In recent days, there has been much discussion about the launch of Caixa’s own ‘Bet’ and the role of Caixa Loterias in the sports betting and online gaming sector. Criticism has ranged from alleged contradictions with the bank’s social mission to concerns about unfair competition in the private market.
It’s true that the initial reception was marked by backlash on social media: surveys indicated more than 80% negative comments. But precisely for that reason, context matters; the entry of Caixa’s own ‘Bet’ is not a Brazilian anomaly. It’s part of a global movement to bring gaming into a legal, safe, and regulated environment.
The world has already gone down this path. Brazil is late to the game.
1. BCLC (Canada) – Operates PlayNow. Over 80% of the province’s online GGR.
2. Loto-Québec (Canada) – Over CAD$400 million/year in casino, betting, and poker.
3. Danske Spil (Denmark) – State-owned. 62% of digital GGR.
4. OPAP (Greece) – Former state company, now listed. Strong digital presence.
5. Veikkaus (Finland) – Unified lottery, casino, and betting. €1.1 billion GGR in 2023.
6. Norsk Tipping (Norway) – State monopoly. Maintains leadership despite foreign competition.
7. Sisal (Italy) – Former lottery operator sold to Flutter for €1.9 billion.
8. Camelot/Allwyn (UK) – 30 years operating the national lottery. Expanded digitally.
9. ONCE (Spain) – Digital innovation aligned with social impact.
10. Tabcorp (Australia) – Former state company, now listed. 43% of the digital market.
These operators show that combining public lotteries with iGaming operations is not only viable but effective in protecting consumers, reclaiming GGR that currently flows to illegal operators, and funding public policies.
In Brazil, Caixa Loterias is a company distinct from CAIXA, with its own governance. It is the entity that received the license from the Secretariat of Prizes and Betting (SPA) under the Ministry of Finance. The legal model mirrors that of dozens of state or former state operators worldwide.
What matters is how it will be executed:
- With responsibility and player protection?
- With clear governance and public goals?
- With operational separation from the bank?
- With compliance and regulatory fairness?
If the answer is “yes,” Caixa’s ‘Bet’ focus will be combating the illegal market. Today, roughly R$20 billion (US$3.7bn) per year in GGR escapes state control — strengthening those who don’t pay taxes or protect consumers. Legalizing, structuring, and supervising the market is the only way to reverse this flow.
In the U.S., 37 of 50 states have already regulated iGaming. The Oregon Lottery operated betting through Scoreboard, later replaced by DraftKings under the Lottery’s oversight. In Rhode Island and New Hampshire, DraftKings also operates under state lottery contracts. The DC Lottery does the same through GambetDC.
The trend is clear: state and former state operators are leading the digitalization of gaming worldwide. Brazil is simply arriving last — and not by accident.
Leonardo Sampaio
CEO – Todos Querem Jogar (TQJ), Grupo Sílvio Santos
