Cyprus Betting GGR Rises 23.6% to €46.9 Million in Q2 2026

Cyprus’ licensed betting market generated gross gaming revenue of €46.9 million in the second quarter of 2026, up 23.6% year on year, according to the National Betting Authority (NBA).

Total stakes increased 10.6% to €329.8 million during April-June, while player payouts rose 8.8% to €282.9 million. Revenue grew faster than wagering as operators retained a larger proportion of bets after paying winnings. 

The figures cover licensed retail and online betting rather than the island’s entire gambling industry. Online casinos are prohibited in Cyprus, while land-based casino activity falls under the separate Gaming and Casino Supervision Commission. 

Online Betting Drives Growth

Online operators licensed under Class B accepted €252.3 million in wagers, an increase of 12.6% compared with the same quarter of 2025. Their GGR rose 27.2% to €30.2 million, with payouts reaching €222.1 million, up 10.8%.

Retail bookmakers operating under Class A licences handled €77.5 million in stakes, up 4.9%. Player winnings increased 1.9% to €60.8 million, leaving GGR of €16.7 million, a 17.5% annual increase.

Based on the reported totals, online betting accounted for approximately 76.5% of stakes and 64.4% of GGR. Retail operators retained a higher proportion of wagers, with a margin of approximately 21.5%, compared with 12% online. 

Taxes and Contributions Reach €7 Million

Licensed bookmakers generated approximately €7 million in betting taxes and contributions, up 23.6% year on year.

The total comprised €4.7 million in betting tax and €2.3 million in contributions. Online operators accounted for approximately €4.5 million of the combined amount, while retail bookmakers contributed €2.5 million.

The report applies a 10% betting tax and a separate 5% contribution to GGR. Together, these charges represented 15% of operators’ revenue after player payouts. 

Operator Numbers Remain Stable

The number of licensed bookmakers was unchanged from the previous quarter, with six Class A operators and 13 Class B operators.

Cyprus had 461 licensed betting premises. Nicosia accounted for the largest number, with 162 locations, followed by Limassol with 134, Larnaca with 83, Paphos with 46 and Famagusta with 36. Employment at licensed premises increased approximately 10% year on year to 1,584 people.

The NBA added 245 illegal websites to its blocking list during the quarter, bringing the total to 22,660. The overall list was approximately 4.7% larger than a year earlier.