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Cyprus To Offer betting Licenses
CYPRUS BETTING LICENSES AVAILABLE NEXT MONTH
October 3 date set for first applications.
The Cyprus National Betting Authority has announced that online sports betting licenses will be available to suitable applicants with effect from October 3rd this year.
This positive development for the industry is however somewhat clouded by the tough tax and licensing fees set for successful applicants:
* On application, operators must have Euro 500,000 in paid up capital, and produce bank guarantees of Euro 550,000;
* Theres a Euro 30,000 licensing fee for a one-year licence, discounted to Euro 45,000 for a two-year licence;
* Tax based on GGR of 10 percent p.a.
* Regulators fee of 3 percent of GGR.
The good news is that the regulator does not demand that operators base themselves in Cyprus, although they will be required to have a mirror server on the island to enable the regulator (and presumably the taxman) to keep an eye on things in real time. Operators must also use a local domain extension.
Operators are expected to respect international bans by conducting their own compliance checks on where they may access markets
$75K Win on Mobile Slot @ CafeCasino -
Café Casino’s mobile slot, Achilles, paid out in a big way over the weekend. A player from Pennsylvania, Rob J., triggered the game’s free spins mode by landing three scatters.
2017 Punta Cana Poker Classic Results -
The 2017 Punta Cana Poker Classic is now in the books and players are returning home after a week-long poker celebration. And after a major final table deal, two players have the most reason to celebrate. Roberto Carvallo ultimately won the tournament after negotiating a final table deal with Jamin Stokes.
NHL Odds: Winnipeg Jets vs. Minnesota Wild -
Blake Wheeler and the Winnipeg Jets will attempt to get two points closer to the Central Division lead on Tuesday, as they take on the Minnesota Wild on the road. The Jets have started strong, and sit in second place in their division. Led by RW Blake Wheeler, the Jets look like a team that could make some noise in the West this season.
Historic weekend at Americas CardRoom -
ACR ran two $1,000,000 guaranteed tournaments last Sunday for the first time in their history; a $2,100 high roller for the BOSS Main Event and a $540 buy-in Million Dollar Sunday. They were both on the last day of the $14 Million OSS Cub3d.
WPN Affiliates Headed to Berlin Affiliate Conference -
With the Berlin Affiliate Conference just over a week away, WPN Affiliates is making a bold statement. The online poker affiliate network announced that they are eager to buy traffic and ready to make deals with affiliates looking to capitalize on some big innovations.
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