The sports betting market inwards Republic of Cyprus continued to gain strength inwards 2021. The National Betting Authority (NBA) indicates that it saw a 12% year-on-year increase inwards the thirdly billet of in conclusion year.

The NBA, which provides regulatory oversight of sportsbooks in Cyprus, simply released its to the highest degree recent financial figures. These only treat the thirdly canton of 2021, as the entity has to hold off for all those it manages to state their data. The 3rd quarter brought €192 billion (US$216.84 million) inward aggregated gaming activity to the country.

The betting sector’s recovery continues at a calm pace, spell the overall picture of the sector seems to follow entering a to a greater extent maturate phase angle and presents substantial ontogeny prospects,” said NBA President Ioanna Fiakkou.

Class a operators, those that offer retail betting services, contributed €58.7 zillion (US$66.3 million) of the total. Class group B operators, which include online operations, were responsible for €133 gazillion (US$150.21 million). Those in the former chemical group lost 10% inwards a comparability of the two periods, while Class b operators added 26%.

The Mediterranean island nation at present has 496 licensed operators, 2% to a lesser extent than it did a twelvemonth earlier. That followed the issuance of half a dozen Class group A and 12 Class b sports betting licenses.

The NBA did considerably inwards the third quarter. It earned €168 zillion (US$189.8 million) inwards profit, representing a 15% year-on-year improvement. Gross gaming revenue, however, drop 3%, closing at €24 1000000 (US$27.12 million).

Nicosia Continues to Be the Center of Attention

The urban center of capital of Cyprus continues to insure most of the gaming process in Cyprus. It has 171 Class a properties, with Limassol and its 149 licensed operators following fill up behind. Larnaca, Paphos, and Famagusta around come out the list, with 86, 52 and 38, respectively.

Eventually, Limassol could snatch up. When Melco Resorts and Entertainment can finally open its City of Dreams Mediterranean integrated resort, the city testament erect local competition.

Fiakkou added that there was an 81% decline inwards the figure of licence withdrawals inward the thirdly canton shoemaker's last year. That unload helped ply break employ stability, with the workforce increasing past 4%. The summate figure of employees during the billet was 1,301.

Illegal Betting Sites Still a Concern

For a state the size of it of Cyprus, with only if 1.2 million inhabitants, the betting figures are impressive. However, they could make been better. The NBA has out of use(p) a summate of 15,322 sites that make been operating illicitly in the country.

Those blocked sites were all operating without a Class b license, or offering illegal betting options. The authorization took downwards 16% more sites inward the thirdly canton than it did a twelvemonth earlier, closing down feather 431 illegal operators.