The global gambling industry continues to soar, and a story out of Cyprus is just the latest indication of how massive its potential is. The Republic of Cyprus set a new record for gambling revenues in 2023, with a dramatic increase in profits that attracted notice from industry insiders across the globe. For bookies using Pay Per Head (PPH) software, this is the bottom line: it’s time to get big and view the entire world as your market! There are opportunities everywhere—you just need to be savvy in finding them and have the right PPH provider to assist you in running and growing your business.
Cyprus: The Biggest Betting Market Ever?
Cyprus is likely not the first place you think of when considering betting markets, but the figures do not lie. The country’s betting sector has exploded in a handful of years, accounting for over €1 billion ($1.1 billion) in revenue in 2023, a whopping 79% increase from 2020. It is a significant pillar of the Cypriot economy, accounting for 3.72% of GDP for the country.
What is behind this breakneck expansion? The most popular sport for betting remains football, both for retail and online betting services, followed by basketball and tennis. Notably, e-sports betting has also joined the mix, contributing to the rapid increase in revenue. As betting revenue rises every year, Cyprus has shown that even among smaller markets, big things are possible.
This is the message here for the PPH bookie. Cyprus has proven that a well-thought-out strategic policy regarding the betting industry, focusing on popular sports and growing trends such as e-sports, can yield impressive results. For us in the PPH business, it is a reminder that the opportunities are not only found in your traditional markets such as the US and the UK. Successful betting markets exist across the globe, and how to partner with the right group to run your operation is just about the only thing that matters — and why it can be so difficult to create partnership agreements in the first place.
Think Global, Act Local: Pay Per Head the New Way to Go
Cyprus Growth: Lessons for Pay Per Head Bookies. For starters, it is critical to aim high. There are so many betting markets around the world and with the right PPH system, bookies can start nibbling up and down borders left and right. PPH platforms are so flexible that now, bookies can accept bets from anywhere, no matter what’s in the limits of the market.
But going global means more than just opening a betting site in a couple of countries. It’s all about knowing local trends and what people like to bet on.” Elsewhere, in Cyprus, football is still king in the betting world and e-sports are gaining ground. And a successful bookie in this market is going to have to have options that cater to these interests, and this is where a good Pay Per Head partner can help. Loaded with personalization options, live data, and a user-friendly design, PPH platforms allow local bookies to stay ahead of the local scene and present their clients with exactly what they are looking for.
Furthermore, PPH services are able to offer a lot more than just a place to take a bet. They offer bookies the tech needed to run their entire business, start to finish, from setting odds to taking bets to disbursement to accounting to customer support. This removes an incredible burden from the bookies, who can now concentrate on growing and satisfying their customer base. By choosing the perfect PPH partner, even small bookies can take advantage of this opportunity and become international bookmakers in Cyprus or other profitable world markets.
