Caixa Econômica Federal plans to enter the online betting market and has already applied for a federal license. The launch of its own sports betting and online gaming platform is scheduled for April 2025.
This decision came about taking advantage of the growing pace of this type of business and also as a way to control excessive gambling.
Caixa and betting market regulation
The financial institution chose to wait for complete regulation before operating in the sector. The Ministry of Treasury expects to finalize the standards by the end of the year, with the main rules coming into force in January 2025.
The ordinances that regulate the topic will come into force this week. Caixa’s initial focus will be on sports betting, especially on football events.
Caixa Loterias was one of 113 companies that requested a license from the Ministry of Finance. In other words, only these companies will be able to operate legally in Brazil from October 1st.
To advance in betting, Caixa Loterias plans to select a technological partner through a competition. This partner will develop the betting platform.
Additionally, it will provide the essential tools to calculate odds, manage bets and present event results. This strategy aims to ensure an efficient and competitive operation.
Betting directly on lotteries
In addition to online betting, the bank also intends to allow players to place their bets at physical points in lottery outlets. This traditional model will be added to the new modality, increasing reach and convenience for bettors.
So, with the exploration of lottery games, Caixa accumulated revenue of R$12.3 billion in the 1st half of this year alone. In comparison, in the same period in 2022, this value was R$10.34 billion.
Caixa directors expect revenue from new online bets to reach around 50% of the total collected by traditional lotteries. As a result, annual revenues could be around R$12 billion. This expectation reflects confidence in the potential of the online betting market.
Thus, Caixa’s objectives are:
- Diversify your income sources
- Attract a new audience to the bank
A recent study by the Central Bank showed that, between January and August, transfers via Pix to gaming houses ranged from R$18 billion to R$21 billion per month. Furthermore, the survey revealed that the majority of bettors are between 20 and 30 years old.
Interestingly, those over 50 tend to spend more. This data highlights changes in player profiles and consumption trends.
This information leads Caixa to believe that the launch of a new online betting service could attract a younger audience. For the institution, the lottery tends to attract a consumer profile over 45 years old, which minimizes competition between the two segments.
Responsibility and restriction measures for Bolsa Família beneficiaries
Concerned about the well-being of bettors, Caixa will implement control measures on its betting platforms. There will be alerts for users who spend a lot on games, as well as guidance on expenses.
Next week, the federal government is expected to announce actions to avoid debt for the most vulnerable people. One of the measures considered certain is to block the use of the Bolsa Família card on betting platforms.
Monitoring of bettors’ expenses will be carried out by the CPF, with the aim of ensuring responsibility in the use of resources.
According to the Minister of Social Development and Combating Hunger, Wellington Dias, the measures include the possibility of transferring ownership of the benefit if the person responsible uses the funds for games.
The return of scratch cards
In addition to the new betting platform, Caixa is preparing to reintroduce the popular “scratch card“, an instant lottery. Scheduled to be launched in the middle of this month, tickets can be scratched off manually at lottery outlets or virtually via an app.
The cost will be between R$2.50 and R$20, with prizes that can vary from R$2.50 to R$2 million. The offer of scratch cards was suspended in 2015, but, after review, Caixa once again obtained authorization for operation.
In this way, this will further expand its gaming and betting initiatives in Brazil. Therefore, the reopening of this model aims to diversify the options for bettors and increase the sector’s revenue.
