Monthly Archives: November 2010

Online Casino Games

Online Casino Games

Lawmakers in Cyprus have sent a bill proposing to prohibit all forms of online sports books Paris, except in the European Commission for consideration. Under EU law, which prohibits restrictions …

Lawmakers in Cyprus have sent a bill proposing to prohibit all forms of online sports books Paris, except in the European Commission for consideration. Under EU law, which prohibits restrictions on trade in services between EU countries, the government of Cyprus is obliged to ask the European Commission for an exemption pursuant to ban gambling online -National.

Legislature is to use logic similar to the Portuguese request to prohibit the success of 2009. In this case, which had tried to European Court of Justice, the Portuguese government has defended charges that the objective has been made online gambling legislation has created a state monopoly. Instead, he argued that the regulation would help to fight crime and fraud operators.

According to the Attorney General of Cyprus, Petros Clerides, the prohibition of roulette, slots and poker is the “public interest” to fight crime and protect consumers, “he said. Clerides also referred to the Court found in favor of the Portuguese in 2009 as proof of its correct. Although the proposed law to ban online buying valtrex casino games like roulette and slots, which allows Internet gambling licensing and power outlets.

Other principles are:

The creation of a Gaming Board, which regulates all online games in Cyprus.
Issuing licenses to operators who pay taxes based on government revenues, profits.
A ban on gambling and the exclusive use of credit cards and electronic wallets, the operations are easier to monitor and tax.
Players left to legislators the bank guarantee in order to get useful.
Closure of establishments which do not pay taxes on time.
In 2004, the Cypriot Ministry of Finance hired a team of international consultants to draw up a law to regulate online gambling. When suspicions arose that the authors were detrimental to their interests, the project was abandoned.

In March 2009, Finance Minister Harilaos STAVRAKIS believes the economy of Cyprus has suffered an annual loss of 2.5 million Euros as a result of illegal land casinos and online. Lawmakers in Cyprus believe that the European Commission to give a verdict before the end of the year.