Those legislating in Cyprus to implement some kind of online gambling regulation will be waiting a little longer as the EU has told them that it needs to be changed to fit in with their regulations. The Cypriots are pretty sure evil has been at work though – if you count two European countries as being in cahoots with the devil.
Democratic Rally deputy Ionas Nicolaou speaking to Cyprus Mail after the EU ruling, said: “The interventions and comments by Malta and the United Kingdom were made purposely as online gaming is licensed in both countries and they receive huge amounts of money for those licenses.”
Cyprus is attempting to ban all online poker, casinos, and slot machines whilst regulating sports book betting for the people of the island. Currently a loop hole in the law allows those wanting to gamble to use companies based in other countries, thus Cyprus are losing out on a large amount of tax as a result of this.
Earlier this year Cyprus had stated the online gambling regulation was being adopted in part to prevent the widespread organised crime syndicates running illegal sites, but by only allowing sports book betting they’re surely still going to be seeing widespread crime
As far as the EU is concerned, they’re concerned about why the number of licensees is so limited, and they want clarification on how customers will be paying to gamble. In addition they also want some explanation on why it seems like certain providers are being discriminated against, according to Nicolaou
The President, in his manifesto, promised to stamp out electronic gambling as it was “a vice threatening the moral fabric of society.” All signs pointing to this bill going through, and it’s hard to see how much of an effect the UK and Malta have actually had on the bill. Just sounds like sour grapes to me.
