Leading betting companies insisted at a Monday press conference that gambling officials need take measures towards reducing the influence of OPAP and eventually ending its monopoly on the local gambling market.
According to several prominent companies, the presence of OPAP has a devastating effect on their business and does not allow them to popularize their products. What they demanded was OPAP’s monopoly to be reduced especially when it comes to lottery games such as Lotto and Joker.
According to their claims, OPAP’s practices are not compatible with the fair trade ones established in the European Union.
Mere hours ago, prominent betting companies including CY Bet, MEGABET PLUS, Meridienbet and Bet on Alfa established the Cyprus Betting Companies Association and announced that OPAP’s monopoly reduction will be among their top priorities.
The chairman of the newly created Association, Akis Avraamides, accused politicians of neglecting the issue and not taking adequate measures towards restricting OPAP’s monopoly.
Mr. Avraamides clearly stated that the betting companies insist the monopoly and the preferential treatment of OPAP to end. He added that the company is now managed by Czechs and ensuring fair competition should be among the main responsibilities of the country gambling regulators.
OPAP was established in 1958 and since then, it has successfully consolidated its positions on the gambling market. Back in 2013, Emma Delta Hellenic Holding Limited acquired the majority of stocks.
According to an agreement between Cyprus and Greece, OPAP has the exclusive right to provide gambling products on the island. However, the betting companies are discontent with the fact that OPAP is the monopolist on the market since Greece is no longer a main shareholder and insist on removing its special privileges.
Mr. Avraamides went on to say that betting companies should be enabled to provide their services due to the fact that their presence on the market would be beneficial to the economy. They are likely to make considerable investments, pay taxes and provide residents with plenty of career opportunities.
Apart from that, the members of the Cyprus Betting Companies Association are absolutely convinced that the wider variety of lottery games offered by different providers would definitely reduce the percentage of bets placed on the gray markets.
However, that would not be possible, unless authorities give their consent to the opening of the gambling market for all operators willing to be available on the island.
