Cyprus Sports Betting Grows 11% in the Second Quarter of 2026
Cyprus.- 23 October 2026 | www.zonadeazar.com Cyprus’s regulated sports betting market recorded 11% year-on-year growth during the second quarter of 2026, with total betting turnover reaching €329.8 million.
The figures, published by the National Betting Authority (NBA), cover the period from April to June 2026.
Growth was primarily driven by online betting, which accounted for more than three-quarters of total market activity.
Key Financial Results
According to the official statistics, licensed operators recorded:
- €329.8 million: total betting turnover, up 11% year-on-year.
- €46.9 million: gross gaming revenue (GGR), representing 24% growth.
- €282.9 million: player winnings, up 9%.
- €252.3 million: online betting turnover, increasing by 13%.
- €77.5 million: land-based betting turnover, up 5%.
Gross gaming revenue represents the difference between total stakes and player winnings, before taxes and operating expenses.
Online Betting Accounts for 76.5% of the Market
Class B operators, which provide online betting services, recorded €252.3 million in wagers, compared with approximately €223 million during the corresponding quarter of 2025.
The segment accounted for 76.5% of total betting turnover, reinforcing its position as the industry’s largest distribution channel.
Online gross gaming revenue reached €30.2 million, representing 27% year-on-year growth.
Meanwhile, Class A land-based operators recorded €77.5 million in turnover and €16.7 million in GGR, an increase of 18%.
Higher Operator Revenue Despite Quarterly Turnover Decline
Although betting activity increased compared with 2025, total stakes declined by 8.4% compared with the first quarter of 2026, when turnover reached €360.1 million.
However, gross gaming revenue increased from €45.9 million to €46.9 million.
This indicates that operators retained a greater proportion of wagers after paying out player winnings.
The sector’s gross margin reached approximately 14.2%, compared with 12.7% during the first three months of the year.
First-Half 2026 Performance
Between January and June, Cyprus’s regulated sports betting market generated €689.9 million in turnover, compared with €619 million during the corresponding period of 2025.
This represented 11.5% growth.
Combined gross gaming revenue reached €92.8 million, increasing by nearly 17%.
The figures illustrate an expanding market, with digital betting accounting for an increasingly significant proportion of total activity.
Regulatory Oversight and Illegal Gambling Enforcement
The National Betting Authority also reported on its ongoing regulatory activities.
At the end of the second quarter, Cyprus had:
- 6 licensed Class A operators.
- 13 licensed Class B operators.
- 461 licensed betting premises.
- 1,584 people employed within the betting industry.
The regulator also added 245 illegal gambling websites to its blocking list during the quarter.
The cumulative register reached 22,660 domains, reflecting continued efforts to combat unauthorised betting operations.
Industry Impact and Outlook
The results confirm the continued growth of Cyprus’s sports betting market, particularly within the online segment.
Gross gaming revenue increasing faster than total betting turnover also indicates an improvement in operators’ retained margins during the quarter.
For the iGaming industry, Cyprus represents a regulated market where digital transformation, operator supervision and action against illegal gambling are becoming increasingly important.
Performance over the coming quarters will help determine whether the sector can maintain its current growth trajectory.
Editó: @fonta
