Caixa Loterias Requests Authorization to Operate in the Sports Betting Market

On Tuesday (08/20), Caixa Loterias requested authorization from the Ministry of Finance to enter the sports betting market, also known as “bets.” The request was made on the last day of the deadline for acquiring preferential grants to operate in this segment, among 113 requests received by the Ministry of Finance.

In an official statement, Caixa reported that it intends to offer fixed-odds sports betting, which involves bets on the outcomes of sporting events. “Caixa informs that, as a relevant player in the lottery market in Brazil, it is continuously developing new gaming products and businesses,” the bank stated. The institution confirmed that it had submitted all the documentation required by current regulations.

Caixa Loterias was created as a subsidiary of Caixa Econômica Federal to manage lotteries, including traditional bets such as Mega-Sena. The creation of the company aims to increase competitiveness against the “bets” market, which has been growing rapidly since its regulation in 2022.

Although Caixa holds the constitutional monopoly on lotteries in Brazil, the creation of Caixa Loterias in 2015 and the transfer of the management of these services to the subsidiary, approved in April this year, aim to modernize the sector, expand the gaming market, and diversify the products offered.

Despite the approval, there were protests from bank employee associations fearing that the move could pave the way for privatization. Caixa responded that any decision on privatization rests with Congress, regardless of who is in charge of the operation.

In addition to betting, lottery outlets represent a crucial part of Caixa's service network. In December 2023, 13.3 thousand units were in operation. In the first quarter of this year, lottery collections amounted to R$6.1 billion, an increase of 22% compared to the same period last year, with R$2 billion paid out in prizes.