Cyprus Gambling & Gaming Payment Gateway

Cyprus Gambling & Gaming Payment Gateway

Cyprus is a relatively newcomer to the online gaming scene. The eastern Mediterranean island only legalised internet gambling in 2026, and licences are only available for sports gambling (online casinos and games of chance are still illegal). Nonetheless, Online sports gambling has become popular in Cyprus and appears to have a promising future.

Cyprus online gambling statistics

For online gambling companies wanting to expand their market share, Cyprus is a popular choice. Our analysis of Cyprus online gaming statistics provides a picture of a vibrant business.

Cyprus gaming market size

Cyprus regulated betting market closed 2025 with total gross revenue from Class A and Class B operators reaching €1.33 billion for the year, an 8 per cent increase over the €1.22 billion recorded in 2024. That followed a 10 per cent rise in 2024 full-year total to €1.224 billion, up from €1.109 billion in 2023.

Online betting continues to outpace retail: in the fourth quarter of 2025, total gross revenue rose 22 per cent year-on-year to €395.5 million, with Class B operators generating €301.5 million of that and Class A land-based premises accounting for €94.1 million — Class B revenue alone grew 27 per cent year-on-year. On payouts, full-year 2025 player payouts across both categories totalled €1.17 billion, up 9 per cent from 2024, while Q4 2025 payouts reached €348.2 million, of which online players received €271.5 million. As of that quarter, 13 Class B operators were active in the market

If you're considering starting an online gaming business in Cyprus, it's important to analyse the local market. Other than acquiring a payment gateway for your gambling business is also important.

Gambling Merchant Accounts ensure that payment transactions for gambling businesses or merchants are flexible and convenient, allowing the company to flourish. Merchant accounts enable commercial transactions by providing businesses with an effective payment gateway that allows them to adapt to their changing business needs.

Businesses also want them to stabilise and optimise payment transactions while also making them safe so that no third parties are involved. The gambling is a high-risk business that provides consumers with gaming and gambling services.

Functionality of the Gambling Merchant Account

Apart from adding various capabilities, it also allows you to take a variety of payment methods, which will result in a significant increase in sales volume for a long period.

Another advantage of having a merchant account is better integration. When you add a merchant account to your system, it drives the smoothness and flexibility of the entire system. Because businesses do not want an inefficient system that is hesitant to do their desired task and performs poorly. You don't want your payment gateway to take an excessive amount of time to integrate with your system.

Obtaining a merchant account can help firms increase their high volume of sales. Aside from that, you'll have access to further tools that will assist you in becoming a viable internet merchant.

However, several security features have been incorporated to make it a complete package for you. It also allows you to expand your business more quickly, and these extra features are critical in selecting the best decision.

Certainly, you will not be required to pay any further fees because you have already paid for the entire package of services.

What is the procedure for obtaining a Gambling Merchant Account?

It is not easy to run a business. Businesses must address obstacles in order to improve their prospects. A gambling Merchant Account is required to give superior elements of the business.

Certain documents, such as your driver's licence, must accompany you.
A government-issued ID card, such as a voter ID card or a driver's licence.
A bank letter or a cheque that has already been printed
3 months' worth of bank statements and 3 months' worth of processing statements
Employer Identification Number or Social Security Number
Chargebacks must be no more than 2%.
Merchants must also maintain an internet presence. Approval for a merchant account may take 5 to 7 business days.

When it comes to online gaming, look for WebPays. WebPays can easily provide an Online Gaming Merchant Account to any online gaming company. We may provide you with a merchant account to expedite your transactions. You may expect the best transaction in your business with our solutions.

Additionally, for exclusive business, you may seek services such as credit card processing, ACH payment processing solution, PCI-DSS solution, API integrated tools, secure payment gateway procedures, and more.

Tags : iGaming Payment Gateway in Malta, Forex Payment Gateway Cyprus, IPTV Payment Gateway Estonia, Global Payment Gateway, Import Export Merchant Account

Frequently Asked Questions (FAQs) Payment Gateway Cyprus

1 What is a Cyprus gambling payment gateway?

A Cyprus gambling payment gateway is payment infrastructure that enables eligible online betting or gaming businesses to accept and process customer payments through supported payment methods. It connects the merchant platform with the relevant payment-processing and financial infrastructure.

2 Can WebPays provide payment processing for gambling businesses in Cyprus?

WebPays provides payment solutions for eligible gambling and gaming merchants, subject to compliance checks, underwriting, licensing requirements, and processor availability. The exact solution depends on the merchant business model, jurisdiction, target customers, and transaction requirements.

3 What documents are required to apply for a gambling merchant account?

Requirements vary by provider and merchant, but businesses may need to provide company documents, identification of directors and beneficial owners, banking information, gambling licence documentation, processing history, website details, and information about their ownership, operations, and expected transaction volumes.

4 Can a gambling payment gateway support international customers?

Potentially, yes. International payment acceptance depends on the merchant approved processing arrangement, customer locations, currencies, payment methods, and applicable regulatory restrictions. WebPays can evaluate cross-border processing requirements as part of the merchant application.

5 Does having a payment gateway mean a gambling business is licensed?

No. A payment gateway and a gambling licence serve different purposes. A merchant must independently comply with the gambling laws and licensing requirements applicable to its activities and target markets. Payment processing approval does not constitute gambling regulatory approval.