State-owned bank Caixa Loterias has been granted a five-year license, as the Brazilian government officially enters the sports and online betting market.

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

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