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CYPRUS BAN ON INTERNET GAMBLING MOVES CLOSER
Wednesday July 4, 2012 : CYPRUS BAN ON INTERNET GAMBLING MOVES CLOSER
Agreement on tax proposals could herald a vote this week
The long-running political fight over gambling law changes in Cyprus could be nearing an end, although it carries with it a complete ban on internet gambling and betting exchanges.
The Cyprus Mail reports that lawmakers appear to have settled on a 10 percent revenue tax on operators, opening the way for a parliamentary vote later this week.
Speaking after a joint session of the House Finance and Legal Affairs committees, MP Ionas Nicolaou told the newspaper that lawmakers has at last agreed on the formula for taxation.
This would involve betting companies paying a 10 percent tax on total amounts wagered minus winnings paid to gamblers. In addition, operators will pay a contribution of 3 percent of revenues for the implementation of a Gambling Board, through which funds will be channelled to the Cyprus Sports Federation.
The Federation will in turn distribute the funds to the Cyprus Football Association (1.5 percent); special problem gambling programs (1 percent) and other sporting bodies (0.5 percent).
Late breaking news Tuesday was that some politicians are still lobbying for betting exchanges to be allowed, albeit confined to wagers on foreign football games. This may require further discussion Wednesday.
Gambling News :
US$30M DUBAI WORLD CUP -
Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines
NHL Odds: Forsberg Faces Elliott in Nashville -
The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.
NBA Odds: Hawks, Wiz in Southeast Showdown -
The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.
NBA Odds: Clippers Try to Slow Down Bucks in LA -
Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.
NHL Odds: Canadiens Welcome Islanders Tonight -
The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.
NHL Odds: Reeling Flyers Seek Relief in Pittsburgh -
#nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.
Dollars to Donuts Slot Launch -
Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.
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