betting activity

National Betting Authority warns against illegal online betting

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National Betting Authority warns against illegal online betting

The National Betting Authority warned the public about the proliferation of illegal betting activity, especially online. One example cited was the website https://parimatchcyprus.com.cy, which redirects to https://n1bet.com/en-CA?modal=signUp, providing illegal betting services without a permit. The NBA advised the public to be cautious and check which companies are lawfully licensed by visiting its website at www.nba.gov.cy.

Cyprus, ’ betting revenue tops €1 billion in 2023

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Cyprus, ’ betting revenue tops €1 billion in 2023

– Revenues from betting activity in Cyprus showed a steady growth, with the gross betting revenue of Class A and Class B recipients reaching €325,601,464 in Q4 of 2023, marking a 10% increase compared to the same quarter in 2022.
– The total gross betting revenue for the year 2023 exceeded one billion euros, reaching €1,109,209,082, which is a 16% increase compared to 2022.
– Class A recipient gross revenue increased by 8% in Q4 of 2023 compared to the same quarter in 2022, while Class B gross recipient revenue was up by 11%.
– The profits of Class A and B players also increased by 10% in Q4 of 2023 compared to the same period in 2022, reaching €291,754,064.
– The total number of Class A properties in Cyprus increased slightly by 2% in Q4 of 2023 compared to the same quarter in 2022, with a total of 490 licensed properties in the country.