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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.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
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