Gambling ban in Cyprus, OPAP deal renegotiation

29 Nov 2016

20130807204427opap_cyprusThe gambling stage is becoming every day more and more strict in the Republic of Cyprus and in general is about to change in many ways. According to sources the Cypriot government, the past few days the process of blocking of an estimated number of 2.500 unauthorized websites has begun, while the Cypriots are also on the final stages of the new regulated sports betting market launching. The government will be absolute in this deals and since October they have begun accepting applications for sports betting licenses.

On the other had, at the backstage it seems that OPAP and the Cypriot authorities are trying to renegotiate their business affair, since everything is about to change. And the reason for that is that under the terms of the existing deal, the Cypriot government has been losing 1 million euros per month. We should not forget that OPAP had the monopoly at Cyprus since 2012, while they have been operating in the country since 1963. What is going to be discussed, is a legislature that would make OPAP pay taxes at the rate of 24% on gross profit, but the minimum payment from the Greek operator would be an amount of 20 million euros.

Join and grab exclusive bonuses, daily offers and free bets!

Lay hands on exclusive daily bonuses for members only. These promos are limited and are not advertised on the website.

Yes, I have read the Terms & Conditions and I consent to receiving emails from Bookmakers.bet regarding betting promotions, betting guides and news.

BOOK SPY

After a week off due to national team fixtures the English Premier League returns to action, and what a better way to do start matchday 9 than with th...

Read more »

Gambling can be traced in Germany all the way back to Roman times when soldiers were playing several forms of dice games. At some point after the intr...

Read more »

The UK Gambling Commission fined online betting operator Betway £408,915 for marketing on the kids’ section of the West Ham United Football Club...

Read more »

The 2021 report from the Malta Gaming Authority (MGA) has been released. The MGA generally took less regulatory actions, such as issuing fewer warning...

Read more »

The 2022 European Cricket Championships, held in Malaga, Spain, now have Stake.com as an official partner. The T10 competition, in which 21 national t...

Read more »

Just one week after an impressive 49-goal matchday 1, UEFA Champions League action is back. Among all the exciting events, the one that stands out the...

Read more »

LeoVegas Group, the renowned igaming operator, disclosed on Thursday that English Premier League giants Manchester City is the subject of a new partne...

Read more »

The moment football fans worldwide have been waiting for has finally come. The 2022-23 UEFA Champions League season is officially underway with 8 matc...

Read more »

After expanding into Colorado, their second active US state so far, Bet365‘s presence in the North American market has grown. Bettors in the Cen...

Read more »

The 2022 summer transfer window ends on the night of September 1st. As the deadline day is rapidly coming close, top European clubs are looking to sea...

Read more »

LATEST BOOKMAKER PROMOTIONS