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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 :
$400k Winner at Bodog Casino -
To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.
NBA : Warriors Win the West; NBA Finals Next -
The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
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