The Cyprus Ministry of Finance has indicated that the legislation that would ban Internet gambling in the country has been postponed with three months, after it became clear that the decision of the EU will not take place until March.

The communist government of the Mediterranean island wants a complete ban on online poker, slots and other casino games online. The online gambling turnover for the country is estimated to be around 2.5 billion pounds per year. It is not intended that online sports betting will be banned. There are no casinos in Cyprus, but gamblers have exploited a loophole by allowing you to gamble at online gambling operators from other countries, meaning that online casino gambling is virtually unregulated in Cyprus. Police and government officials have described online casino gambling as a plague that encourages crime.

According to sources, a draft bill calls for the establishment of a licensing authority that issues permits and regulates the several forms of gambling, it would be a little order in the chaos of the online casino gambling market. The Cypriot government has sent the proposed gambling bill to the EC for review, but will not receive an opinion until March 2011, rather than the hoped-for December months this year. The government is against any form of casinos, but residents only need to cross the border to Northern Cyprus where dozens of casinos are available.