The Brazilian federal government has officially granted a five-year gambling license to Caixa Econômica Federal's subsidiary Caixa Loterias, allowing it to engage in fixed-odds betting in the fields of sports betting and online gaming, marking the government's first full involvement in the industry as an operator.
According to a new decree issued by the Prize and Betting Department (SPA) under the Ministry of Finance, Caixa Loterias will be able to offer retail and online gambling services through three brands, BetCaixa, Megabet, and Xbet Caixa, until the end of 2029. This authorization covers both physical stores and online platforms, encompassing fixed-odds betting and online gambling content.
As Brazil's largest state-owned financial institution, Caixa Bank has always been responsible for managing government social programs, housing loans, and the national lottery. Now, its expansion into the gambling market is seen as an important move by the government to directly participate in and regulate the industry.
Although the Ministry of Finance has recently issued operating qualifications to several companies, Minister of Finance Fernando Haddad previously stated: "This country should not allow online gambling at all." This contradictory statement has attracted market attention.
It is worth noting that the Brazilian Senate recently decided to postpone the vote on the legalization of physical gambling (including casinos, bingo, and gambling games), leaving more room for adjustment in the entire gambling industry policy framework.
As the only entity currently holding a state-operated gambling license, Caixa Loterias will become one of the most significant competitors in the market, directly competing with private gambling companies forming an industry alliance in São Paulo. This situation indicates that the Brazilian gambling industry will enter a new phase where government and private enterprises coexist.
