Caixa to begin offering sports betting this year
The sports betting platform operated by Caixa Econômica Federal is expected to start functioning in 2025. In an interview, the bank’s president Carlos Vieira stated that the service should begin operations in the second half of the year. Additionally, the launch will be accompanied by monitoring of social behaviour and an educational campaign.
In an interview with the newspaper Folha de São Paulo, Vieira also mentioned that Caixa is preparing an app to facilitate the integration of its services offered by the bank, including sports betting. According to Vieira, the company’s strategy is to invest in technology to make the public bank the “largest fintech in Brazil.”
Vieira said that the anticipated revenue from Caixa’s betting platform is expected to be approximately R$2 billion in 2025.
“Caixa has been in the gaming world since 1966. We are very cautious in creating something that is carefully scrutinized, with oversight from regulatory bodies. Last year, Caixa raised nearly R$26 billion from gaming, and 48% of that is transferred in the form of taxes.
“If we launch in the second half of this year, we expect to raise at least around R$2 billion. Next year, something around R$7 billion. If we capture our share in the betting side, we believe it should exceed R$35 billion to R$40 billion in revenue next year,” he said.
Vieira also said that there will be investment in promoting responsible gaming.
“We have responsible gaming. We will invest significantly in advertising. We have tools to monitor and verify the social behaviour of people related to this. There are games worldwide. You have to educate society to ensure they engage in what we call responsible gaming,” he said.
It is expected that the institution will be one of the major players in the sports betting market once launched. In March 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.
