Sun. Jul 7th, 2024

Cyprus Launches National Self-Exclusion Platform for Online Gambling

On the 20th of February, the nation of Cyprus launched a country-wide system designed to address problem gambling. Known as the Personal Self-Exclusion Platform (PSC), this system empowers individuals to manage their wagering behaviors.

Established and operated by the National Betting Authority, the PSC represents a crucial element of Cyprus’s 2022-2025 responsible gaming plan. Individuals can elect to self-exclude for a predetermined duration or even permanently, based on their requirements. Significantly, although players who participate are restricted from placing bets, they retain the ability to access their accounts and withdraw any existing funds held by operators.

The President of the National Betting Authority, Ioanna Fiakkou, stressed the tool’s significance, remarking, “This is a robust instrument intended to foster healthy gaming practices and safeguard at-risk populations.” She further emphasized that the PSC “demonstrates the Authority’s dedication to shielding players and cultivating a sustainable and equitable setting for the gaming sector.”

In its initial phase, the platform will solely encompass online gaming services authorized under the Authority’s Class B license, but expansion plans are in place to incorporate a larger portion of the industry.

The PSC is available without charge and encompasses all categories of gaming services and providers. In addition to prohibiting users from placing wagers on any existing accounts, it will also prevent them from establishing new ones.

Fiacou stated: “For this reason, today we are issuing a public call to action for all involved parties – collaborating closely with their respective governing bodies and national regulatory agencies – to integrate athletes and other relevant groups into specialized platforms.”

He continued, “This initiative will bolster the efforts against match manipulation and enhance the openness of sporting competitions, a paramount objective within the Authority’s strategic roadmap.”

“We are especially gratified that another significant milestone is being achieved as we take decisive measures toward the aims outlined in the Responsible Gaming Strategy, reinforcing the safeguarding of the public, aiding in mitigating their susceptibility, and elevating the sector’s sustainability in a positive trajectory.”

It is noteworthy that Cyprus is not the sole entity prioritizing self-exclusion – Australia’s recently launched BetStop program published its enrollment statistics shortly before the Christmas holiday.

Author

By William "Whisper" Anderson

This accomplished writer holds a Bachelor's degree in Applied Mathematics and a Master's in Financial Engineering. Their expertise in stochastic calculus, time series analysis, and risk management allows them to provide in-depth analysis of casino games and betting strategies. They have a passion for educating readers on the mathematical foundations of gambling and helping them make informed decisions. Their work has been published in numerous industry journals and online platforms.

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