Caixa Set to Launch State-Run Betting Platform in November, Targeting BRL 2.5 Billion in Revenue

Caixa President Carlos Vieira confirmed that the bank’s new betting platform will go live by late November under three authorized brands, following the official approval for Caixa Loterias Ltda to operate fixed-odds betting.

The launch represents the first time the public bank will offer sports betting and online gaming alongside its traditional lottery products. Vieira said Caixa expects the new platform to generate between BRL 2 billion and BRL 2.5 billion (around USD 710 million) in its first full year of operation. He emphasized that the project aligns with President Luiz Inácio Lula da Silva’s call for Caixa to reconnect with Brazil’s middle class, modernize its services, and expand its engagement in the digital economy.

Caixa’s move comes as Brazil continues to adapt to its newly regulated betting framework, introduced in 2023. The government hopes the framework will attract investment, increase transparency, and curb the dominance of unlicensed operators. However, a recent study found that illegal platforms still hold a larger share of the Brazilian market than regulated ones — an issue Caixa aims to address by leveraging its nationwide trust and brand recognition.

Vieira acknowledged that Caixa’s traditional lottery business has faced growing pressure amid the rapid rise of private betting operators. “It’s a new market, and Caixa is a new entrant. We want to be an important player,” he said, underscoring the bank’s ambition to reclaim ground lost to private competition.

The timing of Caixa’s entry also coincides with a recent decision by Brazil’s Congress to drop a proposal to raise the betting tax rate from 12% to 18%. Finance Minister Fernando Haddad had previously called the measure “fair but politically sensitive.” The decision eases the regulatory burden on new entrants like Caixa and could make the state bank’s debut more competitive in Brazil’s fast-growing betting landscape.