Cyprus Cabinet Approves Draft Bill Banning Online Gambling

Written by:
Guest
Published on:
Mar/09/2011
Cyprus

The Associated Press (CP) – NICOSIA, Cyprus — The Cyprus cabinet has approved a draft bill banning all online gambling.

Deputy government spokesman Christos Christofides said on Tuesday that the bill — which still needs legislative approval — will eliminate unclear provisions under the existing law which have turned a mushrooming online gambling business on the island into "a social wound."

Under the draft law, online games including poker, roulette and slot machines will be banned. Lotteries and sports betting will be permitted to those 18-years old and over. Lawful establishments will be taxed 3 per cent on their revenue instead of the current 10 per cent on profits to discourage cheating.

Convicted law breakers could face a a fine of up to euro €170,000 ($236,260) or a five year prison term or both.

Gambling News

BingoSpirit.com Review l Complaints l Online Bingo From the US

BingoSpirit.com Review l Complaints l Online Bingo From the US

BingoSpirit.com is an online Bingo site licensed in Curacao that welcomes players from the United States and around the world.

GalaBingo.com Review l Complaints l Online Bingo From New Zealand, Netherlands

GalaBingo.com Review l Complaints l Online Bingo From New Zealand, Netherlands

GalaBingo.com is an online bingo site that also offers roulette, scratch cards, and video poker.  It is available to those in the United Kingdom, Ireland, Netherlands, New Zealand and another dozen nations.

How to Run an In-Play Sportsbook the Right Way

How to Run an In-Play Sportsbook the Right Way

In their "must read" book "The Logic of Sports Betting", Ed Miller and Matthew Davidow discuss the pitfalls of offering live in-play wagering, which now accounts for more than half of the betting activity at some offshore sportsbooks.

It's Official: Sports Betting Now Legal in Tennessee, Bookies Sweating the Blues

It's Official: Sports Betting Now Legal in Tennessee, Bookies Sweating the Blues

Check this off under "Knew it all along".  Tennessee officially legalized sports betting on Friday (May 24, 2019).

Tiger Drops the F Bomb After Being Asked About $85K Bet Made on Him to Win Masters

Tiger Woods dropped the F Bomb after being asked how he felt about someone wagering $85K on him to win the Masters.

Syndicate