Online casinos may soon be introduced in Cyprus, with the gaming and casino supervision commission confirming that steps have already been taken in this direction.

Although no official decisions have been announced, the commission is examining the issue to ensure it does not conflict with existing legislation, particularly the legal framework governing the operation of the physical casino resort and its branches.

According to Philenews, the authorities are assessing whether the casino resort’s exclusivity rights also extend to the online sector.

The commission has already studied various international models, including the licensing of online casinos offering services abroad.

Such practices are implemented in countries such as Malta and Gibraltar and could be used for comparative analysis with adjustments to accommodate the particularities of Cyprus.

The commission said it already has the know-how, infrastructure and experience to effectively supervise both physical and online casinos.

The Cyprus online gaming association (Coga) said a new regulatory framework would hold multiple advantages, both in state revenue and the protection of the public.

Coga argues that the absence of a legal framework impacted the legitimate companies, competitiveness, public expenditure and the security of both the financial sector and the people.

Online scams are also a concern, as fraudsters exploit the growing interest in online gaming. Legalising online betting and allowing licensed companies to offer such services is seen as a way to protect the public from such risks.