UK law firm, Poppleston Allen, has revealed that it has been working closely with the government of Cyprus to create a new iGaming legislative framework, which will enable it to become a liberal jurisdiction and a viable destination for online casinos and sportsbooks in Europe. The firm has said that the work on the draft proposition is almost complete and will be presented to the government’s betting steering committee within the next two months.
Poppleston Allen partner, Paddy Whur explained that: ‘With these two pieces of legislation in place, Cyprus will benefit early from the lifting of government monopolies and other liberalising moves within gambling across the EU. They will also be able to take advantage of the expected developments in online gaming technology and its growth as a leisure pursuit.’
‘By evaluating the existing legal framework in comparable jurisdictions, especially in EU member states, a modern law has been created to offer protection to gamblers, children and vulnerable people and to keep online gaming crime free.’