Cyprus’ betting sector recorded another quarter of growth in Q4 2025, with gross gaming revenue reaching €395.5m. The result represented a 22% increase compared with the same period in 2024, driven mainly by the continued expansion of online betting.

The latest figures from the National Betting Authority (NBA) show that growth was driven primarily by online betting, while retail betting also continued to rise.

For the full year, betting GGR reached €1.32bn, representing an 8% annual growth rate. The latest data points to continued momentum in the regulated market, with online channels widening their lead over land-based operations.

Internet betting generated €301.5m in revenue during the fourth quarter, representing a 27% increase compared with the same period a year earlier.

That made online the clear driver of overall market expansion, accounting for the large majority of quarterly betting revenue.

Land-based betting brought in €94.1m in Q4, up 9% year-on-year. While retail growth was materially slower than in the online segment, the figures still indicate resilient demand across the terrestrial channel.
 

Operator Base Stays Unchanged

The structure of the licensed market did not change during the reporting period. Cyprus continued to have six licensed land-based betting operators and 13 licensed online operators in Q4 2025, suggesting that revenue growth came from higher activity levels rather than new market entrants.

Betting taxes and fees collected in the quarter amounted to €47.4m, an increase of 4% from the prior-year period.
 

Retail Network

The number of licensed betting premises in Cyprus increased slightly, reaching 467 locations, up 1% from Q4 2024.

Nicosia remained the largest retail market with 163 venues, followed by Limassol with 135 and Larnaca with 84.

Paphos accounted for 49 premises, while Famagusta had 36. The relatively limited increase in venue numbers suggests that retail revenue growth was driven more by performance per shop than by a significant expansion of the physical footprint.
 

Enforcement Against Illegal Websites

Cypriot authorities also continued action against unlicensed online activity. In the fourth quarter, the blacklist of blocked or prohibited betting websites reached 22,009 entries, including 184 new additions.

That represented a 5% increase compared with the previous year. The scale of the blacklist underlines the ongoing enforcement challenge in a market where online casino gambling remains prohibited under the current framework.

 

 

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