Parliament is currently discussing a proposed update to Cyprus gambling laws which is expected to dramatically increase the sizes of fines and lengthen jail sentences for both players and online casinos in Cyprus.
The proposed legislation will boost the punishment for owners and operators of illegal online casinos in Cyprus to €500,000 in addition to 10 years in prison. Players who are caught gambling at online casinos in Cyprus would face €170,000 fine and up to five years in prison.
The proposed new Cyprus gambling law was created to control the proliferation of online casinos which generate millions of dollars in untaxed profits from residents of Cyprus.
The law would also force internet service providers in Cyprus to block the IPs and domain names websites that illegally offer online gambling services to residents of Cyprus.
Proposed Cyprus Gambling Law
“There will be a continuous war to locate these webpages that will be placed on a register,” DISY MP Ionas Nicolaou said.
MP Nicolaou wants to especially crack down hard on legally licensed gambling establishments which are secretly providing illegal gambling options hidden within
Home players have not been exempt within the proposed Cyprus gambling laws and if caught playing at unlicensed online casinos, they can expect to spend as much as half a decade behind bars just for playing a single online bingo games in Cyprus.