Brazil: Caixa Loterias granted five-year licence to operate state-owned betting platform
The Federal Government has officially authorised Caixa to launch its fixed-odds betting operation, under three brands in both retail and online formats.
Key points:
– Caixa Loterias has been authorised to operate under BetCaixa, Megabet and Xbet Caixa until 2029
– Operations will include both retail and online platforms for fixed-odds betting and online gaming
Brazil’s Ministry of Finance has granted a fixed-odds betting licence to Caixa Loterias, the state-owned lottery subsidiary of Caixa Econômica Federal, through a new ordinance published by the Secretary of Prizes and Bets (SPA).
The authorisation is valid until the end of 2029 and covers both physical and virtual operations in the sports betting and online games segments.
The newly authorised brands, BetCaixa, Megabet and Xbet Caixa, will mark the Government’s direct participation in Brazil’s betting market.
Caixa is one of Brazil’s largest public banks and an arm of the federal government, known for managing social programmes, public lotteries and housing credit.
Even though the SPA has recently approved different operators, including Caixa, Finance Minister Fernando Haddad recently stated that online betting “should never have been allowed” in the country.
Good to know: The Brazilian Senate has postponed a vote on the legalisation of land-based betting, including casinos, bingo and jogo do bicho
Through its lottery subsidiary, Caixa Loterias, the institution also holds a monopoly on state-run games, making it one of the most influential players in Brazil’s gambling sector.
As a public betting entity, Caixa is expected to compete alongside private operators, some of which are currently forming a new betting union in São Paulo to represent industry interests.
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