Caixa poised to operate online sports betting as lottery revenue grows in Brazil
The president of Caixa Econômica Federal, Carlos Vieira, stated, that the bank will operate in the online sports betting market with the same governance it applies to lotteries, a market in which it has been involved since the 1960s. “We will enter this market in a calm and conscious manner, with the same governance that we use for lotteries,” Viera said at a press conference regarding the bank’s results for 2024.
Caixa released its consolidated financial results for the year 2024 with information related to the 4th quarter and last year. The bank’s latest results showed a significant improvement especially when it comes to the lottery sector. In the fourth quarter of 2024, the revenue from lotteries was R$ 7.8 billion, reflecting a 7.3% increase compared to the same period last year. During this time, the total net prizes awarded to bettors reached R$ 2.7 billion. Overall, the total revenue for 2024 amounted to R$ 25.9 billion, which is 10.6% higher than the revenue in 2023.
Of this total, R$ 10.0 billion—equivalent to 38.8% of the total collected—was allocated to federal government social programs. These programs focus on areas such as social security, sports, culture, public safety, education, and health.
A significant highlight in Q4 2024 was the launch of the Exclusive Instant Lottery (Lotex). New rules give Caixa the right to issue instants for a period of 24 months including online instants after President Lula signed a decree that regulated Lotex in August 2023. Instants will be tendered after this period but Caixa will be able to operate Lotex until the start of operations by the winning bidder.
