Cyprus betting revenues rose 13 per cent year-on-year during the third quarter of 2024, according to the National Betting Authority.

The authority on Wednesday reported that total betting revenues from Class A (retail betting in physical shops) and Class B (online betting) operators reached €292.01 million, marking a 13 per cent rise from the previous year.

Compared to the second quarter of 2024, which recorded revenues of €287.89 million, the latest figures reflect a modest increase of 2 per cent.

Out of the total revenues, €77.36 million came from Class A operators, while Class B operators contributed €214.65 million.

The gross revenue of Class A operators saw a 9 per cent increase compared to the third quarter of 2023 and an 18 per cent rise from the same period in 2022.

Meanwhile, Class B operators experienced a 14 per cent increase year-on-year and a 24 per cent rise compared to 2022.

Total player winnings across both categories amounted to €255.20 million, up by 10 per cent from the third quarter of 2023 and 22 per cent from 2022.

The majority of these winnings, totalling €191.38 million, came from online betting.

The betting commissions collected by Class A and B operators reached €36.80 million, reflecting a 34 per cent increase from the same period in 2023, when commissions stood at €27.43 million.

Specifically, Class A commissions reached €13.54 million, marking a 16 per cent rise from 2023, while Class B commissions surged by 48 per cent to €23.27 million.

The total number of Class A betting establishments across Cyprus decreased by 3 per cent compared to the third quarter of 2023, with 475 licensed establishments operating nationwide.

Nicosia led with 167 establishments, followed by Limassol with 131, Larnaca with 90, Paphos with 52, and Famagusta with 35.

In contrast, licence cancellations and withdrawals increased by 38 per cent compared to the third quarter of 2023.

The number of employees in licensed betting establishments stood at 1,518, reflecting a 3 per cent rise from the previous year.

Illegal betting websites also saw a slight increase, with 259 additional sites being blocked in the third quarter of 2024, representing a 1 per cent rise from the previous quarter.

Finally, the total number of blocked illegal betting websites now stands at 20,733.