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CYPRUS AUTHORITIES TURNING UP THE HEAT ON INTERNET GAMBLING
National Betting Authority reports that around 2,500 illegal gambling websites are currently being ISP-blocked.
The authorities in Cyprus are tightening online gambling counter measures; a parliamentary finance committee was assured this week by the National Betting Authority, which reported to lawmakers that it is in the process of ISP-blocking some 2,500 websites offering illegal online gambling to Cypriots.
Monday's hearing of the House committee focused on a series of bills on betting and games of chance, the newspaper Cyprus Mail reports, with legislators discussing the review of the interstate agreement with Greece which gives betting group OPAP a monopoly on lottery number games in Cyprus.
The Cyprus auditor-general claims that the government loses just under Euro 1 million a month under the current agreement, through which OPAP pays Euro 10 million in Cyprus taxation; the AG claims that the island state is losing out on potential additional tax revenues of Euro 10 million a year, which would be possible if it withdrew from the agreement with Greece.
In May 2014, Cyprus moved to withdraw from the agreement, requesting a year to prepare legislation regulating the lottery market. However, the Cypriots subsequently reversed this decision and scrapped the draft legislation, but are apparently now reconsidering the government position.
New draft legislation has been drawn up and presented to the House, providing for exclusive rights to be granted to a single provider to operate specific ‘lottery games’ in Cyprus for a specific period of time and under clearly defined conditions.
The successful applicant for this license would pay the Cyprus government 24 percent tax on gross profits or Euro 20 million a year, whichever is the greater (the current tax levied on OPAP in Greece is 30 percent).
The National Betting Authority also briefed MPs on progress toward a regulated and licensed online sports betting regime, reporting that last month it began accepting license applications and has warned unlicensed and illegal operators that they will be blacklisted and blocked if they continue to provide services to Cypriot online sports punters.
Gambling News :
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EHF and Sportradar Extend Partnership -
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Swisslos and Betradar in Deal -
Swisslos offers lotteries, sport bets and instant tickets in the entire territory of German-speaking Switzerland, in Ticino and in the Principality of Liechtenstein. It structures its range of games in an attractive and responsible manner. Swisslos transfers it entire net profit to the mandating cantons and the Principality of Liechtenstein to support public causes.
Americas Cardroom offering mouth-watering value -
It's not every day that an industry-leading poker site offers its customers an opportunity to put the house's money directly into their own pockets, but that's exactly whatís happening at Americas Cardroom.
Coolbet Joins Mpn -
Coolbet, owned by the Estonian company StayCool OU, is a sportsbook driven brand with its own developed platform and sports software. In addition to sports, it offers casino and live casino gaming, and as of this week, poker.
RMG AND SIS EXTEND PARTNERSHIP -
RMG manages the rights of many of the leading British racecourses, while SIS holds the horseracing rights to all Irish racecourses, plus Chelmsford City Racecourse in the UK.
Novomatic and Betradar in Deal -
With ICE just a few days away, NOVOMATIC has announced a partnership with leading sports betting solutions provider Sportradar to develop an innovative line of sports betting products and services.
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