The End Is Near For Online Gambling In Cyprus

Cyprus, a one-time hot spot for online gambling businesses, is close to banning the industry.

From the Cyprus Mail:

MOST likely by next month the government will know whether a bill aiming to ban online gambling altogether will get the nod from the European Commission, Attorney-general Petros Clerides said yesterday.

If the Commission’s answer is positive, parliament would pass the law without further delay, he said. “I think we can expect the Commission to get back to us in December,” Clerides told newsmen.

While the bill outlaws such online gambling as slots and roulette, sports betting would still be permitted as part of the measure.

A regulatory body would be set up and taxes collected as well.

“We need to convince the European Commission that the ban is in the public interest and that it adheres to the principle of proportionality, as under the EU acquis you cannot, except under certain circumstances, prohibit the provision of services from one EU member state to another.

“We also argue that the ban is intended to combat criminality and to protect the consumer. I think we will be persuasive,” Clerides said.

- Aaron Goldstein, Gambling911.com