For another consecutive quarter, betting revenue in Cyprus continued its upward trajectory. The National Betting Authority (NBA) announced a 13% year-on-year increase in revenue for Q3 2024 compared to the same period in 2023.

According to the financial results published by the NBA, total betting revenue from Class A (land-based betting) and Class B (online betting) operators reached €292,011,804 in Q3 2024, marking a 13% increase compared to Q3 2023. Compared to the previous quarter, when revenue stood at €287,889,316, a 2% rise was recorded.

Of the total revenue, €77,364,686 came from Class A operators, while €214,647,118 was generated by Class B operators.

Gross revenue from Class A operators grew by 9% year-on-year and by 18% compared to Q3 2022. Similarly, Class B operators reported a 14% increase compared to Q3 2023 and a 24% rise from Q3 2022.

Total player winnings across both classes reached €255,204,348, reflecting a 10% increase year-on-year and a 22% rise compared to Q3 2022. Notably, the majority of winnings—€191,381,362—came from Class B players.

Total betting earnings from Class A and B operators reached €36,807,456, representing a 34% increase compared to €27,429,585 in Q3 2023. Class A earnings amounted to €13,541,700, up 16% from Q3 2023. Class B earnings reached €23,265,756, marking a 48% increase year-on-year.

The total number of licensed Class A betting establishments across Cyprus fell by 3% year-on-year, with 475 licensed locations operating nationwide. The distribution is as follows:

• Nicosia: 167 locations

• Limassol: 131 locations

• Larnaca: 90 locations

• Paphos: 52 locations

• Famagusta: 35 locations

License cancellations and withdrawals increased by 38% compared to Q3 2023. The number of employees in licensed betting establishments reached 1,518, reflecting a 3% increase year-on-year.

Additionally, the number of blocked illegal betting websites grew by 1% compared to Q2 2024, with 259 new sites added to the restricted list in Q3 2024. The NBA's blacklist now contains a total of 20,733 illegal betting sites.