The contacts between the Finance Ministry and all the parties involved in the submission of the new bill on the collective horse racing betting have reached their final stages. Via the amendments that will be proposed, the legislation on collective horse racing betting and electronic betting will be improved. Speaking to StockWatch, Finance Ministry General Manager, Christos Patsalides said that the Ministry is in contacts with OPAP and the Horse Racing Club. “At first sight, it seems that both parties agree with the Finance Ministry’s amendments. Talks will continue for the next fifteen days. The bill will be submitted to the Council of Ministers and will be subject to the Parliament’s approval at a later stage”, he noted.

The first bill submitted on February 6 aroused strong feelings to all. The Horse Racing Club demanded that the legalization of betting on foreign horse races must not be legalized, while OPAP insisted that the former bill abolished the state agreement between Cyprus and Greece. With the new bill, the government aims to eliminate illegal betting.