Caixa Econômica Federal maintains its plans to create a sports betting operator, despite recent criticism of the sector. Firstly, the bank awaits the publication of the list of companies authorized by the Ministry of Treasury, scheduled for November 18th. It then plans to launch its product in the first half of 2025.
Lucíola Vasconcelos, CEO of Caixa Loterias, explains that qualified companies will have a period of 30 days to prove the required capital of R$30 million. Furthermore, she states that Caixa already meets all the requirements and has delivered the necessary documentation.
However, Caixa’s project faces questions. On the one hand, recent data point to possible negative impacts on the low-income population, including increased debt. On the other hand, there are concerns about possible effects on bank defaults.
Caixa will continue to encourage responsible betting
Despite these issues, Caixa maintains its position. Lucíola highlights that the company has level 3 certification from the WLA (World Lottery Organization), guaranteeing responsible gaming.
The executive emphasizes: “We are certified at level 3 of the WLA, which is the world lottery organization, which ensures responsible gambling. We already have this concern with gambling, and in the case of bet we will not do anything less, if If we do something, it will be more.
We will follow all applicable legislation, we are government public policy partners. We will do everything we need to do to guarantee bettor safety, combat money laundering and promote responsible gambling.”
Asked about the potential restrictions on Bolsa Família participants in betting, and rumors about a possible request from the Federal Public Ministry to completely block all sports betting operators, Lucíola Vasconcelos only reiterated Caixa‘s commitment to fully comply with current legislation.
New Caixa scratch card
Caixa Econômica Federal launched the new Instantaneous scratch card, with prizes from R$2.50 to R$2 million last Monday (14). Sales start on November 2nd.
Part of the proceeds will be allocated to social projects, such as culture, security, sport and social security. Furthermore, the scratch card promises a high chance of winning, with one in every three tickets winning. The tickets have different themes, attracting different audiences.
