Cyprus betting reaches €312.5m in third quarter

Cyprus’ betting market continued to expand in the third quarter of 2025, with total gross revenue from Class A and Class B operators rising by 7 per cent year-on-year to €312.5 million, according to figures released by the National Betting Authority (NBA).

The figure also represents a 20 per cent increase compared with the same period in 2023.

According to the authority, online betting continued to dominate activity during the July – September period.

Class B operators generated €235.7m of total gross revenue, while Class A land-based premises accounted for €76.8m.

The NBA noted that gross revenue from Class A operators edged down by 1 per cent compared with the third quarter of 2024, although it was 7 per cent higher than two years earlier.

By contrast, Class B revenue rose by 10 per cent year-on-year and was 25 per cent higher than in the third quarter of 2023.

Player payouts across both categories reached €277.5m in the quarter, representing a 9 per cent annual increase and a 20 per cent rise compared with 2023.

Online players again received the largest share, collecting €214.3m during the period.

Overall betting earnings, the difference between pay-ins and pay-outs, amounted to €35m, a 5 per cent decline compared with the same quarter last year.

Class A earnings slipped by 1 per cent to €13.6m, while Class B earnings fell by 8 per cent to €21.4m.

The number of licensed Class A premises nationwide declined by 2 per cent year-on-year to 465.

Of these, 165 were located in Nicosia, 133 in Limassol, 83 in Larnaca, 48 in Paphos and 36 in Famagusta. Employment in licensed betting shops also fell by 2 per cent, with staff numbers standing at 1,495.

The NBA said there was an improvement in regulatory compliance, noting that licence cancellations and withdrawals dropped by 28 per cent compared with the third quarter of 2024.

At the same time, the authority continued efforts to clamp down on unlicensed activity.

By the end of September, the list of blocked unlicensed betting websites had grown to 21,825, with 192 new additions during the quarter, reflecting a 5 per cent increase on an annual basis.