Caixa suspends launch of sports betting platform and TCU demands explanations.
Brazil's Caixa Econômica Federal has cancelled plans to create a sports betting site. The decision came after resistance from President Luiz Inácio Lula da Silva (PT) and parliamentarians allied with the government. The state-owned bank invested R$ 30 million in the federal license to operate in the sector, reveals a report by Poder360.
The financial institution planned to enter the fixed-odds betting market with its own platform. The announcement was scheduled for 2026, before the World Cup. Caixa postponed the launch to 2027, but there is no guarantee that the project will be resumed.
Caixa Loterias SA obtained authorization from the Secretariat of Prizes and Bets of the Ministry of Finance in July 2025. Ordinance SPA/MF No. 1.665, published in the Official Gazette of the Union on July 30, 2025, allowed the company to operate simultaneously in physical and virtual environments with three brands: BetCaixa, MegaBet, and Xbet Caixa. The authorization covered the operation of sports betting and online games.
Carlos Vieira, president of Caixa Econômica Federal (Brazil's state-owned bank), had projected revenue of R$ 18 billion in two years with the bank's entry into the sports betting market. In March 2024, he stated: “We have a whole plan to enter the world of betting, and that's a whole other universe. We are considering the possibility of starting in 2025. Caixa is authorized, like any other company, to operate in the betting market, following the established legislation.”
In August 2024, Vieira stated: “The market in Brazil tends to grow significantly in this segment. Caixa wants to be present and has a series of initiatives built in this direction.”
TCU pressures Caixa regarding the timeline and admits Febralot as an interested party.
The Brazilian Federal Court of Accounts (TCU) has decided to expand its monitoring of the delay by Caixa Loterias SA in launching its fixed-odds betting platform. In a decision signed on March 27th, Minister Jhonatan de Jesus pointed to evidence of wasted public resources, since the state-owned company has already disbursed R$ 30 million for the federal concession but has not yet begun operating the service. The TCU began questioning the lack of operational progress of the project, from the perspective of the principles of economy and efficiency in the management of public resources.
The Court accepted the participation of the Brazilian Federation of Lottery Companies – Febralot – in the monitoring process. Febralot presented estimates indicating losses during the five-year validity period of the license. According to the federation, Caixa's inaction consumes useful time from the five-year license, causing an estimated loss of R$ 6 million per year. The entity also released a statement in February protesting the suspension of the project by the federal government, warning of the impact on the physical lottery network, which loses competitive space and pent-up demand for the 2026 World Cup due to the massive expansion of private operators.
Despite the license being in effect, the operation has not yet begun. According to the TCU (Brazilian Federal Court of Accounts), the delay indicates a waste of public resources and a possible violation of the principle of economy. The delay affects the competitiveness of the lottery network in the face of the expansion of private operators in the digital environment.
Minister Jhonatan de Jesus ordered Caixa Loterias SA to provide factual, technical, and administrative justifications for not initiating commercial operations of the platform. The TCU (Brazilian Federal Court of Accounts) also demanded formal responses and an updated schedule from Caixa Loterias SA. Furthermore, the Court stipulated that the state-owned company submit an updated schedule for the launch of operations, a description of the compliance , integrity, security, and responsible gaming criteria applied in the technological structuring and the selection of providers, an indication of concrete mechanisms for preventing pathological gambling, such as self-exclusion, operational limits, behavioral alerts, and identity and age verification, as well as detailed information and supporting documentation regarding the territorial presence and fiscal responsibility in Brazil of the providers and subcontractors linked to the platform. These mechanisms should position the operation as an institutional benchmark in the sector.
Administrative inertia has become the subject of direct scrutiny by the Court. The measure raises the bar for the execution of strategic projects in the regulated market.
Political resistance and market impact
President Lula expressed opposition to betting companies. In a recent interview, he questioned: “If betting causes the harm we believe it does, why don't we eliminate betting altogether? Or regulate it so that there aren't so many betting companies in Brazil, allowing you to have a few, if they even serve any purpose.”
The Workers' Party (PT) caucus in the Chamber of Deputies has filed a bill that prohibits the exploitation, offering, promotion, and facilitation of fixed-odds betting in Brazil. Former Finance Minister Fernando Haddad (PT) stated that the party has been "circling the betting industry for some time." He argues that the issue has become a public health problem.
Health Minister Alexandre Padilha described the project as "speculation" in December 2025.
In the sports betting market – legalized in Brazil in 2018 and regulated in 2025 – Caixa's entry is seen as a structuring element for competitive balance due to its capillarity, institutional credibility, and capacity for nationwide distribution. Industry players consider Caixa's entry a structuring element for competitive balance. The delay in launching the platform could deepen market asymmetries and postpone the capture of public revenues associated with the new vertical. The TCU's (Brazilian Federal Court of Accounts) oversight occurs at a time of consolidation of the regulated betting market in Brazil.
In December 2025, the National Congress, with the approval of the economic team, approved an increase in the GGR tax from 12% in 2025 to 15% by 2028.
Former Finance Minister Fernando Haddad consistently criticized the Jair Bolsonaro (PL) government for not levying taxes on GGR ( Gross Gaming Revenue ) throughout his term. According to him, there was a tax incentive that enabled strong market expansion and a "pandemic" of betting sites in Brazil.
Betting companies were targeted by the government and the Workers' Party (PT) in advertising campaigns advocating for "taxing BBBs" ("banks, bets, and billionaires").
The government banned the use of Bolsa Família payments for gambling after the Central Bank tallied data on the use of the benefit for betting, but Supreme Court Justice Luiz Fux modified the decision and allowed registered beneficiaries to continue gambling.
The Lula government created a platform for self-exclusion of gamblers from all betting sites authorized to operate in the country. Since December of last year, Brazilians have had a "button" to opt out if they feel that gambling has begun to negatively affect their lives.
There was an assessment that Caixa's platform would also combat illegal gambling. Irregular websites move billions of reais in resources annually, according to industry operators.
The government has promised to restrict the operation of betting sites, and the Finance Minister, Dario Durigan, is studying a package to combat household debt and prevent further indebtedness due to fixed-odds betting, as requested by President Lula.
Official statement from Caixa.
In a statement to Poder360, Caixa Econômica Federal informed: “CAIXA informs that it constantly analyzes, in a responsible manner and aligned with the regulatory environment, opportunities to operate in the fixed-odds betting market.”
The state-owned company clarified: "To date, no contracts have been signed for the operation of the platform, nor is there any obligation to pay fines related to the matter."
The institution reiterated: "CAIXA emphasizes that its strategic decisions observe technical, legal, and sustainability criteria, always in accordance with the guidelines of the Federal Government."
In December 2024, the Judging Committee of the subsidiary CAIXA Loterias SA, in the competitive process for contracting an integrated provider for the development, implementation, distribution, maintenance, and technical support of a Fixed-Odds Betting or sports betting solution for CAIXA Loterias SA, announced that the winning company was Playtech – VS Technology, which obtained 50,125 points in the sum of the criteria considered.
In its 2024 Integrated Report, Caixa Loterias had expressed interest in the sector. The document stated: “The recent regulation of Fixed-Odds Betting, initiated with the approval of Law No. 14.790/2023, represents both opportunities and challenges for CAIXA Loterias. The new regulatory framework establishes a more structured and transparent environment, with clear rules for the operation of companies and greater tax revenue.”
Caixa Loterias characterized the lottery and betting market as a "challenging and promising scenario." The company highlighted the need for a long-term strategy.
The company stated that it conducts research on the profile of bettors: “Understanding the profile of the Brazilian bettor is another essential element in defining CAIXA Loterias' strategies. With a focus on customer centricity, the Company makes continuous investments in research on behavior and preferences, aiming at the development of products and services that meet the expectations of bettors and promote greater engagement.”
Caixa Loterias concluded: “In summary, the lottery and betting market in Brazil presents a challenging yet promising scenario, requiring CAIXA Loterias to adopt a posture of constant adaptation and strategic innovation. The Company recognizes the importance of monitoring sector regulations and changes in consumer behavior, investing in actions that strengthen its market position. Among these actions, the diversification and attractiveness of products, the promotion of Responsible Gaming, and the analysis of sector trends stand out, with the objective of ensuring the sustainability and growth of the business.”
International landscape of state-owned operators
Caixa's initiative aligns with a global trend of migrating gambling to legal, safe, and regulated environments. Several state-owned operators already dominate the digital betting market internationally.
BCLC controls over 80% of the provincial online GGR in Canada with its PlayNow platform. Loto-Québec generates over 400 million Canadian dollars annually from its online casino, betting, and poker operations in Canada.
Danske Spil holds 62% of the national digital GGR in Denmark. Veikkaus achieved a GGR of €1,1 billion in 2023 in Finland after unifying lottery, casino, and betting operations.
Greece's OPAP and Norway's Norsk Tipping maintain a strong digital presence despite foreign competition. Flutter acquired Sisal for €1,9 billion. Sisal previously operated the Italian lottery.
Camelot/Allwyn has operated the national lottery in the United Kingdom for 30 years. The company has expanded its operations into the digital environment. ONCE combines technological innovation with social impact in Spain. Tabcorp controls 43% of the digital betting market in Australia. The company was state-owned and is now publicly traded.
