{"id":162851,"date":"2024-09-30T10:11:46","date_gmt":"2024-09-30T13:11:46","guid":{"rendered":"https:\/\/igamingbrazil.com\/uncategorized\/2024\/09\/30\/caixa-prepares-launch-of-its-betting-house-for-april-2025\/"},"modified":"2024-09-30T10:17:55","modified_gmt":"2024-09-30T13:17:55","slug":"caixa-prepares-launch-of-its-betting-house-for-april-2025","status":"publish","type":"post","link":"https:\/\/igamingbrazil.com\/en\/sports-betting-en\/2024\/09\/30\/caixa-prepares-launch-of-its-betting-house-for-april-2025\/","title":{"rendered":"Caixa prepares launch of its betting house for April 2025"},"content":{"rendered":"\n

Caixa Econ\u00f4mica Federal<\/strong> plans to enter the online betting<\/a><\/strong> market and has already applied for a federal license. The launch of its own sports betting<\/a> and online gaming platform is scheduled for April 2025.<\/p>\n\n\n\n

This decision came about taking advantage of the growing pace of this type of business and also as a way to control excessive gambling.<\/p>\n\n\n\n

Caixa and betting market regulation<\/h2>\n\n\n\n

The financial institution chose to wait for complete regulation before operating in the sector. The Ministry of Treasury<\/a><\/strong> expects to finalize the standards by the end of the year, with the main rules coming into force in January 2025.<\/p>\n\n\n\n

The ordinances that regulate the topic will come into force this week. Caixa’s initial focus will be on sports betting<\/a>, especially on football events.<\/p>\n\n\n\n

Caixa Loterias<\/a> was one of 113 companies that requested a license<\/a><\/strong> from the Ministry of Finance. In other words, only these companies will be able to operate legally in Brazil from October 1st.<\/p>\n\n\n\n

To advance in betting, Caixa Loterias<\/a> plans to select a technological partner through a competition. This partner will develop the betting platform.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

Betting directly on lotteries<\/h3>\n\n\n\n

In addition to online betting, the bank also intends to allow players to place their bets at physical points in lottery outlets<\/strong>. This traditional model will be added to the new modality, increasing reach and convenience for bettors.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

Caixa directors expect revenue from new online bets to reach around 50% of the total collected by traditional lotteries<\/strong>. As a result, annual revenues could be around R$12 billion. This expectation reflects confidence in the potential of the online betting market.<\/p>\n\n\n\n

Thus, Caixa’s objectives are:<\/p>\n\n\n\n