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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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 bill on Brazilian physical casinos and bingo games is once again shelved, regulatory deadlock may cause the market to miss opportunities.

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