Cyprus Finance Minister Warns of Balancing Economic Growth with Gambling Consequences

Cyprus' Finance Minister Makis Keravnos has emphasized the need for greater protection of players in the country's expanding betting industry. In a speech at the 9th Safer Gambling Conference, Keravnos warned that the industry's growth cannot be solely assessed by financial indicators, and that effective regulation, transparency, and citizen protection are equally important. The minister highlighted the risks of digital betting, particularly for children and young adults, and called for zero tolerance towards illegal gambling. He also welcomed the use of artificial intelligence and data analytics to improve player protection and supervision methods. The National Betting Authority's latest figures show a 12% increase in the amount wagered through licensed operators in the first quarter of 2026, with online betting being the main contributor to this growth.