Online gambling proceeds in Cyprus hit $3.4 billion in 2008, and proceeds are projected to more than double by 2012. Cyprus and Malta provide hosting for online gambling services in the European Union. "Ninety-five percent of electronic gambling services in our country operate legally because they are provided over the Internet and there is no authority [here] where one can apply for a permit," said Ionas Nicolaou, chairman of the House Legal Affairs Committee.

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Cyprus Mail

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