Cyprus’ betting market continued to strengthen in the fourth quarter of 2025, with total gross revenue from Class A and Class B operators rising by 22 per cent year-on-year to €395.5 million, according to figures released by the National Betting Authority (NBA). 

The figure compares with €323.2m in the corresponding period of 2024, confirming the continued expansion of the sector.

On an annual basis, total gross revenue for 2025 reached €1.33 billion, marking an 8 per cent increase compared with €1.22bn in 2024.

According to the authority, online betting continued to account for the largest share of activity during the October–December period.

Class B operators generated €301.5m of total gross revenue, while Class A land-based premises accounted for €94.1m.

The NBA said gross revenue from Class A operators rose by 9 per cent compared with the fourth quarter of 2024 and by 4 per cent compared with the same period in 2023.

By contrast, Class B revenue recorded a stronger increase, rising by 27 per cent year-on-year and by 28 per cent compared with the fourth quarter of 2023.

Player payouts across both categories reached €348.2m in the quarter, representing a 25 per cent annual increase.

Online players again received the largest share, collecting €271.5m during the period.For the full year, total player payouts amounted to €1.17bn, up 9 per cent compared with 2024.

Overall betting earnings, the difference between pay-ins and pay-outs, amounted to €47.4m in the fourth quarter, a 4 per cent increase compared with €45.5m in the same quarter of the previous year. 

Class A earnings fell by 5 per cent to €17.4m, while Class B earnings rose by 10 per cent to €30m.

The number of licensed Class A premises nationwide increased marginally by 1 per cent year-on-year to 467.

Of these, 163 were located in Nicosia, 135 in Limassol, 84 in Larnaca, 49 in Paphos and 36 in Famagusta. Employment in licensed betting shops also rose by 6 per cent, with staff numbers standing at 1,556.

At the same time, the NBA said licence cancellations and withdrawals increased by 122 per cent compared with the fourth quarter of 2024.

The number of operators remained unchanged, with six Class A operators and 13 Class B operators active in the market.

Meanwhile, the authority continued efforts to clamp down on unlicensed activity.

By the end of December, the list of blocked illegal betting websites had grown to 22,009, with 184 new additions during the quarter, reflecting a 5 per cent increase on an annual basis.