Online Casino Transfer: News - Push for Prohibition in Cyprus

07/31/2010		Online Casino Style: News Push for Prohibition in Cyprus
Home History Games News Dictionary		As beautiful as it is, some confusion is developing in Cyprus’ online gambling industry this week as reports are starting to claim that some of the island’s lawmakers are bent on prohibiting internet casino access, rather than working to more efficiently regulate the market. No one seems completely sure what might develop in the Mediterranean region, as while some of the politicians have spent months proclaiming that no compromise is possible, and that a complete ban was the only means by which they could protect their constituents, those same voices are now more amenable to finding a means to meet in the middle. According to a report by the Cyprus Mail, the entirety of the online gambling market in Cyprus is rather confusing as it is already home to multitudes of internet casino groups, despite the small nation’s unclear legal standing on the industry for its own residents. Technically speaking, online gambling falls under the jurisdiction of the general Betting Law of Cyprus, updated in 2007 to comply with the European Union’s demand for free trade of goods and services between member countries. However, recent alterations to the EU law now will allow member states to independently control or even ban internet gambling. The current government in Cyprus generally seems favorable to the market, probably because of the tax revenue that it generates for them. But unsurprisingly, there are opponents who if they cannot ban the practice outright, would settle for ISP blocking of certain internet casinos, or even instituting an UIGEA-style program to monitor transactions. “I hope we dont reach the end of the drafting process and suddenly find that policy has changed radically,” said Ionas Nicolaou, the chair for the House Legal Affairs Committee on the confusion.

07/31/2010

Online Casino Style: News
Push for Prohibition in Cyprus

As beautiful as it is, some confusion is developing in Cyprus’ online gambling industry this week as reports are starting to claim that some of the island’s lawmakers are bent on prohibiting internet casino access, rather than working to more efficiently regulate the market. No one seems completely sure what might develop in the Mediterranean region, as while some of the politicians have spent months proclaiming that no compromise is possible, and that a complete ban was the only means by which they could protect their constituents, those same voices are now more amenable to finding a means to meet in the middle.

According to a report by the Cyprus Mail, the entirety of the online gambling market in Cyprus is rather confusing as it is already home to multitudes of internet casino groups, despite the small nation’s unclear legal standing on the industry for its own residents. Technically speaking, online gambling falls under the jurisdiction of the general Betting Law of Cyprus, updated in 2007 to comply with the European Union’s demand for free trade of goods and services between member countries.

However, recent alterations to the EU law now will allow member states to independently control or even ban internet gambling. The current government in Cyprus generally seems favorable to the market, probably because of the tax revenue that it generates for them. But unsurprisingly, there are opponents who if they cannot ban the practice outright, would settle for ISP blocking of certain internet casinos, or even instituting an UIGEA-style program to monitor transactions. “I hope we dont reach the end of the drafting process and suddenly find that policy has changed radically,” said Ionas Nicolaou, the chair for the House Legal Affairs Committee on the confusion.