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State Lottery Surplus Falls To €7.2 Million As Cyprus Moves To Modernize The Institution

by THEFUTURE.TEAM

September 21, 2026

The State Lottery in Cyprus generated a surplus of €7.2 million in 2025, down from €8.8 million in 2024, underscoring a steady erosion in revenues that officials say makes modernization increasingly urgent.

Revenue Decline Raises Pressure For Reform

Total receipts fell to €19 million in 2025 from €21 million the previous year, according to Angelos Evthymiou, head of the Republic’s State Lottery, speaking to the Cyprus News Agency.

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Evthymiou said the decline in recent years has made it necessary to upgrade the institution and adapt it to current market conditions. The General Accounting Office has already launched a relevant tender, which is now under way.

Tender Launched To Support The Overhaul

According to a Ministry of Finance announcement in early August, the estimated value of the contract stands at €1.23 million excluding VAT. The tender seeks the services of an experienced independent consultant who will support the modernization of the State Lottery.

Revenues Run At €12 Million Through August

Looking at the current year, Evthymiou said revenues are tracking at roughly the same level as in 2025. By the end of August, they had reached approximately €12 million.

Scratch cards remain the main revenue driver, accounting for 98% of total inflows. The remaining 2% comes from the State Lottery draws.

Payouts Remain High

Prizes paid out amounted to about €10 million in 2024 and €9 million in 2025. Evthymiou said the redemption rate exceeds 99%, with all major cash prizes already claimed by winners.

Prizes account for roughly 50% of revenue, while the share of winning tickets is similarly reflected on the reverse side of each ticket.

Surplus Flowing Back To The State

The head of the State Lottery clarified that surpluses are transferred to the Republic’s Consolidated Fund, alongside any prize money that remains unclaimed.

The State Lottery website publishes the tickets currently in circulation, as well as the prize amounts and winning probabilities for each game.

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Cyprus Business Electricity Prices Rank Among The EU’s Highest

by THEFUTURE.TEAM

November 6, 2026

Electricity prices for a defined group of non-household consumers in Cyprus reached €0.23 per kilowatt-hour in the first half of 2026, placing the country among the most expensive in the EU, according to Eurostat.

The rate matched Italy and exceeded the EU average of €0.18. Ireland recorded the highest price at €0.27 per kilowatt-hour.

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The figures cover non-household consumers with annual electricity consumption of between 500 and 2,000 megawatt-hours, rather than all businesses or households.

EU Electricity Prices Continued To Fall

Across the EU, average prices for this consumer group declined by 2% compared with the second half of 2025 and were 5.4% lower year on year.

The lowest rates were recorded in Finland (€0.09 per kWh) and Sweden (€0.12), followed by Denmark, Spain and Portugal, all at €0.13.

Prices Fell In Most Member States

Electricity prices declined year on year in 19 EU countries during the first half of 2026. Luxembourg recorded the largest fall, at 23.8%, followed by Czechia (11.9%) and Greece (11.8%).

Prices increased in eight member states, led by Sweden (18.8%), Finland (18.7%) and Bulgaria (14.2%). Despite the sharp increases, Finland and Sweden continued to have the lowest electricity prices in the bloc.