Philenews

Betting Market Continues Growth in Cyprus During Q3 2025

Published January 13, 2026, 12:14
Betting Market Continues Growth in Cyprus During Q3 2025

The betting market in Cyprus continued to demonstrate strong momentum in Q3 2025, with gross revenue reaching €312.48 million, a 7% increase compared to the same quarter of 2024 and a 20% increase compared to 2023. The growth is primarily driven by online betting (Class B), which recorded increases of 10% and 25% respectively. Revenue from land-based betting (Class A) remained relatively stable, with a slight decrease of 1% year-on-year, but an increase of 7% compared to 2023. Player winnings amounted to €277.45 million, with the largest share going to online betting players (€214.29 million). Betting yields (gross gaming revenue) decreased by 5% compared to 2024, due to declines in both Class A and Class B. A decrease was observed in the number of licensed land-based betting premises by 2%, while the number of employees remained stable. The National Betting Authority continues its efforts to block illegal betting websites, with the number of websites on the list reaching 21,825, an increase of 5% compared to the previous year. Intensifying controls and combating illegal activity remain a priority for the Authority.