The launch of what became known as Caixa’s betting site, expected for this year, has been postponed to 2027.
The forecast was that Caixa Econômica Federal would launch its own sports betting sites in the first half of 2026, before the World Cup.
However, according to information from Poder360, the project was postponed due to pressure from the federal government.
Even with this new forecast, there are still doubts about whether the idea will remain in the financial institution’s plans.
Reasons for the postponement
News of Caixa’s betting site postponement emerged in the press following statements by President Luiz Inácio Lula da Silva about fixed-odds betting in the country.
In an interview with ICL, Lula went so far as to say that, if it were up to him, betting sites would be shut down in the country, since they cause so much harm. For him, the practice has increased Brazilians’ debt.
Other members of the government have also spoken out against betting in the country. Fernando Haddad, Finance Minister at the time, said he is not in favor of gambling and that it “should even be reconsidered by the National Congress.”
In practice, since June of last year the government has been implementing measures that impact the sector, such as the provisional measure that raised the tax for betting companies, from 12% to 15% on revenue.
There are also speculations about another Provisional Measure expected for May that will also affect the industry.
At the same time, a Bill in the Chamber of Deputies calls for the total shutdown of betting sites in the country.
Timeline of the “Caixa’s betting site” project
- 2023 to 2024: after the regulation of sports betting, with Law 14.790/2023, Caixa studies the possibility of expanding its subsidiary Caixa Loterias.
- 2024: the institution begins working on the project with the goal of diversifying revenue and entering a profitable market. At the time, Caixa’s president, Carlos Vieira, said there was already a whole plan in place to enter the sector
- 2025: the government authorizes Caixa to operate in the betting market. The institution pays a R$30 million license fee to operate 3 betting brands (BetCaixa, MegaBet, XBet Caixa). Expected revenue would be R$18 billion over 2 years.
- Late 2025: initial launch forecast for 2025 does not materialize due to government pressure and operational issues.
- April 2026: Caixa cancels the 2026 launch. The project is postponed to 2027 or may not happen at all.
Uncertain future
Given the current outlook and without a concrete forecast for when Caixa’s betting site would be up and running, the institution stated in a note that it “constantly analyzes, in a responsible manner and aligned with the regulatory environment, opportunities to operate in the fixed-odds betting market.”
However, as Caixa stated, no contracts have yet been signed and “there is no obligation to pay fines related to the matter.”
The institution also emphasized that all of its decisions are backed by “technical and sustainability criteria, always in line with federal government guidelines.”