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Tired of getting arrested for illegally running an online casino? Tired of fleeing from the law because you’re offering casino games in a country where there’s an online gambling ban? Well, have I got the place for you!
More and more online casino operators are using the tiny Mediterranean island of Cyprus as a base to run their operations. Not only are there no laws against doing so for online casinos, these babies are expected to produce almost seven billion dollars internationally in 2010. (All together now, Dr. Evil-style: SEVEN BILLION DOLLARS!)
At the moment, even though old-fashioned brick and mortar casinos are illegal, Cyprus doesn’t have any kind of institutions to oversee the operation of online casino games. However, lawmakers are starting to worry about the well-being of their citizens. “The main aim is to protect Cypriot society,” claimed lawmaker Aristofanis Georgiou.
As a citizen of the world whose well-being is quite healthy, I have to ask: why??? Your people live on a freaking MEDITERRANEAN ISLAND! What problems could they possibly have? Too many gorgeous sunny days? For the love of beaches, let your people gamble!
Apparently being a member of the European Union puts some restrictions on the exchange of services. Since Cyprus is a member, online gambling falls into the category of things that might need to be restricted. “Ninety-five per cent of electronic gambling services in our country operate legally because they are provided over the Internet and there is no authority where one can apply for a permit,” said Ionas Nicolaou, a local government official. Hopefully things will remain that way.