CYPRUS TO EXERCISE MORE CONTROL OF INTERNET
GAMBLING?
30 March 2007
Credit card study prompts government to examine
stronger controls
A study by credit card company JCC last year has
prompted Cyprus government officials to examine ways of
better controlling Internet gambling. The figure that
concerns the authorities is the GBP 28 million in bets
that JCC says Cypriots gambled over the Internet in
2006.
Complications could flow from Cyprus's membership of the
EU and its insistence on an open border between member
states for the free flow of trade and services, but the
Finance Ministry is in the process of preparing a bill
that would offer tighter control....and of course better
tax generation.
“The new bill aims to regulate Internet betting in a way
that, among others, ensures that taxes will be paid by
the betting company,” the Finance Ministry’s
spokeswoman, Lenia Orphanidou told deputies last week.
The JCC statistics were presented to the House
Institutions Committee last week but according to
Marinos Sizopoulos, a member of political party EDEK
(Movement of Social Democrats), the amount wagered on
online gambling could be as high as GBP1.5 billion, as
the JCC figures may not have taken into account the sums
of money that are recycled during betting.
Online Casino News courtesy of InfoPowa
More news here.
Top of page |
Home |
News |
Forum |
Webcast |
Vortran |
Accredited Casinos |
Evil Ones |
Pitch a Bitch |
Online Gambling Resources |
Poker
|