Steady Revenues Amid Underlying Growth
Cyprus’ National Betting Authority announced that the nation’s betting industry maintained robust revenue levels in the first quarter of 2025, matching the figures recorded last year while demonstrating a significant leap from 2023. Combined gross revenues from both land‐based (Class A) and online (Class B) betting reached €320.9 million between January and March, up 20% from the previous year’s performance in 2023.
Performance By Channel
In detail, land‐based operators generated €87.8 million, reflecting a 4% increase over 2024 and a 14% rise compared to 2023. Meanwhile, online betting revenues, while slightly down 2% compared to last year at €233.1 million, still represent a 22% year‐on‐year improvement from 2023. Total player winnings amounted to €279.4 million, showing a modest 2% decline year‐on‐year but a solid 19% increase compared with two years earlier, with online players receiving €208.6 million of these winnings.
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Enhanced Earnings And Operational Efficiency
Operators in both sectors witnessed a combined earnings boost to €41.5 million, marking a 15% rise relative to the €36.1 million earned in the first quarter of 2024. Land-based operators saw an 11% increase in earnings to €16.9 million, while the online segment enjoyed a 17% surge, reaching €24.6 million. Despite these positive figures, the number of licensed Class A premises experienced a 4% decline to 453, accompanied by a 5% reduction in staff numbers, now totaling 1,393. Additionally, license cancellations and withdrawals fell by 38% on a year‐on‐year basis, suggesting improved market stability and compliance.
Strengthening Measures Against Illegal Betting
The Authority remains committed to curbing unlawful betting activities. In a notable crackdown during the first quarter, 322 additional websites were added to the block list, bringing the total number of banned sites to 21,311. This initiative underscores the regulatory focus on maintaining a fair and secure betting environment.

