The House is set to vote on Thursday afternoon on the National Betting Authority (NBA) budget law of 2025.
The proposed budget aims to establish a surplus of approximately €514,000 by allocating €55,602,239 for expenditures against anticipated revenues of €56,116,486 for the fiscal year ending December 2025.
The NBA’s 2025 budget will primarily benefit from various gaming-related revenues, including a significant €19 million from betting activity taxes and €23 million from taxes on specific gambling activities.
Additionally, revenue streams such as a €3 million licensing fee, a €4.3 million OPAP Cyprus licence fee, a €5.7 million betting activity levy, and a €280,000 OPAP Cyprus supervision levy will bolster the financial framework.
Furthermore, administrative fines and other budgeted revenues are set to contribute to the projected surplus.
To add, expenditures for 2025 are poised to cover a wide range of operational costs.
These include salaries, which show a substantial variance, ranging from €91,786 to €91,78 million, thus emphasising a major allocation towards personnel expenses.
Moreover, other operational expenditures are budgeted at €1,87 million, with a noteworthy €50,2 million earmarked for income-related expenses.
The budget also earns €1 million for prevention measures under the Safe Play initiative, €695,510 for asset purchases, and €100,000 set aside for unforeseen expenditures and reserves.
During the review, the NBA chairman pointed out the authority’s commitment to rigorous regulatory compliance, evidenced by 5,181 on-site inspections of licensed premises in the previous year.
He also underlined the increase in administrative fines, which totalled €43,850 in 2023 and rose to €150,000 in 2024, reflecting a stringent enforcement environment.
Central to the budget discussions is the NBA’s focus on protecting players and the public from the negative impacts of betting.
The authority maintains high operational standards, demonstrated by its ISO27001 and ISO37001 certifications, which stresses its dedication to secure information management and ethical operational practices.
Regarding operational enhancements, the recent recruitment of seven new NAC officers aims to bolster the authority’s workforce, although the completion of the organisational chart is pending with four vacancies remaining.
Additionally, a significant software upgrade, costing €420,000, is planned to support the NBA’s digital policies.
On the social responsibility front, the NBA has established partnerships with various organisations to launch programmes aimed at protecting minors and vulnerable groups from the harmful effects of gambling.
These initiatives include operating therapeutic structures in cooperation with the Cyprus Addiction Treatment Authority and implementing the ‘Young Cities’ programme for the fourth consecutive year.
Moreover, the upcoming Safe Play Week in October, alongside ongoing educational campaigns, will promote responsible gambling practices.
As this budget proceeds to the plenary session for approval, the NBA’s comprehensive strategy aims to ensure a balanced approach to managing the growth of the betting and gaming sector while prioritising community welfare and responsible gaming across Cyprus.