MAR 15 DE OCTUBRE DE 2024 - 13:18hs.
State bank awaits final list from Finance

Caixa Econômica Federal advances in the creation of its own ‘Bet’

Caixa Econômica Federal (CEF) is determined to move forward with the creation of its own sports betting house. The bank awaits the release, scheduled for November 18, of the list of authorized ‘Bets’ – as operators are called in Brazil - by the Ministry of Finance. The launch is scheduled for the first half of 2025. Lucíola Vasconcelos, CEO of Caixa Loterias, informed that the companies that are licensed will have a period of 30 days to prove a minimum capital of R$ 30 million (US$ 5.35m).

Vasconcelos emphasized that Caixa meets all the necessary requirements and that the project will move forward, despite the concerns raised about the possible effects on low-income communities.

The CEO also highlighted that Caixa has level 3 certification from the World Lottery Association (WLA), which demonstrates its commitment to responsible gaming practices. She assured that the institution will strictly follow all legislation pertinent to the betting sector.

Amid the debate over the possibility of banning Bolsa Família beneficiaries from participating in bets, the CEO reaffirmed that Caixa is committed to respecting all the rules that are approved.

On Monday (14), the state-owned bank took an important step to strengthen its presence in the lottery market by launching Instantânea, a modality that Caixa operated until 2015. Tickets will go on sale starting November 2 and will cost between R$2.50 and R$20 (US$ 0.45 to US$ 3.57). 

Source: GMB