Cyprus betting revenue rises despite quarterly fall in wagers

Nicosia, Cyprus. Licensed bookmakers in Cyprus recorded €329.8m in wagers during the second quarter of 2026, a quarterly drop of €30.3 million, while revenue retained after winnings increased, the National Betting Authority (NBA) reported.

Betting revenue outpaces wagering activity

According to the NBA figures, wagers were down 8.4 per cent from the first quarter’s €360.1m. However, they remained 11 per cent above the €298.1m registered in the equivalent period of 2025.

Gross gaming revenue reached €46.9m, an annual increase of 24 per cent from €37.9m. It also exceeded the previous quarter’s €45.9m, indicating that operators retained a larger amount despite handling fewer wagers.

The figures showed that bookmakers retained approximately 14.2 per cent of wagers, against 12.7 per cent in the previous quarter. Gross gaming revenue measures the amount remaining after player winnings are paid, rather than net profit, because operating costs and other expenses have yet to be deducted.

Cyprus ranks third in EU tourism intensity

Separately, a Eurostat report placed Cyprus third among EU countries for tourism intensity in 2025, with tourist accommodation accounting for an average of 19.4 nights per resident.

Only Croatia, at 24.5 nights per resident, and Malta, at 21.7, ranked higher. The report put Greece next at 15.1, followed by Austria at 14.6, placing Cyprus among the EU countries with the greatest tourism activity relative to their resident populations.

Eurostat reported an EU average of 7.0 nights per resident for 2025, compared with 6.7 in 2024. Romania had the lowest tourism intensity, at 1.6 nights per resident, followed by Latvia at 2.7. Poland and Slovakia each recorded 2.9.