The Cyprus National Betting Authority lobbied the parliament for a €1 million budget in order to fight against gambling addiction amongst the country’s youth population.
According to the Financial Mirror, the group’s chairman, Ioanna Fiakkou, sent data to parliament showing how the group plans to spend the money to promote responsible gambling.
The group wants to establish a center that will help prevent and intervene in cases of gambling addiction. Cyprus National Betting Authority also has plans to set up an online platform to allow players to self-exclude from gambling sites.
A University of Nicosia study found 75 percent of Cypriots over the age of 15 have participated in gambling activities. The small island nation has become a hub of gambling in Europe and many large gambling companies have offices in Cyprus.
Ten online betting companies have a license to operate in Cyprus and the country has 528 physical betting shops. All of this for a population of just over 850,000 people.