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The e-bet took over

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The e-bet took over

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Significant increase was recorded in betting revenue in the second quarter of 2021 (April – June 2021), according to the financial results of the National Betting Authority, which are published quarterly.

The gross income of the accepted Class A (land bet) and B (online bet) amounted to € 190,560,298, recording an increase of 9% compared to the previous quarter, when it had reached € 174,534,349. Compared to the corresponding period of 2020, betting revenues recorded an impressive increase of 114%, while compared to the corresponding period of 2019, they increased by 8%. Of the total income of Class A and B recipients, € 46,333,305 relates to Class A recipients and € 144,226,993 to Class B recipients, confirming the players' propensity for online betting.

The profits of the Class A and B players during the second quarter of 2021 also increased, reaching € 166,280,879, recording an increase of 113% compared to the corresponding quarter of 2020 and an increase of 5% compared to the corresponding quarter of 2019. The largest share of the winnings and more specifically the amount of € 129,366,220 concerned the Class B players.

Class A and B betting earnings followed an upward trend during the period under review, as they recorded a significant increase of 123% compared to the corresponding quarter of 2020, and amounted to € 24,279,419. In terms of betting earnings compared to the corresponding quarter of 2019, there was an increase of 29%. An increase in betting earnings was also recorded compared to the previous quarter of 2021, of the order of 6%.

Regarding the total number of Class A premises in Cyprus, it decreased by 5%, compared to the corresponding quarter of the previous year. In particular, the licensed premises amounted to 498 nationwide, with Nicosia retaining the lead (171 premises), followed by Limassol with 148 premises, Larnaca with 88, Paphos with 53 and Famagusta with 38 premises. In the period under review, the employees in the licensed premises amounted to 1276, recording a slight decrease of 1% compared to the corresponding period of the previous year.

It is worth noting that the number of blocked websites increased by 4%, compared to the first quarter of 2021, with the addition of another 510 illegal websites. In particular, the blocking list in the second quarter of 2021 included a total of 14,891 websites, recording an increase of 19% compared to the corresponding quarter of 2020.

In a statement, the President of the Authority, Ms. Ioanna Fiakkou, said that the financial results of the second quarter of 2021 confirm that the market is returning to normal conditions and rapid recovery: economic indicators, the market seems to have returned to normal levels and rapid growth and recovery. The resumption of national championships around the world, as well as the holding of top sporting events such as EURO2020 and the Olympic Games, played a decisive role in this direction “.

As Mrs. Fiakkou pointed out, the comparison of the results of the second quarter of 2021 with the corresponding quarter of 2020 certifies that a remarkable growth course is recorded. “It is a fact that the betting sector has been recording significant growth since 2016, having today become an important pillar of economic growth. Indicatively to mention that, nationally the percentage of revenues from betting activity in 2016 amounted to 0.99% of GDP, in 2019 recorded a significant increase of 3.44% and in 2020, despite the contraction of GDP due to the global health crisis by 6.5 %, the percentage of betting revenues on GDP amounted to 2.98%. “The sustainable development of the sector remains a priority of the National Betting Authority, while our commitment to protecting players, vulnerable teams and the general population is non-negotiable.”

You can find detailed financial results and statistics on the Authority's website at https://nba.gov.cy/i-archi/oikonomika-apotelesmata-posotika-stoicheia/

Source: www.philenews.com

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