Cyprus bans online poker

09 July 2012

Cypriot goverment has officially approved the legislation that allows the regulation of fixed odds betting in the island, however bans all other forms of online gambling, such as Online casino, Online Poker, and exchange betting...

The new tax system imposes a 10% tax on sportsbook revenues minus winnings, and operators are required to pay an extra 3% on gross revenues to the regulatory body that will redistribute 1.5% for the Cyprus football association, 1% to gambling addiction charities, and 0.5% to other sporting associations.

While it’s still not clear how the government plans to enforce the regulation, Yinnakis Omirou is reported to have called the relevant island authorities to act quickly and block illegal operators in the country.


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