Caixa Lotteries highlights interest in participating in Brazil's sports betting market

The Iberoamerican Corporation of State Lotteries and Gambling (Cibelae) has shared a recent interview with the President Director of Loterías Caixa, Lucíola Aor Vasconcelos, who highlighted the state-owned company's plans to explore the sports betting market. 

"We are closely following the development of the regulation by the Ministry of Finance. Caixa has expressed interest in participating in sports betting. Of course, we have to go through the whole process. All the screening that the Ministry of Finance is going to do, with the enabling documentation and the requirements that are demanded, but we are going to enter the process, as all the other players have done," Vasconcelos said.

This is not the first time a representative of Caixa has spoken out on the subject. In an interview in April, the President of the entity, Carlos Vieira, also expressed his interest in entering the betting sector.

Competition

In her conversation with Cibelae, Vasconcelos also commented on the state of the lottery market in Brazil, pointing out that since 2020 the activity is no longer a monopoly of the Union.

"Recently, we have had a lot of regulations passed, especially in terms of instant, sports betting fixed odds betting, and with that it is becoming an increasingly competitive market. Caixa has followed all this movement, we have participated in it, studying a lot and preparing ourselves. Our goal is development, more investment, and training," she said.

Vasconcelos added: "Caixa has increasingly sought not to have partnerships, but to hire players from the market itself so that we can operate at the same level as other competitors and compete on equal terms."