Worldwide

Français

Cyprus Begins Battle Against Online Casino Gambling

The June 14, 2023, By Takato Sugihara

As the House of Representatives in Cyprus continues to prepare the legal and judicial framework for combating illegal online gambling by banning all forms of online gambling altogether, more and more voices are heard in favor of not banning online casinos, but regulating them.

o far, the debate seems to center on ideological grounds, with President Demetris Christofias and the government party asserting that only an outright ban is the single most effective way of combating illegal online casino gambling. On the other side, some argue that most types of gambling, when made illegal, simply carry on in the so called gray economy. Hence, the preferred way of dealing with the problem is not pushing it deeper out of the eye, but to regulate what is already present.

AS the House of Representatives continues to prepare the legal framework for combating illegal online gambling by banning online gambling altogether, more establishment voices are being raised in favor of allowing casinos to operate legally on the island. This would allow collection of much needed taxes and licensing fees. Another advantage is that a legal private gambling industry would reduce unemployment.

“The biggest problem we see every day is that no matter where you go in the world, where there is no legal gambling, there is a ton of illegal online casino gambling”, Techlink Entertainment Ltd President and CEO John Xidos told the Sunday Mail.

“The two big issues for everyone today are that government needs to have full control in order to eliminate corruption, and the players need to have full control in order to control their online casino gambling expenditure”, he said.

 Follow us on Twitter

All the online casino news