Betfair, the leading online betting exchange and casino operator, has taken its fight against Cyprus’s unfair online gambling laws one step further by lodging a formal complaint against the island-state. The complaint was lodged with the European Commission against new laws adopted by Cyprus in July this year, essentially prohibiting betting operators and exchanges such as Betfair from accepting cash clients and transactions.
Betfair claims that the move by Cyprus is discriminatory and also a disproportionate breach of European Union law, which has always encouraged free trade among member states and open markets. Betfair particularly has a problem with the fact that all other sports betting products will be allowed in Cyprus.
The Chief Legal and Regulatory Officer for the betting exchange, Martin Cruddance said that Betfair was disappointed with the inclusion of elements in the law which would unfairly discriminate against Betfair and are incompatible with European law. Betfair was instrumental in helping drafting Cypriot law up until a point.
Betfair asked the European Commission to review the matter and engage with Cypriot authorities, with a view to addressing the concerns raised by the complaint.
Speaking to the media, Cruddance said that Betfair is a transparent and responsible operator with a sound track record of working cooperatively with governments in many jurisdictions. He argued that Cyprus’ new laws go against European free market principles and Betfair looks forward to working with the Commission and the Cypriot government so that the betting exchange is able to provide its customers with what he terms Betfair’s “best in class exchange product and odds value.”
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