The administration of Cyprus is carefully reviewing its gaming contract with the Hellenic gaming powerhouse, OPAP. They are dissatisfied with the revenue losses stemming from OPAP’s exclusive control over lottery operations in the country. It seems that approximately 2,500 unlicensed internet gambling platforms have been focusing on Cypriot participants, resulting in an estimated monthly loss of €1 million for the government. As officials endeavor to close down these websites, they are also urging OPAP to increase its yearly contributions and relinquish an extra 20% levy on lottery earnings. OPAP has been active in Cyprus since 1969, but this heightened examination could compel them to negotiate or face the potential loss of their sole privileges.
By Joseph "Jester" Adams
This talented writer holds a Master's degree in Mathematics and a Bachelor's in Economics. They have a strong foundation in game theory, microeconomics, and econometrics, which they apply to the study of strategic interactions and decision-making in casino settings. Their articles and news pieces provide readers with a unique perspective on the economic forces shaping the gambling industry and the strategies used by casinos to maintain competitiveness. They are passionate about educating readers on the importance of rational decision-making and responsible gambling practices.