Gaming Guide - Gambling in Europe by Nicolae Sfetcu

Author:Nicolae Sfetcu [Sfetcu, Nicolae]
Language: eng
Format: azw3
Tags: Europe, gaming, guide, gambling
Publisher: Nicolae Sfetcu
Published: 2016-11-11T05:00:00+00:00

GAMING SECTOR ANALYSIS

Lotteries

The National Lottery, established in 1958, is the main gambling media in South Cyprus. The Government of Cyprus operate Weekly Lotteries, Special Lotteries and Scratch tickets.

There are 21 people employed full-time in the Cyprus Government Lottery. The lottery tickets are sold in bulk to registered agents with 10% discount. These agents then distribute them through street vendors, kiosks etc. There are over 40 agents in Cyprus, who employ approximately 450 sub-agents, making the total number of people employed in distribution approximately 490.

The gross profit for the Government over the four year period was C£55,419,755 (€96,650,362) or about 48%. Scratch tickets were sale leaders totalling C£132,459,935 (€230,990,506) out of overall sales of C£115,722,948 (€201,800,958) or 87%. Counteracting the decline experienced in lottery sales in 2000 was mainly attributed to the installation of 150 terminals and a Regional Data Collection Centre on the island that is directly connected with the National Data Processing Centre located in Athens. Even though the Cypriot Lottery is connected and participates in the Greek State Lottery (OPAP-Greek Organisation of Football prognostics) and it remains financially independent, the Cypriot Government believed that the direct involvement of the successful mainland lottery would be good for sales. A comprehensive software package ensures that even though the players in Greece and Cyprus share the winnings, the prizes are paid out in different currencies and with no money transfers between the countries.

During August 2003 the Cyprus Government Lottery awarded Creative Games International a two-year contract to supply 94 million instant lottery tickets.

There are no VAT or gambling specific taxes levied on operations of the Cyprus Government Lottery or OPAP. The annual license fee is CYP£1.00 (€1.74) paid by street vendors in order to have the right to sell lottery tickets. The duration of this license is one year. OPAP or its agents pay no license fees.

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