The bank had its licence application approved in July by the Secretariat of Prizes and Betting (SPA) of the Ministry of Finance, authorising three brands: BetCaixa, MegaBet and Xbet Caixa. The state-owned lender is licensed to operate sports betting and online gaming in both physical and digital formats through 2029.
Even prior to the authorisation, Carlos Vieira announced that the bank would launch its 'Bet' operations in the second half of the year.
“The expectation is the second half. Caixa has been in the gaming world since 1966. We are taking every care to do this in a proper manner, under oversight from control bodies. Last year the bank collected nearly R$ 26 billion (US$4,8bn) in gaming revenue and 48% of that is transferred in the form of taxes,” he recalled.
“If we launch in this second semester, we have a target of at least R$ 2 billion (US$370m). Next year, something around R$ 7 billion (US$1.30bn). If we look at our share in 'Bets', we believe it should surpass R$ 35 billion-R$ 40 billion (US$6.45bn - US$7.40bn) in total revenue next year,” he projected.
Caixa has signed a turnkey contract with global leader Playtech to supply its award-winning platform. In a recent results meeting, Playtech CEO Mor Weizer stated the company had secured a deal with one of Brazil’s top operators (not naming Caixa explicitly) and labelled it a “very significant” opportunity given the operator’s access to the market.
A new contender with ambition
According to Carlos Vieira, the initiative is a strategic move by the institution to diversify its revenue sources. The bank estimates the new venture can generate between R$ 2 billion and R$ 2.5 billion (US$370m–US$465m) in income in 2026.
The platform’s launch will mark a major moment for Brazil’s betting market, especially given the entry of a federal state-owned institution with the scale and reputation of Caixa—potentially reinforcing the legitimacy of the regulated sector and shifting the competitive balance between private operators.
Caixa is already advancing its plan to use its nearly 15,000 lottery outlets across Brazil to offer sports betting.
“There is a propensity for people to bet more when the prize is accumulating, and we haven’t had big accumulating jackpots this year. Regarding the 'Bet', we’re ready to launch now at the end of November. It’s a new market, and Caixa is a new entrant. We want to be an important player. The revenue estimate is between R$ 2 billion and R$ 2.5 billion (US$370m – US$465m) for next year,” the President told O Globo.
Source: GMB
