National Betting Authority: First Quarter of 2023 Sees 21% Growth in Gross Betting Revenues

The National Betting Authority has reported a substantial increase in gross revenues from land-based and online betting in the first quarter of 2023. Gross revenues reached €267.6 million, representing a 21% rise compared to the corresponding period last year.

Online betting revenue (class B) accounted for the majority share, contributing 71.3% of the total gross revenue. In specific terms, the gross betting revenues for Class A (land-based betting) and Class B (online betting) recipients amounted to €267,620,865, marking a significant increase of 21% compared to the corresponding quarter of 2022 and a notable 53% increase compared to the first quarter of 2021.

Breaking down the figures, Class A recipients generated €76,677,996 in gross revenue, while Class B recipients accounted for €190,942,870. Class A recipient gross revenue increased by 15% compared to Q1 2022 and showed a remarkable 144% increase compared to Q1 2021. Class B recipient gross revenue for Q1 2023 recorded a 24% increase compared to the corresponding quarter of 2022 and a notable 33% increase compared to Q1 2021.

Players' profits reached a total of €234.3 million, showing a significant increase of 22% compared to the corresponding period in 2022 and a notable 54% increase compared to the first quarter of 2021. It is noteworthy that Class B players accounted for the largest share of profits, amounting to €172,548,482 this quarter.

Betting receipts for Class A and B recipients amounted to €33,335,040, marking a 13% increase compared to the corresponding quarter of the previous year. Class A betting receipts reached €14,940,652, showing a 6% increase compared to the corresponding quarter of 2022. Class B betting receipts amounted to €18,394,388, representing a 19% increase compared to the first quarter of 2022.

The total number of licensed Class A properties in the first quarter of 2023 remained consistent compared to the same period last year, with a total of 489 properties. Nicosia had the highest number of licensed properties with 169, followed by Limassol with 141, Larnaca with 87, Paphos with 54, and Famagusta with 38.

Regarding license cancellations or withdrawals, a significant decrease of 63% was recorded compared to the corresponding quarter of 2022. The number of people employed in licensed premises amounted to 1,364, indicating a 1% decrease compared to the corresponding quarter of 2022.

The National Betting Authority reported a significant increase of 11% in the number of illegal websites blocked compared to the first quarter of 2022. The list of illegal betting service websites now consists of 17,831 websites, with 491 additions since the fourth quarter of 2022.

By fLEXI tEAM