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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.
New Racing UK free-to-watch show -
Wake up to Luck on Sunday – join Nick Luck and guests for new Racing UK free-to-watch show. BHA Chief Executive Nick Rust to appear on first broadcast this Sunday
MLB Odds: Stroman Gets the Nod Against Royals -
The Toronto Blue Jays (70-80, –20.18 betting units) begin their final home stand of the 2017 campaign this Tuesday when they welcome the Kansas City Royals (73-76, +2.56 units) to Rogers Centre. Sportsnet has the coverage at 7:07 p.m. Eastern.
Microgaming QuickFire enters Coloumbia -
Wplay signs for Quickfire; strategic deal sees Quickfire enter Colombian market. Colombian-licensee Wplay has signed a deal for Quickfire, powered by Microgaming.
Partypoker to sponsor WSOPC Uruguay -
Partypoker to sponsor WSOPC Uruguay in December. Qualify exclusively on partypoker for WSOP Uruguay Main Event. December 7th to 17th in beautiful Punta del Este.
MLB Odds: Jays Hope to Spoil Orioles’ Visit -
The 2017 season is just about over for the Toronto Blue Jays (66-77, –21.19 betting units), but they can play spoiler in Tuesday’s game against the visiting Baltimore Orioles, starting at 7:07 PM ET on Sportsnet.
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Big Online SLot Win on Ultimate 10X Slot -
At 9.20PM on August 28th, Kasey R was enjoying the new Ultimate 10X three-reel slot at Miami Club. The game has a random 'must win' progressive jackpot that is guaranteed to pay by the time it reaches $25,000
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