Cyprus’ betting market continued to expand during the first quarter of 2026, with total gross revenue from Class A and Class B operators rising by 12 per cent year-on-year to €360.1 million, according to figures released by the National Betting Authority (NBA). 

The figure compares with €320.9m in the corresponding period of 2025, reflecting the continued growth of the sector. According to the authority, online betting remained the main driver of activity during the January – March period. 

Class B operators generated €273m of total gross revenue, while Class A land-based operators accounted for €87.1m. Gross revenue from Class A operators fell marginally by 1 per cent compared with the first quarter of 2025, although it remained 3 per cent higher than during the same period of 2024. 

By contrast, Class B revenue rose by 17 per cent year-on-year and by 15 per cent compared with the first quarter of 2024. 

Player payouts across both categories reached €314.2m during the quarter, representing a 12 per cent increase compared with the corresponding period of the previous year. Online players again received the largest share, collecting €243.3m during the period. 

Overall betting earnings, representing the difference between amounts wagered and player payouts, amounted to €45.9m in the first quarter, an 11 per cent increase compared with €41.5m in the same period of 2025. 

Class A earnings fell by 4 per cent to €16.2m, while Class B earnings rose by 21 per cent to €29.7m. The number of licensed Class A premises nationwide increased marginally by 1 per cent year-on-year to 459. Of these, 164 were located in Nicosia, 132 in Limassol, 81 in Larnaca, 46 in Paphos and 36 in Famagusta. 

Employment in licensed betting shops also rose by 10 per cent, with staff numbers reaching 1,529. At the same time, the NBA said licence cancellations and withdrawals increased by 125 per cent compared with the first quarter of 2025. 

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

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

By the end of March, the list of blocked illegal betting websites had grown to 22,415, with 406 new websites added during the quarter, representing a 5 per cent increase compared with the corresponding period of the previous year.