The government of Cyprus has unanimously approved new gaming legislation which regulates sports betting but prohibits online casino and poker, as well as Betfair-style betting exchanges.
The new law regulates sports betting, charging a tax on net betting revenues of 10 per cent. An additional 3 per cent of net betting revenues will also be charged, which will be distributed to a new gaming board yet to be established.
The board will then transfer the funds to [...]
