses. These reward your attendance and level of activity on a betting platform. They also come to celebrate the bond of trust that is woven over time with your favorite bookmaker. On the operator’s side, bookmakers want to acquire new bettors, but above all, keep them betting for a long time.
In this logic, the more often and for a long time you bet at a bookmaker, the more the loyalty bonuses accumulate. Loyalty bonuses vary in form and modality – cashback, loyalty points, sponsorship, VIP bonuses… Finding sports betting sites in Cyprus that offer such promotions is always recommended as it can turn out to be quite profitable in the long run.
Before you win any winnings from your sports bets, you will first have to deposit money on the site of an online bookmaker in Cyprus. Bettors will have to choose from a whole range of deposit methods that bookmakers offer on their platform. However, faced with this wide choice, it can be difficult to know how to find the method that will suit you best. Here is a quick guide on how to make the right choice by presenting the main means of transactions offered by online bookmakers in the country.
✅ Bank Cards – This method is highly appreciated by players for its ease of use. Indeed, transactions carried out by Visa / Mastercard are carried out simply and quickly. For example, if you want to make a deposit, all you have to do is enter your card number, your name and the visual cryptogram on the back of the card. Your account will then be credited and you can start placing your bets.
✅ Electronic Wallets – Electronic wallets are very useful for bettors since they allow you to make your deposits, but also to withdraw your winnings in the event of winning bets. Indeed, e-wallets are like an online bank account. Unlike the latter, they have the advantage of leaving no trace of your banking transactions. In Cyprus, bettors are fortunate to be able to use many types of electronic wallets, such as Skrill, Ecopayz, Neteller, Paypal, etc. These are authorized by bookmakers and are a solid alternative to the traditional bank card.
✅ Prepaid Tickets – Prepaid tickets are cards credited with the sum of your choice that you can obtain from approved retailers, such as supermarkets, newsagents and even directly on the internet. These tickets allow you to make your purchases on the Internet in complete safety. To do this, you will find a serial number on each of these tickets. When you want to make your deposit on your online bookmaker, all you have to do is fill in this number. The best known prepaid card solutions are Ukash, Entropay, Neosurf, or Paysafecard. Not all are present but can be used, depending on a betting site. On the other hand, prepaid tickets do not allow you to receive your winnings. You will therefore have to turn to another method of transaction to be able to withdraw your money.
✅ Bank Transfers – Some online bookmakers offer to make your deposits by bank transfer. To do this, you will need to send your IBAN to your bookmaker’s customer service department. Customer support agents will then take care of crediting your account. In addition, some sports betting sites also allow you to withdraw your winnings by bank transfer. On the other hand, whether for your deposits or your withdrawals, you will have to be patient since this transaction method generally takes longer than those we have presented to you above.
✅ Bitcoin – Still unknown a few years ago, Bitcoin has become a payment method that is growing in popularity. Developed in 2008, the inventor of Bitcoin aimed to create a virtual currency that could be exchanged between private users without the intervention of banking or state authorities. It is clear that the goal is about to be reached. More and more e-commerce sites and online gambling sites are accepting bitcoin payments. They are fast, secure, and can be used anywhere. The main downsides are that they are still not widespread and not many people deal with cryptocurrencies in Cyprus.
What Is the Best Payment Option for Cypriot Players?
When gambling nationally, credit cards are the best option for they are fast and present. When choosing foreign bookmakers, the use of e-wallets is preferred due to their safety and widespread options.
Gambling in general is legal in Cyprus but under many regulations and bans. For example, online casinos, and horse and dog races are illegal, while land-based casinos and bookmakers, as well as online bookmakers, are legal. Some casino games can be legal but under special circumstances.
Gambling is well regulated in Cyprus and gambling online is quite safe, if legal. Gambling at foreign gaming houses is possible as well, but players must choose safe, legal, and licensed houses.
Sports betting is legal in Cyprus, both online and on land, and regulations make it incredibly safe.
Different bookmakers will set different deposit limits and it is recommended to check out that aspect before joining a sports betting site. Be that as it may, all limits are usually within everyone’s possibilities.
Online gambling houses will pay the tax directly therefore players will not have to pay any gambling tax at all (except for lottery winnings).
Depending on a bookmaker and the withdrawal method, it can take from one day to several. With cryptocurrencies and e-wallets, the money should be available 24 hours after the withdrawal has been issued. Credit cards take around 2-3 days while bank transfers take almost a week.
In an ocean of betting sites, declaring a single site as the best one is impossible. Instead, as bettors will have specific tastes, they should go for safe and legal sites that offer services according to such tastes.
Many sports are available, depending on a betting site, most commonly football, basketball, tennis, moto races, volleyball, handball, eSports, etc.
Football is by far the most popular among Cypriots, closely followed by basketball and tennis.
Odds are basically the chances of an outcome represented in decimal numbers. The higher the number, the more unlikely the event will happen. For example, if the odds of APOEL winning at home are 1.2 and the visiting team’s odds are 4.0, APOEL will obviously be the favorite.
Certain bookmakers will offer free bets. These are sometimes hard to find and come with higher betting requirements but always good to claim as they offer free betting.
To claim the welcome bonus, it is necessary to create a betting account with the bookmaker. Upon registration, all the bonuses will be present. Some can be claimed without deposits while others require them. If a promo code must be entered, a quick call to customer support will fix the situation immediately.
The government is placing much emphasis on responsible and safe gambling, therefore there will be many helplines and institutions offering help for those who experience gambling addiction. Players can, for example, visit Safer Gambling, Pharos Gambling Addiction Center, or call helplines such as 1402 or 1422.
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