Lotex's revenue reaches only 4% of its target in the first 6 months.
Exclusive – The Exclusive Instant Lottery (Lotex), operated by Caixa Loterias, raised only R$ 120,1 million in its first six months of operation. This amount represents 4% of the target set by the federal government of R$ 3 billion over the 24-month contract, which began in July 2024. The exclusivity period begins with the first issuance of lottery tickets in physical or digital format. The operation has been facing problems over the past 12 months, with revenue falling short of government expectations.
The return of the "scratch-off" lottery to the Brazilian market was made possible by regulatory changes that began in August 2023, when a presidential decree altered the rules for this lottery modality. In December of that same year, the Ministry of Finance authorized Caixa Econômica Federal to directly operate Lotex for a transitional period of two years, through MF Ordinance 1.646/2023.
The subsidiary Caixa Loterias became responsible for the operation, contracting the LTX Brasil Consortium, formed by the Chinese operators Genlot Game Technology and BZP-Beijing Zhongcai Printing Co. The contract is valid from July 15, 2024, with a planned duration of 24 months. This partnership arose after a Lotex concession process that dragged on for more than five years without a satisfactory outcome, leading the government to opt for direct operation.
In November 2024, Caixa Loterias officially launched Lotex with five different themes: Clover of Luck and Only Gold (both at R$ 2,50), Wheel of Fortune (R$ 5,00), Treasure Hunt (R$ 10,00) and VIP (R$ 20,00). Prizes range from R$ 2,50 to R$ 2 million, with the possibility of immediate redemption for amounts up to R$ 2.259,00 at lottery outlets. The launch was a grand affair, including the presence of the President of Caixa at the meeting with the lottery network, generating great expectation among lottery business owners who had been clamoring for new products for years.
The distribution of revenue follows specific rules determined by law. Of the total collected, 65% is allocated to prize payments and income tax collection, while 18,3% covers operational expenses. The National Public Security Fund receives 13%, with smaller percentages directed to social security (0,4%), the Ministry of Sports (0,9%), and the National Culture Fund (0,9%).
In December 2024, the first conflicts arose in the operation. Caixa Loterias established minimum and maximum ticket quotas for lottery outlets, a measure that was challenged by the Brazilian Federation of Lottery Companies (FEBRALOT). The federation argued that the decision contradicted previous agreements between the parties, which resulted in Caixa revoking the measure.
Tickets for all themes showed low sales in the following months. The situation was particularly critical for the higher-value tickets: Treasure Hunt (R$ 10,00) and VIP (R$ 20,00), which accumulated in lottery outlets and had to be collected by Caixa, generating losses for the operation.
Amilton Noble, an expert in instant lotteries and CEO of Hebara Produtos Lotéricos, had anticipated these problems in November 2024, through an article published on BNLData entitled ' Lotex: a chicken flight! '. His analysis pointed out fundamental flaws in the prize plan implemented by Caixa Loterias.
According to the expert, in the specific case of the Treasure Hunt ticket (R$ 10,00), Caixa adopted principles that deviated from best practices in the segment. To create an apparent 'avalanche of prizes' and a high frequency of winnings, the plan established that 94% of the winning tickets offered values lower than the face value of the product.
The prize plan stipulated that 98,4% of winning tickets awarded prizes equal to or less than the face value. This prize structure contributed to a lack of public interest. The expert highlighted that, in a universe of 1.250.000 tickets, only 7.714 offered prizes exceeding the amount paid, thus undermining the main attribute of the instant lottery: 'the consumer's perception of a real chance of winning'.
Revenue from the Exclusive Instant Lottery – LOTEX (in millions)
|
Date |
Accumulated Value for the Month |
Total Accumulated Value |
| October – 2024 | 0,02 BRL | 0,02 BRL |
| November – 2024 | 0,00 BRL | 0,02 BRL |
| December – 2024 | 19,52 BRL | 19,55 BRL |
| January – 2025 | 31,45 BRL | 50,99 BRL |
| February – 2025 | 5,37 BRL | 56,37 BRL |
| March – 2025 | 27,14 BRL | 83,51 BRL |
| April – 2025 | 14,10 BRL | 97,61 BRL |
| May – 2025 | 13,88 BRL | 111,49 BRL |
| June – 2025 | R$ 8,67 (20 days) | 120,16 BRL |
The distribution system was also criticized by lottery retailers. Caixa implemented a fixed quota criterion that required each of the 13,5 establishments to sell the equivalent of 6,5% of their revenue in LOTEX tickets, regardless of local demand.
Logistical problems exacerbated the situation. The contract signed with Jadlog Transportes e Logística for ticket distribution stipulated delivery times of 30 days for inland areas and 20 days for capital cities, compromising product availability.
In March 2025, the National Association of Lottery Correspondents and Businessmen Linked to Games (ALSPI) obtained a legal victory. The entity secured an injunction in the Federal Court of the Federal District ordering Caixa Econômica Federal to suspend the imposition of quotas for the sale of LOTEX.
Lotex's monthly revenue has been unstable since its launch. In October 2024, it registered only R$ 0,02, followed by no revenue in November. December marked the effective start of sales with R$ 19,52 million, reaching a peak in January 2025 with R$ 31,45 million.
In the following months, the numbers fluctuated: February with R$ 5,37 million, March with R$ 27,14 million, April with R$ 14,10 million, May with only R$ 13,88 million, and 20 days of June with R$ 8,67 million. This inconsistency reflects the difficulties faced by the product in the Brazilian market.
With 18 months remaining on the Lotex operating contract, the current scenario indicates challenges to achieving the R$ 3 billion revenue target. What initially generated great expectations, especially among lottery business owners, quickly turned into disappointment due to structural flaws in the prize plan and the product distribution strategy.
