Betting authority launches ‘Professional Skills Academy’

The National Betting Authority (NBA) has launched the “Professional Skills Academy”, aiming to establish Cyprus as a fair and safe hub that fosters the betting sector’s development and innovation, with a primary focus on player protection. As part of its vision, the NBA is dedicated to building expertise in the betting sector and increasing the industry’s workforce, facilitating easier recruitment for companies directly or indirectly involved in the sector. By doing so, the Authority reinforces its leading role in the sector’s sustainable development through regulation and supervision, emphasising societal protection and the reduction of illegal activities.

The main goals of the Academy are:

• Educating and enhancing the skills and knowledge of all stakeholders in the gambling sector
• Increasing expertise to mitigate potential money-laundering and terrorist financing risks, ensuring compliance with relevant laws and regulations
• Promoting voluntary compliance with the regulatory framework
• Enhancing the protection of players and society as a whole
• Utilising and promoting international best practices

“With the operation of the Academy, we are fulfilling one of the Authority’s key strategic goals,” noted National Betting Authority chief Ioanna Fiakkou in a statement.

“This initiative reflects our commitment to developing and improving the skills of employees currently working or aspiring to work in the gambling sector. We aim to strengthen expertise, ensure increased compliance with the normative and regulatory framework, and increase the number of specialised individuals.

“This will make Cyprus an attractive destination for investments in the gambling sector and related services, such as the headquartering of international companies, leveraging other national advantages. We anticipate that the Academy will yield both short-term and long-term benefits for entrepreneurship and society at large.”

The Academy’s operation

The Academy commenced operations on July 17, 2024, offering three levels of educational programmes: Beginner, Intermediate, and Advanced, available in-person, via distance learning (live or recorded sessions), or a combination of both. The Academy will provide training on subjects such as Customer Support & Interaction, Anti-Money Laundering (AML) and Safe Gambling, Complaints & Conflict Resolution, and Marketing and Advertising. The curricula will be regularly updated, with additional subject areas introduced over time.

The University of Nicosia (UNIC) is the implementing body of the Academy, with UNIC Director of Development Nicolas Kythreotis hailing the project as an “innovative and groundbreaking”. He congratulated the NBA for launching the Professional Skills Academy, and hailed the efforts of all parties involved. “This project was a challenge for the Faculty Training and Development Unit of the University of Nicosia and IMR. We worked hard for its completion and hope it has a long and productive future ahead,” he added.

More information on the Academy can be found at www.psacademy.cy

The National Betting Authority is a legal person governed by the Betting Law of 2019. Its main responsibility is the licensing and supervision of betting activity conducted within the Republic of Cyprus. Moreover, the Authority is responsible for collaborating and discussing with stakeholders, government bodies, and international organisations on issues related to betting activity. It is also responsible for implementing preventive measures to protect young people and vulnerable groups of the population from developing an addiction to gambling. More information can be found on the website www.nba.gov.cy.