Cyprus expects 53 million euros in tax revenue from betting sector in 2027

The Republic of Cyprus anticipates state revenues from the betting industry to reach €53 million in 2027, driven by a consistent increase in both online and retail betting activity. According to the National Betting Authority's 2027 budget, this total includes €21 million in taxes derived from a 10% levy on net earnings from Class A (retail) and Class B (online) betting operators. Additionally, €32 million is expected from tax contributions based on a new agreement between the authority and OPAP Cyprus (Allwyn).

This growth in revenue reflects an upward trend in the local market observed over the last three years. The National Betting Authority recently finalized the new contract with OPAP as part of a strategic initiative to stabilize and optimize financial oversight of the sector. The development follows a detailed review of current financial gains in the industry, which has shown significant economic development and increased public participation in recent years. The government continues to monitor these revenues closely as betting services become a more substantial contributor to the national budget.