Brazil grants licence for Caixa Loterias’ state-owned betting brands

Caixa Loterias has received a five-year licence to operate the BetCaixa, MegaBet and Xbet Caixa brands.

Brazil.- The Brazilian gambling regulator, the SPA, has granted a fixed-odds sports betting and gaming licence to Caixa Loterias, the lottery subsidiary of the state-owned financial institution Caixa Econômica Federal. The licence authorises it to operate the BetCaixa, MegaBet and Xbet Caixa brands on Brazil’s newly regulated online gambling market up until 2030.

As part of the implementation strategy, Caixa and tech provider Playtech have scheduled a presentation of the operating model at Rede Loterérica’s physical stores in São Paulo on August 11. According to the company, the event will focus on listening to and engaging with lottery retailers.

“This is a time dedicated to listening to the network. We want to understand their reality, listen to their experiences, and gather contributions to jointly design a proposal that generates value for everyone,” the institution stated.

Meanwhile, as reported by Focus Gaming New Brasil, DEFY has received a licence to operate the 1xBet brand in virtual sports betting and online gaming. The authorisations were granted based on Laws No. 13,756/2018 and No. 14,790/2023.

In other news from Brazil, the Federal Court of Auditors (TCU) has confirmed that it will audit federal controls on money laundering in the sports betting and online gaming sector. The decision was made by minister Jorge Oliveira on Monday after the Senate Inquiry Commission into Brazil’s new online gambling market identified flaws in control systems.

The audit will assess whether the SPA’s mechanisms are effective in preventing manipulation and money laundering. One focus will be the certification of algorithms used by the platforms and the oversight of the entities responsible for audits.