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Cyprus Betting Industry Sees 7% Revenue Growth In Q3 2025 Amid Digital Surge

by THEFUTURE.TEAM

January 14, 2026

Robust Market Expansion In Cyprus

The Cyprus betting market continued its upward trajectory in the third quarter of 2025, with aggregate gross revenue from Class A and Class B operators climbing 7% year-on-year to €312.5 million, according to figures released by the National Betting Authority (NBA). This represents a significant 20% increase from the corresponding period in 2023, underscoring robust momentum within the sector.

Online Betting Dominates

During the July to September quarter, online betting remained the primary driver of sector activity. The digital transition reflects broader industry trends, where enhanced technological platforms and a shift in consumer behavior continue to redefine the competitive landscape.

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Detailed Revenue Breakdown

Within the market, Class B operators led revenue generation with €235.7 million, while traditional Class A land-based establishments contributed €76.8 million. Notably, although gross revenue for Class A operators slightly dipped 1% compared to Q3 2024, it still posted a 7% improvement over two years. In contrast, Class B revenue surged 10% year-on-year, marking a 25% increase from the same period in 2023.

Player Payouts And Earnings

Player payouts collectively reached €277.5 million, a 9% increase over the previous year and a 20% rise over 2023, with online bettors receiving the lion’s share of €214.3 million. Despite this growth, overall betting earnings—defined as the net difference between pay-ins and pay-outs—declined by 5% to €35 million. This downward trend was reflected across both segments, with Class A earnings falling by 1% to €13.6 million and Class B earnings decreasing by 8% to €21.4 million.

Market Dynamics And Operational Adjustments

The number of licensed Class A betting premises experienced a slight contraction, dropping 2% year-on-year to 465 outlets. The distribution of these premises included 165 in Nicosia, 133 in Limassol, 83 in Larnaca, 48 in Paphos, and 36 in Famagusta, accompanied by a parallel 2% reduction in employment figures among betting shop staff, which now stands at 1,495.

Enhanced Regulatory Compliance

The NBA also reported improvements in regulatory compliance. Licence cancellations and withdrawals fell by 28% compared to Q3 2024, demonstrating a tightening of oversight. Simultaneously, efforts to curtail unlicensed activities intensified, with the list of blocked unlicensed betting websites expanding to 21,825 by the end of September – including 192 new additions during the quarter, a 5% annual increase.

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Cyprus Introduces €200 Million Support Measures To Cut Energy And Food Costs

by THEFUTURE.TEAM

March 27, 2026

Comprehensive Relief Measures For A Resilient Economy

The government of Cyprus introduced support measures exceeding €200 million to reduce household expenses and support key sectors. The package targets energy costs, food prices, tourism and agriculture. Measures come in response to rising costs and supply pressures. Implementation begins in April and May 2026.

Energy And Fiscal Reforms

The government will reduce VAT on electricity for households to 5% from May 1, 2026, to March 31, 2027. The measure is expected to lower energy bills. Special consumption tax on transport fuels will decrease by 8.33 cents per liter between April and June 2026. Policy targets fuel-related costs.

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Broadening The Zero VAT Initiative

Authorities will expand the list of products with zero VAT. Meat, poultry and fish will be included from April 1 to September 30, 2026. Existing zero-VAT categories already include fruits and vegetables. The government also decided not to introduce a green tax on fuels, avoiding an additional cost of about 9 cents per liter.

Sector-Specific Supports

The package includes a 30% wage subsidy for hotel employees for April 2026. Measure supports tourism businesses during the early season. Support for airlines aims to maintain connectivity with key destinations. The agriculture sector will receive subsidies covering 15% of costs for fertilizers and supplies in April and May.

Economic Stability, National Security

President Nikos Christodoulidis said economic stability remains a priority for the government. He noted that growth, fiscal balance and inflation trends support current policy decisions. Statement links economic policy with broader national priorities. The government continues to monitor external risks.

Ensuring Consumer Protection

Furthermore, the government has mandated rigorous market oversight and intensified inspections to prevent exploitative pricing during this period of economic intervention. This proactive stance ensures that the benefits of the measures directly serve the citizens without unintended inflationary impacts.