NEW LOCATION

Olá Brazil Brazil NVMe-powered VPS Plans in Brazil Now Available.

Deploy Instantly
  • +357 2425 0808
  • Login
  • English

Home

Blog

Cyprus is reconsidering OPAP monopoly de...

Cyprus is reconsidering OPAP monopoly deal

Cyprus is reconsidering OPAP monopoly deal

NetShop ISP

NetShop ISP · Blog Author

Nov 30, 2016 · Archive

Earlier this year Cyprus took a decision to license the first casino resort. This has been now followed by preparing to block unauthorised online gambling sites as the Republic of Cyprus is getting ready to launch its regulated sports betting market.

At House finance committee’s meeting the National Betting Authority (EAS) stated that they are in the process of blocking some 2,500 unlicensed online gambling and betting sites offering services to national consumers. The sites to be blocked are not operating in the guidelines of the 2012 government’s legislation towards online poker, online casinos and sports betting which are currently forbidden in Cyprus.

Such actions are granted by the Cypriot Finance Committee. Last month the EAS started accepting license applications from online sports betting operators. The goal now is to create fair market conditions for those that have applied for licence and clear the operators that are not taking a part in the process, but offer their services to Cypriot gamblers.

At the same meeting the committee discussed and reviewed the current agreement with Greek lottery giant OPAP, which gives this betting firm a monopoly on lottery number games in Cyprus and also costs Cyprus €1 million a month in lost tax revenues, as MPs said.

OPAP has been operating in Cyprus since 1969. In 2003 the Republic renewed an interstate agreement with Greece agreeing that OPAP will pay €10 million a year in taxes to offer lottery services to players.

The new legislation being prepared will ask for a double yearly fixed contribution with an additional 24% tax on lottery gross profits.

Press Releases
79

Free VPS Trial

No Credit Card Required.

Recent Posts

Black Friday & Cyber Monday Offer – 30% Lifetime Discount on VPS Plans

Black Friday & Cyber Monday Offer – 30% Lifetime Discount on VPS Plans

02 December, 2024

How To Install Sendy on Ubuntu 22.04 Server

How To Install Sendy on Ubuntu 22.04 Server

27 November, 2024

How To Extract Certificates and Private Key from .PFX file

How To Extract Certificates and Private Key from .PFX file

19 November, 2024

NetShop ISP CEO Stefano Sordini to Moderate Key Panel on Forex AI Automation at Cyprus Fintech Summit 2024

NetShop ISP CEO Stefano Sordini to Moderate Key Panel on Forex AI Automation at Cyprus Fintech Summit 2024

15 November, 2024

Preparing for the Daylight Saving Time (DST) Change: Essential Updates for MetaTrader 4/5 Platforms

Preparing for the Daylight Saving Time (DST) Change: Essential Updates for MetaTrader 4/5 Platforms

25 October, 2024

#letushostyou

Award Winning Hosting Provider established in 2004.

120 Faneromenis Avenue, Imperial Tower, 2nd Floor, Larnaca 6031, Cyprus

Products

Bare Metal Servers

Customized Servers

Virtual / Cloud Servers

Forex VPS

Storage VPS

cPanel Web Hosting

Reseller Web Hosting

Colocation

Addons

Premium DNS

Email Hosting

Cloud Backup

DDoS Protection

Licenses

SSL Certificates

Domain Names

Premium SLAs

About Us

Data Center Locations

Looking Glass

Our Company

Contact Us

Careers in Cyprus

Become a Partner

Awards

Certifications

© 2024 S.S. NetShop Internet Services Ltd. All rights reserved.  Terms & Conditions  |  Privacy Policy
CY Reg. Number: HE 217340 | EU VAT Number: CY10217340J

Visa
Mastercard
PayPal
Bitcoin
Tether
Ethereum
Litecoin
Wise
Revolut
Wire Transfer