Loterias CAIXA is an important source of resources to foster social development in Brazil.
In 9M24, R$18.2 billion (US$3.15bn) was collected, 12.0% more than in the same period of the previous year, of which R$7.1 billion (US$1.25bn) was allocated to the Federal Government's social programs, in addition to being returned to society through income tax payments, 10.8% more than in 9M23. In terms of net prizes, R$6.3 billion (US$1.1bn) was paid to bettors in the period.
Considering that throughout 2023, CAIXA Lotteries reached a sales volume of R$23.4 billion (US$4.05bn), the figures show that the final result for 2024 may be close to last year's values, which shows that the state-owned bank needs to review its business model, especially considering the increase in betting prices.
The results now released show that even with the growth in Brazilian income and the population's greater interest in games and betting, Caixa is not managing to move forward with its lottery business.
This year, the Board of Directors of the state-owned bank approved the restructuring of the lottery business, transferring the management of all products to Loterias CAIXA, already eyeing the sports betting and online gaming market, which should begin operating in the first half of 2025.
This shows the state's slowness, especially considering that the sports betting and online gaming sector already has authorization to operate provisionally until the beginning of 2025, while Caixa has not yet structured its business model for the vertical.
In addition, the relaunch of Lotex was approved this year, but the process took time for Caixa to present the new federal scratch card to the market. Only now in November did the state-owned bank present the modality to the market.
Source: GMB
