The House of Representatives in Cyprus decided to lower the betting tax from 25% on all football bets and 10% on horse racing to a flat 10% rate on the net income.
The suggestion came from the Ministry of Finance that was worried on the rising of the illeagal betting systems available in the country.
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Cyprus lowers betting tax
PartyBets - alliance with Sporting Index on horse race betting
The PartyGaming, leading global online betting, has launched its platform PartyBets.com a full service betting at fixed on horse races through an alliance with Sporting Index. The new service provides a comprehensive coverage of services for all races taking place in Great Britain and Ireland and the major international races, including bets to share initial […]
Partygaming presents its 2007 third quarter revenues
Partygaming, owner of the PartyPartners Affiliate Programme released its Q3financial results, that show and increase with 24 % from the same period last year. This mounts up to 115.7million USD, thanks to a huge rise by their Casino business (promoted under the brand PartyCasino) that rose with 158 % and sports betting activities ( […]
Unibet Chief Executive Peter Nylande arrested in Holland
Mr. Peter Nyland, the director of the Swedish online betting firm Unibet, was arrested on the Amsterdam airport, when he was trying to fly to UK.
The Dutch authorites have claimed that they have a warrant from the French authorities that have accussed Mr. Nylande of breaking French laws that prohibit online gambling. This […]
Bwin and Betbull will start Madrid betting shop
After bwin impressive four-year $70 million shirt sponsorship deal with the famous Real Madrid Football Club, the company decided to take advantage of the brand development in Spain and, in partnership with Betbull, will start its first shops in the first quarter of 2008.
The duo bettinmg companies takes advantage of the new lax regulation from […]
Italy changes its online betting rules - again
The Italian Authority for State Monopolies (Amministrazione autonoma dei Monopoli di Stato) has announced that it might change again the regulatory framework for remote gambling and to allow credit cards usage on in the Italian licensed website.
The new laws could be introduced in 2008 and wants to stop money laundring activities.
It remains […]
Unibet creates problems for the French and Belgium authorities in cycling events
The ban of the unibet.com cycling team in some competitions is Italy, Belgium and Spain because the had the main sponsor an online betting company in Malta the triggered the European Commission anger that thretaned these countries with legal actions.
“The Commission understands that the Green Cycle Associates cycling team, a Swedish company, has been refused […]
It is not technically possible to ban Internet sports betting
This is what a Bavarian court ( from Munich) has ruled in the lawsuit between the Bavarian Authorities and Bwin.
According to Forbes the court said that
“It is technically impossible to exclude only gamblers residing in Bavaria from using the company’s online offers. The Bavarian statedid not show a single comprehensible and convincing […]
Redbet gets a strong position in the betting market in Lithuania
The Swedish online betting exchange, casino and poker operator Redbet Holding has announced last week the purchase of 98% of purchase a 98 per cent of Teletoto Ltd, the only state licensed National Gaming License for both retail bookmaking and online gaming in Lithuania.
Teletoto that has 20 betting shops and plans to go into online […]
Sports betting might be liberalized in Germany
According with insiders, good news could come up for sports betting from the last meeting in Stuttgart between budget and financial speakers of the Christian Democratic Union and the Christian Social Union. It seems that an agreement was reached to abolish the state monopoly on sports betting, but to allow the national lottery to continue […]