Cyprus National Lottery Surplus Drops to €7.2 Million as Modernisation Tender Launched
The Cyprus national lottery reported a surplus decline to €7.2 million in 2025, down from €8.8 million the previous year, according to institute head Angelos Efthymiou. The surplus supports the state’s permanent fund and absorbs unclaimed prize money. Efthymiou highlighted a drop in revenue over recent years, prompting a government tender for a €1.23 million modernisation project to overhaul lottery operations.
The six-year consultancy contract covers assessment, implementation, and technical support phases. Bidders must demonstrate significant experience advising state lotteries and meet financial turnover criteria. The new operating model is yet to be decided, with final approval resting with the cabinet.
Lottery revenue reached €21 million in 2024 and €19 million in 2023, largely driven by scratch card sales. Prize payouts accounted for approximately half the revenue. Despite its longstanding presence since 1958, the Cyprus lottery faces stiff competition from private operator Opap, impacting its sales performance.
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