In a tightly contested vote, Cypriot MPs have approved a bill increasing the levy on licensed betting operators from 3% to 4.5% of net earnings.
The additional funds, aimed at supporting football clubs and their youth academies, will be managed by the Cyprus Sports Organisation (CSO) and distributed to the Cyprus Football Association (CFA).
The amended Betting Laws of 2019 and 2020 promise to benefit 97 football clubs across various leagues. However, the decision has drawn criticism, particularly over its failure to impose conditions on clubs to address their significant tax debts, estimated at over €32m ($33.5).
An Audit Office report highlighted that many clubs have failed to honor repayment plans, with new debts accumulating for 14 out of 19 indebted clubs.
