Cyrpus approves Internet gambling ban

[The Buzz]

According to numerous media reports, the small island country of Cyprus has approved a ban on Internet gambling. A spokesman for the government said the growing online gambling business in the country was a "social wound."

From Card Player:

Persons or companies found guilty of breaching the incoming law will be libel for a fine of up to €170,000 and/or five years in jail.

[ironman2000]

WOW....................this is really breaking news with so many companies working from out of the country!!!!!

Keith

[EugeneK]

they are crazy. a lot of companies will shut down their activities. idiots

[davenewgates]

I don't know with you but i admire them for being so strict in regards to gambling, maybe others will say its a lose for them but i see they are just protecting their country of the negatives effect of internet gambling.

[EugeneK]

I don't know with you but i admire them for being so strict in regards to gambling, maybe others will say its a lose for them but i see they are just protecting their country of the negatives effect of internet gambling.

it is very strange to hear such words from casino affiliate

it is simple - you can't deny cigarettes, drugs, alcohol, prostitution, gambling, .....
if you can't deny then you should allow and control that strictly

[rak]

That is interesting, considering that Cyprus is part of the EU, and it has licensed many companies and companies also operate out of Cyprus. These companies take bets from other EU countries, but not vice versa.

Although I could see how it would make sense that Cypriot companies cannot take bets from Cypriots.

The same law applies in Australia. Australian online casinos cannot take bets from Australians.

[Chips]

Welcome home Rakesh, long time no see!

/derail

[Gutterbrainbeats]

It's not over yet, I would suggest to wait a bit more... The fat lady ain't on stage yet!

[JoeAdams]

Maybe their economy no longer need those gambling companies to generate an additional revenues for their government.. or could be that they just didn't realize how great can revenues from those gambling companies can benefit their country and how many jobs can it provide to their residents.

[Gutterbrainbeats]

JOEADAMS, it was more or less a huge rise in crimes in the outskirts of the big cities.
Foreign firms will continue to operate in Cyprus, but not supply services that are banned in the bill.

The bill is sent to the European Commission for approval and I pretty much doubt that the EC will give the green light for the Cypriot Government to proceed to these changes.

Right now, various online Gaming operators are alleging that the new bill favours big time OPAP, the private Greek gaming company which operates in Cyprus through its local counterpart (OPAP Cyprus). OPAP is also 'responsible' for the Greek Gaming monopoly.

[rak]

Welcome home Rakesh, long time no see!

/derail

hey thanks! great to be back!

[rodicpetarson]

Since then, officials have to work hard to achieve, but many remain uncertain about how effective efforts will be. Potential obstacle to a proposed legal changes including the European Union over internet gambling in the country in drive "incompatibility" as the can.

[wagerjunction]

I believe that companies will not neccessarily close down their offices and move away, they might just ban Cypriots from their licensed casinos. I think Playtech does that, they have offices in the island but they don't allow Cypriots to register in casinos.

Gambling was never legal in Cyprus, from what I've read they dont even have land-based casinos. Northern Cyprus does (the part occupied by Turkey). Again, not sure, never been there.

[best.hands]

Be that as it may, there must have been good reasons why Cyprus approves the ban, if not, it would appear otherwise. It is just a matter of weighing the consequences. Nobody is foolish enough to situate themselves on the side where there's more negatives than positives.

[Gabriel_LCP]

I really don't think they will go ahead with banning this! The income the country receives from this is probably a pretty big amount, I say they'll reconsider

[cassy]

"The government cabinet has approved a draft bill banning online gaming including poker. "

It is still not approved, only a draft bill for banning online gambling. Cyprus affiliates or should I say casino company owners should oppose this bill for their business will be hardly affected. It is a funny thought that some states are working hard to legalize online gambling on their places but there are only few which want it to be banned after taking a revenue. Well, maybe because those illegal sites are taking advantage of the legalization of online gambling within the states, that is why they want to end it up.

[grem]

does Cyprus really have a problem with online gambling?

[cassy]

hi grem!

"Deputy government spokesman Christos Christofides said the growing online gambling business on the island was a “social wound”
the ban has been in the pipeline since last year."

Maybe there was. They wouldn't pursue ban against online gambling if they do not see any wrong movement within the business.

[Gutterbrainbeats]

Guys, there was crime going on, but all in all the core reason was that the inland casinos were losing customers because of the rapid growing online businees. People, instead of gambling in the casinos, were heading to local internet cafes' or to their laptops. Inland casinos are powerful, their influence is truly big and that's the reason behind it.

[Playborne]

despite of economics and all the turnover of the online casino providers, i think it was realy very hard for government to control this industry at the same time with land based casinos, but there is no doubt about that it is realy wrong step for country economics and budget