The National Betting Authority on Friday reported that Cyprus’ betting sector revenues remained steady in the first quarter of 2025, holding at last year’s levels but marking a sharp rise compared with 2023.

Gross revenues from Class A (land-based) and Class B (online) betting reached €320.9 million in January–March, broadly unchanged from the €321.5 million recorded a year earlier but up 20 per cent from 2023.

Of the total, €87.8m came from land-based operators, up 4 per cent on 2024 and 14 per cent on 2023.

Online betting generated €233.1m, a slight drop of 2 per cent from last year but still 22 per cent higher than in 2023.

Player winnings amounted to €279.4m, down 2 per cent year-on-year but 19 per cent higher than two years earlier, with the bulk (€208.6m) paid out to online players.

Combined earnings for Class A and B operators rose 15 per cent to €41.5m, compared with €36.1m in the first quarter of 2024.

Land-based operators posted earnings of €16.9m, up 11 per cent, while online betting earnings advanced 17 per cent to €24.6m.

The number of licensed Class A premises declined by 4 per cent to 453, including 162 in Nicosia, 127 in Limassol, 85 in Larnaca, 51 in Paphos and 34 in Famagusta.

Staff employed at these outlets fell 5 per cent to 1,393. At the same time, lcense cancellations and withdrawals dropped by 38 per cent year-on-year.

Meanwhile, the authority said efforts to curb illegal betting activity intensified, with 322 websites added to its block list in the first quarter, raising the total number of banned sites to 21,311.