Bait N Bank

What is Bait N Bank?

Promotional spending is nice and has proven to be an effective customer acquisition tool, but both sportsbooks and prediction markets would do well to emphasize bespoke experiences for clients because they’re looking for customization.

“Twelve percent of respondents have switched platforms because another offered personalization aligned with their interests, while 9% said recommendations based on their interests would make them more likely to try a prediction market,” concludes Fullstory.

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What is Bait N Bank?

The DSWV, representing licensed sports-betting operators, broadly welcomed the law enforcement action as a necessary response to the illegal market’s growth and associated risks. 

“This successful investigation clearly demonstrates the scale that the illegal gambling market has now reached,” said Mathias Dahms, president of the DSWV.

Dahms highlighted the significant dangers unlicensed operators pose to player protection and the overall integrity of the licensed market. He cited the absence of controls such as deposit limits, identity verification and player suspension tools. 

What is Bait N Bank?

Anyone residing in Cyprus, with income not high enough to support their basic needs, is eligible for the benefit.

Cyprus is not the first market to consider whether to block its welfare recipients from using their benefits to gamble, Brazil introduced a similar ban in 2025.

During a session of the House Audit Committee last Thursday, members of parliament (MPs), the Data Protection Commissioner and representatives from the Welfare Benefits Administration Service (WBAS), the Gaming & Casino Supervision Commission and the National Betting Authority (NBA) convened to discuss ways to identify and restrict gambling activity among GMI beneficiaries, as reported by Cyprus Mail.