The betting authority from Cyprus decided to suspend the license of Royal Highgate for two months.

The National Betting Authority announced this week that Royal Highgate Public Company Ltd has seen its operations license suspended for two months for failing to comply with its terms.

According to the authority’s announcement, Royal Highgate will not be able to provide betting services as the 2012 law on betting establishes that for violations its license has been suspended for two months. The same procedure applies for all establishments acting as authorized representatives of the company, the authority said.

In October, the authority announced it will conduct a quantitative survey to assess Cypriot gamblers’ habits. The survey will record gambling habits (frequency of participation, behaviour, characteristics) of people engaging the activity in order to determine protective policies to prevent gambling problems. The study will be conducted among 3k randomly selected individuals and will include groups of ages 13 to 17, 18-34, 35-49, 50-64 and 65-older. The NBA explained that it will also try to identify how well known is the difference between legal and illegal gambling, while attempting to categorise gambling profiles (social, pathological, addicts, etc).

Betfred is set to expand the reach of its new TradeFred Forex and CFDs online trading platform into Cyprus, according to LeapRate.com.

The result of a partnership between Betfred and Vanuatu-registered MagicPath Capital, the platform went live in June.

At the time of its launch, TradeFred only held a licence issued by the Vanuatu Financial Services Commission and had not been not cleared for operations in the UK or Europe.

However, LeapRate.com has reported that TradeFred will soon expand with a new Europe-regulated entity in Cyprus and has established a subsidiary in the country to support the move.

TradeFred is also expected to announce that it has obtained a CIF licence from the Cyprus Securities and Exchange Commission, which will allow it to take clients from European countries and the UK.

MagicPath is listed as the owner of the TradeFred brand, while Betfred serves as a technology provider.

The National Betting Authority announced it will conduct a quantitative survey to assess Cypriot gamblers’ habits.

Gambling habits need a study by the authorities in order to determine if there’s an unhealthy offering and a need to apply protective policies. However, Cyprus hasn’t done it yet but is set to organise the first quantitative survey in the country to assess local gambler’s behaviour.

The survey was announced by the National Betting Authority (NBA) and will record gambling habits (frequency of participation, behaviour, characteristics) of people engaging the activity in order to determine protective policies to prevent gambling problems.

Ioanna Fiakou, NBA Chairwoman, explained that conducting surveys and studies is within its mandate and assured the lack of such annalysis in Cyprus justifies the need for this one, which will start this Wednesday.

“The authority has commissioned Insights Market Research (IMR) Ltd to conduct a quantitative survey by interviewing 3k individuals, in order to study and investigate the Cypriot public’s extent of participation in games of chance,” said Ms Fiakou and added: “The survey’s goals focus on recording the extent of participation in gambling activities, identifying the extent of problematic participation among the public, studying gamblers’ social and demographic traits, the frequency with which they engage in gambling, and their budgeted and real spending in gambling.”

The study will be conducted among 3k randomly selected individuals and will include groups of ages 13 to 17, 18-34, 35-49, 50-64 and 65-older. The NBA explained that it will also try to identify how well known is the difference between legal and illegal gambling, while attempting to categorise gambling profiles (social, pathological, addicts, etc).