Cyprus license can be obtained by a company for gambling purposes.
It allows lotteries, betting exchanges, casino games, and sports bets.
In 2006, the first draft of the law on online gambling was presented to Parliament but it was rejected. In 2007, a new one was undertaken.
It provides strict regulations governing the license application.
The law is also based on the protection of minors against gambling on the Internet.
It also seeks to prevent Cypriot revenue losses.
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