Caixa Econômica Federal made the decision to enter the sports betting and online gaming market after initially assessing that it would not need to compete with this sector, given that the lottery already has a captive audience in Brazil.
However, upon seeing the lucrative potential of sports betting, the bank revised its strategy and plans to launch its own platform, with the expectation of generating revenue of R$7 billion next year. The current estimated value of this market is R$19 billion.
According to Caixa‘s management, the initial focus will be on sports betting. These offerings will be gradually expanded as preliminary testing demonstrates viability.
The expectation is that a transformation in the market will take place from January, when the bank awaits the regulation of online games by the government.
Caixa betting
The bank predicts that regulation will drive consolidation in the sector. Larger groups will be able to buy smaller companies or enter into strategic partnerships, creating a more robust competitive environment.
This new phase of the market will allow Brazil to increase its revenue from betting. Thus, placing itself at a level closer to that of countries such as Australia and Canada, where the sector generates around R$30 billion per year. On a global stage, China and the United States lead with an impressive R$275 billion.
Launch of Caixa bet and responsible gaming
The launch is scheduled for the first half of 2025. The list of companies authorized by the Ministry of Treasury is expected to be released on November 18th.
Lucíola Vasconcelos, CEO of Caixa Loterias, states that Caixa already meets all the requirements and has submitted the necessary documentation, including proof of the required capital of R$30 million.
Despite concerns about the impact of betting on the low-income population, such as increased debt and defaults, Caixa reinforces its commitment to responsible gambling.
The company has level 3 certification from the WLA (World Lottery Organization), guaranteeing responsible practices. Lucíola Vasconcelos emphasizes that Caixa will follow all legislation to protect bettors and combat money laundering. Thus, highlighting its role as a partner in government public policies.
In relation to possible restrictions on Bolsa Família participants and rumors of complete blockades by the Federal Public Ministry, Caixa reaffirms its commitment to fully comply with current legislation.
