Cyprus Betting Activity Jumps 22 Percent from ‘21

Sat, Mar 18, 2023

Betting activity in the island nation of Cyprus has jumped 22 percent last year from the year before. The Cyprus National Betting Authority also reports that the share of licensed betting shops as a percentage of GDP rose from 0.99 percent in 2016 to 3.55 percent during the same period.

Cyprus Betting Activity Jumps 22 Percent from ‘21

The Cyprus National Betting Authority head Ioanna Fiakkou informed MPs March 13 that betting activity leaped 22 percent in 2022 from the previous year, to €959 million.

She noted that last year the state collected €11.75 million in taxes, some of which it will give to the Cyprus Sports Organization, to sports federations and the Cyprus Football Association. The authority will keep 1 percent of the taxes to run programs fighting gambling addiction.

The share of licensed betting shops as a percentage of GDP rose from 0.99 percent in 2016 to 3.55 percent last year.

Fiakkou said the authority will soon unveil a “self-exclusion” platform that was developed in tandem with the ministries of health and labor. It will, for example, ban welfare recipients from games of chance.

**GGBNews.com is part of the Clarion Events Group of companies (Clarion). We take your privacy seriously. By registering for this newsletter we wish to use your information on the basis of our legitimate interests to keep in contact with you about other relevant events, products and services which may be of interest to you. We will only ever use the information we collect or receive about you in accordance with our Privacy Policy. You may manage your preferences or unsubscribe at any time using the link in our emails.