Cyprus betting wagers fall to €329.8m as operators retain more in second quarter

Nicosia, Cyprus. Licensed bookmakers in Cyprus took €329.8m in wagers during the second quarter of 2026, down €30.3 million from the previous quarter, according to the National Betting Authority (NBA). However, the amount operators kept after winnings were paid increased to €46.9m.

Revenue rises despite quarterly decline in wagers

The NBA figures showed that betting turnover dropped 8.4 per cent from €360.1m in the opening quarter of 2026. Compared with the equivalent period in 2025, when wagers totalled €298.1m, activity was 11 per cent higher.

Gross gaming revenue, the sum operators retain once players receive their winnings, rose 24 per cent from €37.9m a year earlier. It also exceeded the previous quarter’s €45.9m, with bookmakers retaining more money despite taking fewer bets.

Operators kept approximately 14.2 per cent of wagers, against 12.7 per cent in the previous quarter, the figures indicated. This revenue is not net profit because operating costs and other expenses remain to be deducted.

First-half activity exceeds 2025 levels

For January–June 2026, the authority reported approximately €689.9m in total wagers, an 11.5 per cent increase from €619m in the equivalent period of 2025.

Combined operator revenue after winnings were paid amounted to €92.8m for the half-year, almost 17 per cent above the €79.4m recorded a year earlier.

Applying the authority’s betting tax rate of 10 per cent to second-quarter revenue would yield approximately €4.69m in tax, against €3.79m for the equivalent quarter in 2025.

Online operators maintain largest market share

The quarterly data showed that online betting remained the market’s largest segment. Class B operators, which offer betting online, took €252.3m in wagers, up 13 per cent from the equivalent period a year earlier.