In accordance to the hottest economic news, the gambling market in Cyprus proceeds to generate earnings even with the damaging implications of the pandemic.
The modern figures showed that the sector could generate 3.4% of the gross domestic item value in 2019. This tendency was saved in 2020 as the gaming sector remained at three % of GDP, notwithstanding the financial troubles induced by COVID-19. This was a triple increment in comparison to 2016’s a person %. Such a contribution to GDP is the outcome of good GGR.
Ioanna Fiakkou, the head of the Countrywide Betting Authority, has supplied the knowledge and commented on them, declaring that safe gambling stays the precedence for the system and the field taken as complete. Operators ought to target on their obligations to be certain a safer gambling experience. The chairwoman has emphasized that the pandemic has had a considerable affect on the profits created by the sector, but the financial benefits also show the performance of present regulations. She has confirmed that the Authority is developing a self-exclusion program that will be adopted by corporations, which comply with all the needs.
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