Cyprus Legalizes Online Casinos
September 17th, 2010
Even when you visit online casinos only for the free video slots or a hand or two of poker, good news are never out of the question. For many years now, the legality of online casinos has been up in the air. Especially in the United States. However, countries all over the world seem to be taking the opposite direction and finally accepting (and learning to tax) this ever-so popular industry.
One country to make the smart move is Cyprus. Cyprus is the third largest Mediterranean island and is located just 30 miles of Turkey. This location appears to be ideal for many online casino operators who have decided to move their business there. Places like the United Kingdom, even when fully regulating and legalizing online gambling, have added a high tax around it, much too high for many who have simply moved their business to places like Cyprus.
Cyprus has chosen to follow the UK’s example to solve their online gambling industry issues and regulate the business as opposed to shutting it down completely. Cyprus has taken a long look at what was been happening around the world regarding this topic and decided what would be best for their country by making the industry legal.
Different government agencies from around the globe who are looking to consider the possibility of accepting the online gaming industry take Cyprus as a good example. It wouldn’t be a total surprise if in the near future many other countries draft their new bills towards regulating and taxing the industry. Even when the gaming part is restricted to simply playing some types of tables games and exclude video slot machines or poker, online casino players could still take advantage of many other games. Players will also be able to enjoy these restricted games in a free version without depositing (or withdrawing for that matter) real money.
