Caixa Econômica Federal plans to collect R$7 billion ($1.2 billion) in revenue from online gambling next year. The forecast follows Caixa’s announcement earlier this year that it would enter Brazil’s regulated sports betting and iCasino markets, which will go live in January.
Caixa had first determined that it would not need to compete in this industry because the lottery already has a captive audience in Brazil. However, after seeing the enormous potential of the sports betting vertical, valued at an estimated R$19 billion ($3.2 billion), the bank amended its strategy and plans to build its own platform in H1 2025.
According to an iGaming Brazil report, Caixa’s administration plans to focus on sports betting first. These offers will be gradually expanded when preliminary testing shows potential.
The sector is expected to explode starting in January, as the government plans to regulate online games. The bank believes that regulation will encourage sector consolidation, as well as a more competitive environment, as larger firms buy smaller enterprises or form strategic alliances.
See also:
- Brazilian DJ artist Alok will headline the INFINITY Rio party during SBC Summit Rio 2025
- Delasport prepares for Brazilian growth.
- Better Collective Reduces Team Due to Business Struggles
This new market phase is projected to allow Brazil to raise its betting revenue, putting it closer to the levels of activity seen in nations such as Australia and Canada, where the sector produces approximately $5.1 billion per year.
Caixa’s entry into the online vertical is expected during the first half of 2025. The list of enterprises authorized by the Ministry of Treasury is scheduled to be revealed on November 18th.
Caixa Loterias CEO, Lucíola Vasconcelos, confirmed that the company has provided all essential papers, including evidence of capital of R$30 million ($5.1 billion).
Join us on all our social channels and groups
Gameongazette is present on:
