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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
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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