Cyprus legislates against Betfair

09/07/2012 | By More

The Cypriot government announced on Friday legislation that aims to restricts products that gambling operators can offer in the country. Product restrictions included processes that are “designed to facilitate the receipt or acceptance of bets between players”.

Betfair announced this morning that they intended to challenge the decision as “the company believes that the legislation contains serious flaws and, in certain areas, is inconsistent with European Union law. “

Betfair also announced that Cyprus “generated approximately 4% of revenue from Cyprus and this revenue made a contribution of approximately £9 million before allocation of central costs”. That surprised me as it was bigger than I suspected.

Tags: , ,

Category: Betfair, Industry news

About the Author ()

I left a good job in the consumer technology industry to go a trade on Betfair for a living way back in June 2000. I've been here ever since pushing very boundaries of what's possible on betting exchanges and loved every minute of it.

Comments are closed.

Hypersmash.com