Cyprus Betting Market Grows 7% in Q3 2025 as Online Play Dominates

Cyprus’ betting market continued its expansion in the third quarter of 2025, with total gross revenue from Class A and Class B operators rising 7 per cent year-on-year to €312.5 million, according to data released by the National Betting Authority (NBA). The figure also marks a 20 per cent increase compared with the same period in 2023. The authority reported that online betting maintained its dominant role during the July to September period.

Class B operators generated €235.7 million in total gross revenue, while Class A land-based premises accounted for €76.8 million. The NBA noted that gross revenue from Class A operators edged down 1 per cent compared with Q3 2024, although it remained 7 per cent higher than two years earlier. In contrast, Class B revenue rose 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 €277.5 million during the quarter, representing a 9 per cent increase from the previous year and a 20 per cent rise compared with 2023. Online players again received the largest share, collecting €214.3 million over the period. Overall betting earnings, calculated as the difference between pay-ins and pay-outs, amounted to €35 million, a 5 per cent decline compared with the same quarter last year. Class A earnings slipped 1 per cent to €13.6 million, while Class B earnings fell 8 per cent to €21.4 million.

The number of licensed Class A premises nationwide declined 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 reported an improvement in regulatory compliance, noting that licence cancellations and withdrawals dropped 28 per cent compared with the third quarter of 2024. Simultaneously, the authority continued efforts to crack 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.

By fLEXI tEAM