betting revenue — betting revenue — Cyprus’ betting market has shown significant growth, with total gross revenue reaching €298.1 million in the second quarter of 2025, marking a 4 per cent increase compared to the same period last year, according to the National Betting Authority (NBA).
- This revenue figure also indicates a robust 16 per cent rise from Q2 2023, further solidifying the upward trend in the island's betting activities.
- Despite the overall growth, land-based revenues saw a slight decline, falling by 3 per cent compared to the second quarter of 2024, although they remained 3 per cent higher than in 2023.
This revenue figure also indicates a robust 16 per cent rise from Q2 2023, further solidifying the upward trend in the island’s betting activities.
Betting revenue: Online Betting Leads the Market
Online betting platforms have taken the lead in revenue generation, continuing to dominate the market. Class B operators, which primarily encompass online platforms, accounted for a substantial €224.2 million of the total revenue, while Class A establishments, which include physical betting shops, generated €73.9 million.
Despite the overall growth, land-based revenues saw a slight decline, falling by 3 per cent compared to the second quarter of 2024, although they remained 3 per cent higher than in 2023.
Player Payouts and Earnings
During the April to June period, player payouts across both categories reached €260.1 million, reflecting a 5 per cent increase from last year and a 14 per cent rise when compared to 2023. Class B players received the largest share of these payouts, totalling €200.4 million.
Overall betting earnings, calculated as the difference between the amount wagered and the payouts, stood at €37.9 million, indicating a 3 per cent decline from the previous year. Class A establishments reported a 9 per cent drop in earnings to €14.2 million, while Class B’s earnings saw a modest increase of 1 per cent, totalling €23.8 million.
Changes in Licensed Betting Premises
The number of licensed Class A betting premises has decreased by 3 per cent year-on-year, totalling 460 across Cyprus. The distribution of these establishments is as follows: 163 in Nicosia, 130 in Limassol, 84 in Larnaca, 48 in Paphos, and 35 in Famagusta. Employment within these licensed shops also experienced a downturn, with staff numbers declining by 2 per cent to 1,436.
Improved Compliance and Crackdown on Illegal Betting
The NBA reported a notable improvement in compliance within the betting sector, highlighting a remarkable 79 per cent reduction in licence cancellations and withdrawals compared to Q2 2024. This improvement reflects the authority’s ongoing efforts to ensure regulatory adherence among betting operators.
Additionally, the NBA has intensified its campaign against unlicensed betting activities. By the end of June, the list of blocked illegal betting sites had expanded to 21,633, with 322 new additions during the quarter, representing a 6 per cent annual increase.
