Cyprus welcome gambling proposals
Two of the biggest sport betting companies in Cyprus have come out in favour of a proposal for a new law governing gambling. The law, which is currently being drafted, will see tax reduced or abolished, the opening up of the market, allowing other operators to stage races, and foreign bets allowed. 
Loukis Ioannou of Megabet yesterday told the Cyprus Mail, this legislation should have already been introduced. Its good for the market and in my opinion, the main aim is to stop illegal betting, which is the biggest problem in our industry.