Cyprus Online Gambling Legislation Delayed
Wednesday, December 22th, 2010 - Tammy F.
Cyprus has recently made its plans to regulate online gambling public but, as is the case with all online gambling legislations, a few obstacles have gotten in the way. Whereas a decision on the legislation was previously expected for the end of December, Cyprus now has to wait until March 2011 before the country gets any feedback from the European Commission.
Currently, there are no land-based casinos in Cyprus, but online operators have found a way to launch and offer their online gambling services to players in the country. The government believes that the industry encourages increases in the crime rate, and has decided to regulate the activity in hopes that it will cause a decrease in crime.
The new legislation would require the creation of a licensing authority that would regulate online sportsbetting in the country. While this is useful for keeping the industry in control, the European Commission is skeptical that Cyprus may be seeking to enact an online gambling monopoly.
As the situation becomes increasingly complex, the European Commission has decided to delay its decision on the country’s online gambling legislation. Currently, many countries across the EU are drafting gambling bills and the commission will need time to go through them all.
You must be over 18 years of age to register and to place a bet. The company reserves the right to ask for proof of age from any customer and customer accounts may be suspended until satisfactory proof of age is provided.
St Minver Limited is licensed by the Gibraltar Licensing Authority and regulated by the Gibraltar Regulatory Authority under the 'Gambling Act 2005'.