In a bold move that’s shaking up Brazil’s gaming scene, Caixa Econômica Federal is entering the sports betting market, targeting R$2 billion in 2025, with projections soaring to R$7 billion in 2026 and R$18 billion within two years.
Caixa’s betting platform—set to launch within its all-in-one super-app—will blend fintech with jogo legal. Already used for banking, lotteries, and social programs like Bolsa Família, the app will now feature a full betting hub. The rollout will also leverage over 3,000 lottery outlets across the country for cash-based and assisted betting.
This strategic entry follows Law 14.790/2023, which officially regulates fixed-odds betting in Brazil. Caixa secured preliminary approval from the Ministry of Finance in 2024 and is finalizing its platform with a focus on responsible gambling.
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Despite pushback from President Lula da Silva, who warned of betting as a “social illness,” Caixa’s leadership insists that their model will be socially conscious. Features will include deposit limits, loss tracking, behavioral alerts, and a user-facing education campaign called Jogo Consciente.
Industry experts predict Brazil’s regulated betting market could hit R$40 billion in total volume annually. Caixa’s entry is expected to be a game-changer, especially as private operators face steep licensing fees (R$30 million) and a 12% GGR tax.
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Still, critics—including consumer advocacy groups—warn that betting apps tied to public banks could fuel indebtedness among lower-income players, a concern already under scrutiny by Brazil’s congressional CPI on Gambling. Caixa’s final approval is expected later this year. If greenlit, Brazil’s most trusted financial institution could also become its largest legal bookmaker by early 2026.
