New Amendments Concerning The Trading And Gambling - Online Magazine Cyprus Inform
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29 Nov 2016
New amendments concerning the trading and gambling

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Due to the fact that online casinos are prohibited on the island, in the near future around 2500 betting websites will be blocked. In accordance with the new legislation, the domains, which did not get the license, will be deleted.

Moreover, the exclusive rights to control gambling activities will be granted to a single provider. The monopoly will approved for a fixed period of time and provided that the conditions have been fulfilled. The provider will be obliged to pay to the government 24% out of the profits or 20 million Euros.