The Cypriot government have voted to implement new betting tax system, which will see the country's horse racing authority and betting companies pay a 10 per cent tax on their gross profits. Previously, gamblers would pay 25 per cent on football bets, and 10 per cent on horse racing.

A statement from the government said that it hoped to curb losses from illegal betting through the new legislation, which is reported to be around £20 million per year.