Betting activity in 2022 went up by 22 per cent compared to the previous year, coming to €959 million, the head of the National Betting Authority told MPs on Monday. Ioanna Fiakkou was in parliament to review with legislators the authority’s budget for fiscal year 2023.

Last year the €959 million wagered at licensed betting shops island-wide corresponded to 3.55 per cent of GDP, Fiakkou said. By comparison, in 2016 these bets amounted to 0.99 per cent of GDP.

In 2022 the return of winnings to players came to €843.42 million.

The state meanwhile collected taxes worth €11.75 million. Of this amount, 2 per cent would be given to the Cyprus Sports Organisation, and €3.525 million to the various sports federations and the Cyprus Football Association.