Cyprus’ Online Gambling Draft Questioned

After Spain and the Netherlands presented their online gambling legislation to political officials in their respective governments, both countries had their bills criticized by gambling authorities. Now, Cyprus, the next country in line to change its online gambling law, is having its own online gambling legislation scrutinized.

While Spain and Holland are looking to open up their online gambling markets to foreign online casino operators, Cyprus is taking the opposite approach. A loophole in the country’s current gambling laws allows for companies based in other EU member states to offer their online gambling services to residents of the country – and the Cypriot government wants to stop this from happening.

The laws that attempt to close this loop hole has been met with several obstacles at all levels of the legislation process. According to eGaming Review, Cyprus has no right to restrict EU operators from offering their services to players in the country. The European Union requires all member states to take part in free trade. Even when it comes to digital media, members of the European Union must open their borders to their peers.

Cyprus has tried to reason with the powers that be, stating that the measures would protect against fraud and other types of common online crimes. However, companies licensed in the EU are subject to close monitoring protocols, making them the safest online locations. It is believed that Cyprus is simply trying to enact a monopoly, which is against EU regulations.

 

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