AS expected, the bill banning online casino games has not gone down well with the owners of online betting shops who were quick to point out that if the proposal went through, it would lead many to go underground.
But the general consensus on the street yesterday was that the bill was not going to go anywhere any time soon – at least not before the May 22 parliamentary elections – mainly due to the big influence exerted by the people behind such establishments.
The owner of a Nicosia betting shop which also offers online casino games described the bill as “the biggest nonsense they have come up with”.
He said approval of the bill would certainly affect their business and could not understand why the government insisted in making such games illegal instead of taxing them, which would mean significant revenue.
“I am 100 per cent in favour of being taxed. I pay tax to Malta now, some 2.0-3.0 per cent,” said Nicos (not his real name).
Most of these establishments are licensed, usually through a different EU member-state.
“Do you know how many millions we are talking about? The people doing this don’t know how much money we are talking about,” Nicos said.
The turnover of online gambling in Cyprus is reportedly around €2.5 billion.
Despite criticism, the current administration vehemently refuses to grant permits for proper casinos on ideological grounds.
And according to the explanatory report that accompanies the bill banning online casino gambling its “sole aim” is the “effective protection of the public from crime” and the security of transactions.
Nicos’ reply to this is clear: “Is there a chance Cypriots will stop gambling? Are they trying to drive us crazy?”
He expects that the government’s move will backfire.
“At the end of the day this will boomerang. If this goes through there will be 30 to 40 flats set up where people could go and gamble,” Nicos said. “If all these morons don’t understand this, I don’t know what kind of brains they carry.”
He insists that if the government had opted to tax the online casino gambling it would probably help the economy immensely.
“This could easily help Cyprus’ economy. Get it out of the rut. In four to five years we would have the best financial conditions,” Nicos said.
But at the end of the day, despite the significant income it brings him, Nicos said he will not go underground.
“If it’s banned, we’ll shut it down and that’s it. There’s no chance I would do something illegal. I have a shop where everything is legal. There’s no chance I would risk losing the income it brings me and family.”
