Brazil’s Caixa bank puts betting plans on hold
Caixa Econômica Federal has again delayed plans to launch BetCaixa.
Brazil.- The state-owned Brazilian bank Caixa Econômica Federal (CEF) has cancelled plans to launch its own betting platform in 2026. The potential launch of BetCaixa has been put back again, this time until at least 2027, amid a heightened scrutiny of regulated online gambling in Brazil.
According to representatives of CEF, the intention had been launch a betting site in time for the 2026 FIFA World Cup to take advantage of the expected surge in wagers. However, increasing public and political criticism of gambling could see the project shelved entirely.
Caixa has operated federal lottery products since 1962, directing around 40 per cent of their revenues to social initiatives. However, its plans to enter the betting market have been politically controversial.
Last week, it was reported that the government is preparing a presidential decree to introduce new restrictions on online gambling in Brazil. Lula has previously said that he would favour a ban on online casino gambling, while others in the PT are supporting a bill that proposes a complete ban on online gambling in Brazil, which would mean reversing the legalisation that Lula signed off in December 2023.
Caixa Loterias has already paid the R$30m (€5.1m) fee for a federal licence to operate fixed quota betting, which it received from the Secretariat of Prêmios e Apostas (SPA) on July 30, 2025. The licence is valid until December 31, 2029. Portaria nº 1,665/2025 allows the activation of three official brands: BetCaixa, MegaBet and Xbet Caixa, offering sports bets and online games, both in physical and digital modalities. TCU Minister Jhonatan de Jesus has criticised the waste of public resources
The launch of the platform has already been delayed previously. The president of Caixa, Carlos Vieira, initially said operation would begin no later than November 2025, with Caixa expecting to make R$18bn (€3.4bn) in the first two years of operation.
The CEF said it “constantly analyses the opportunities for adjustment in the fixed quota betting market in a responsible manner and in line with the regulatory environment. “At this time, no contracts have been signed for the operationalisation of the platform, nor is there any obligation to pay fines related to the issue. Caixa reinforces that its strategic decisions observe technical, legal and sustainability criteria, always in consonance with the directions of the Federal Government”.
Meanwhile, the Minister of the Secretariat of Institutional Relations (SRI), José Guimarães, has addressed the current scrutiny of online gambling during a press event at the Palácio do Planalto. He suggested that the recent proposal to ban online gambling completely would be unlikely to pass Congress, but said parliamentarians were open to discussing changes in regulation.
