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Cyprus Betting Industry: Key Growth Trends And Insights For Q3 2024

by THEFUTURE.TEAM

February 6, 2025

The Cypriot betting sector has shown consistent growth across both land-based and online platforms, continuing its positive trajectory through Q3 2024. The National Betting Authority (NBA) reported a 13% increase in revenue year-on-year, reflecting a robust performance despite changing dynamics in the market.

Revenue Breakdown: Strong Gains In Both Sectors

For the third quarter of 2024, total betting revenue reached €292 million, with €214.6 million generated by online operators (Class B), and €77.3 million coming from land-based operators (Class A). Online betting continues to dominate, with Class B showing a 14% growth compared to Q3 2023, and a notable 24% increase since Q3 2022.

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Class A Operators: €77.3 million (+9% YoY)
Class B Operators: €214.6 million (+14% YoY)

Player Winnings: A Significant Increase

Player winnings across both categories rose to €255 million, a 10% increase compared to the same period last year. Notably, the majority of this total (€191.3 million) came from online players, showing continued dominance in digital betting.

Total Player Winnings: €255.2 million (+10% YoY)
Class A Winnings: €63.8 million
Class B Winnings: €191.3 million

Betting Earnings: Online Surge

Betting earnings showed an impressive increase across both land-based and online operators, with a combined total of €36.8 million. The most significant growth was observed in online betting (Class B), which saw a 48% rise year-on-year, compared to the 16% growth of land-based operators (Class A).

Total Betting Earnings: €36.8 million (+34% YoY)
Class A Earnings: €13.5 million (+16% YoY)
Class B Earnings: €23.3 million (+48% YoY)

Trends In Licensed Establishments And Employment

While the number of licensed land-based establishments fell slightly by 3% to 475, the sector remains widespread across Cyprus. The employee count in licensed establishments grew by 3%, reaching 1,518 individuals.

Licensed Locations: 475 (-3% YoY)
Employees in Betting Establishments: 1,518 (+3% YoY)

Illegal Betting And Regulatory Actions

The NBA’s commitment to fighting illegal betting continued in Q3 2024, with a 1% increase in the number of blocked illegal websites, bringing the total to over 20,700 sites. This effort reflects growing concerns over the regulation of online gambling in the region.

New Illegal Betting Sites Blocked: 259 sites (+1% from Q2 2024)
Total Blocked Sites: 20,733

The betting industry in Cyprus is experiencing sustained growth, driven primarily by online operators. The consistent increase in both revenue and player activity, along with the growing efforts to combat illegal betting, indicates that Cyprus is likely to maintain its upward momentum in the coming quarters.

The Future Forbes Realty Global Properties

Beehiiv Launches Native Podcast Hosting For Creators

Platform Expansion With Strategic Vision

Beehiiv introduced native podcast hosting, allowing creators to host, distribute, and monetise podcasts within the same platform as their newsletters. The update is aimed at reducing the need for multiple tools used for content creation and distribution.

Unified Content, Unified Revenue

Tyler Denk said newsletters and podcasts share similar formats, focusing on long-form content delivered to recurring audiences. He added that the new feature enables creators to bundle podcast content with newsletter subscriptions, including early access and premium material. The platform allows creators to retain full revenue from subscriptions and sponsorships, positioning it as an alternative to platforms that apply revenue-sharing models.

Robust Features And Distribution Capabilities

The podcast hosting feature supports audio uploads in MP3, M4A, and WAV formats, with automatic audio normalisation for consistent playback. Each episode includes a transcript and a dedicated webpage designed to improve search visibility. Distribution is supported across platforms such as Apple Podcasts, Spotify, Overcast, and Castro. Analytics tools based on IAB standards provide data on audience location, device, and usage patterns.

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Competitive Edge And Future Outlook

Integration responds to demand from users already hosting podcasts externally and reflects broader competition in the creator tools market. In recent months, Beehiiv has expanded its product offering, including updates to analytics and AI-based tools. Adding podcast hosting positions the platform as a single system for content distribution and monetisation, particularly for creators managing multiple formats.

Conclusion

Native podcast hosting expands Beehiiv’s functionality beyond newsletters and broadens its product scope. This shift reflects a wider move toward integrated platforms that combine content creation, distribution, and revenue management in one environment.