The announcement was made during the presentation of the state-owned company's financial statements for the second quarter of this year.
Despite expanding the operations of its ‘Bet’ in lottery outlets, CEO Lucíola Aor Vasconcelos explains that bets on current games will not be “cannibalized.”
“Today, the lottery audience is over 45 years old and the global betting audience is under 35 years old. So that's what we're looking for, to attract an audience that we don't have,” she said.
In mid-June, the executive had already commented on the bank's intention to operate in with its own ‘Bet’ and to expand the types of games offered in lottery outlets, such as “raspadinha” (scratch cards).
“Today, we have 13,300 physical points, but [Caixa's ‘Bet’] will not be focused on that. We will operate like any other betting market, we will be compatible and competitive,” she pointed out.
According to Lucíola, the bank also intends to expand its operations with women who, she says, do not participate as much in games as they would like.
Caixa is one of the 108 companies that have submitted requests for authorization to the government to operate in the regulated online betting market, which will bar companies from operating outside the regulation as of January 1, 2025.
The executive also stated that the bank's range of ‘Bet’ options can be expanded beyond sports betting, including electronic games: “Everything possible is being studied. It doesn't mean that we will operate. But we haven't closed the door on anything.”
“The bank will certainly be one of the main players in this segment. Caixa understands that Lotteries have room to grow,” said the bank's president, Carlos Vieira.
If the operation is completed, the bank is expected to see a surge in revenue from gaming.
Last year, Caixa lotteries earned R$23.4 billion (US$ 4.25bn), of which R$9.2 billion (US$ 1.7bn) -39.2% of the total- went to federal government programs in the areas of social security, sports, culture, public safety, education and health.
According to the Ministry of Finance, 108 companies submitted requests for authorization within the preferential period that ended last Tuesday (20).
A total of 113 requests for authorization to operate betting sites in Brazil were received, and it is estimated that around 220 could be created, since each company can offer up to three brands depending on the commercial option of each.
If all authorizations comply with the rules established in the regulations, the Ministry of Finance estimates that it could raise around R$3.4 billion (US$ 620m) from the grants this year alone.
The requests will be analyzed within 180 days, but other companies may request authorization outside the preferential period until the end of the year.
Source: GMB
