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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.

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EU Moderates Emissions While Sustaining Economic Momentum

by THEFUTURE.TEAM

November 15, 2025

The European Union witnessed a modest decline in greenhouse gas emissions in the second quarter of 2025, as reported by Eurostat. Emissions across the EU registered at 772 million tonnes of CO₂-equivalents, marking a 0.4 percent reduction from 775 million tonnes in the same period of 2024. Concurrently, the EU’s gross domestic product rose by 1.3 percent, reinforcing the ongoing decoupling between economic growth and environmental impact.

Sector-By-Sector Performance

Within the broader statistics on emissions by economic activity, the energy sector—specifically electricity, gas, steam, and air conditioning supply—experienced the most significant drop, declining by 2.9 percent. In comparison, the manufacturing sector and transportation and storage both achieved a 0.4 percent reduction. However, household emissions bucked the trend, increasing by 1.0 percent over the same period.

National Highlights And Notable Exceptions

Among EU member states, 12 reported a reduction in emissions, while 14 saw increases, and Estonia’s figures remained static. Notably, Slovenia, the Netherlands, and Finland recorded the most pronounced declines at 8.6 percent, 5.9 percent, and 4.2 percent respectively. Of the 12 countries reducing emissions, three—Finland, Germany, and Luxembourg—also experienced a contraction in GDP growth.

Dual Achievement: Environmental And Economic Goals

In an encouraging development, nine member states, including Cyprus, managed to lower their emissions while maintaining economic expansion. This dual achievement—reducing environmental impact while fostering economic activity—is a trend that has increasingly influenced EU climate policies. Other nations that successfully balanced these outcomes include Austria, Denmark, France, Italy, the Netherlands, Romania, Slovenia, and Sweden.

Conclusion

As the EU continues to navigate its climate commitments, these quarterly insights underscore a gradual yet significant shift toward balancing emissions reductions with robust economic growth. The evolving landscape highlights the critical need for sustainable strategies that not only mitigate environmental risks but also invigorate economic resilience.