.svg)
Body
The National Betting Authority (NBA) of Cyprus is adding a raft of safer gambling best practices into its rules for online bookmakers.
The new regulations were published at the start of September and primarily focus on four key areas: information available to consumers to promote responsible gambling; requirements for safer gambling tools; stake and deposit limits; and improving safeguards to prevent underage gambling.
Ioanna Fiakkou, president of the NBA’s board, which regulates online and land-based bookmakers, said the aim of the changes is to “improve the sustainability of the market and improve player protection”.
“The regulations reflect opportunities presented by new technologies, industry convergence on safer gambling issues, and a shift in expectations by licensees, players, and society,” Fiakkou told VIXIO GamblingCompliance.
All of the changes come into force on October 1, 2022.
Among a host of new requirements for licensees includes mandatory setting of deposit limits and stake limits.
Players must also have access to all their betting history just a single click away at all times and receive “reality checks” that remind them of their net win/loss since registration.
The regulations also contain minimum requirements for website and betting ticket signposting, the way terms and conditions are drafted, consumer query helplines and for all bookmakers to establish a “specialised safer gambling website”.
A universal self-exclusion scheme for both online and land-based gambling has also been introduced.
For land-based bookmakers, the changes will mean significant training and due diligence for employees. Staff must be informed on safer gambling treatment advice and receive “adequate and systematic training on safer gambling”.
Age verification is also now mandatory for anyone that looks under 25 years old and the view of betting shop interiors must not be obstructed.
Additionally, detailed reports regarding the implementation of self-protection measures must be submitted to the NBA on a quarterly basis.
