Newsroom
Betting revenues in Cyprus stayed virtually unchanged in the first three months of 2025 compared to last year, but the industry still showed strong growth over the past two years, according to figures released Thursday by the National Betting Authority.
Gross revenues from both land-based betting shops (Class A) and online platforms (Class B) totaled €320.9 million in the first quarter, almost identical to the €321.5 million recorded in 2024. However, that figure is up a solid 20% from 2023, when revenues stood at €267.6 million.
Breaking it down, Class A shops brought in €87.8 million, a 4% jump from last year, while online operators reported €233.1 million, slipping 2% compared to 2024 but still 22% higher than in 2023.
Players, meanwhile, walked away with €279.4 million in winnings, slightly down 2% from last year but 19% higher than two years ago. Most of that, €208.5 million, came from online bets.
The state’s share also grew: betting fees from both sectors reached €41.5 million, up 15% from last year.
But the report also highlighted the ongoing fight against illegal gambling. In the first quarter alone, 322 unlicensed websites were added to the blocklist, bringing the total number of banned sites to 21,311.
As for the brick-and-mortar side of the industry, Class A shops across Cyprus fell slightly to 453 outlets, down 4% from last year. These shops employ nearly 1,400 people, a small decline of 5% compared to 2024.
The National Betting Authority described the results as proof of the sector’s “steady upward course and resilience” despite shifting consumer habits and tighter regulations.
