Brazil’s Caixa bank delays its betting plans

(AsiaGameHub) –   Caixa Econômica Federal has once more postponed its schedule for the debut of BetCaixa.

Brazil.- The state-run financial institution Caixa Econômica Federal (CEF) has scrapped its 2026 target for launching its proprietary betting service. The introduction of BetCaixa has been pushed back further, now slated for 2027 at the earliest, as oversight of Brazil’s regulated gambling sector intensifies.

CEF officials stated that the original goal was to debut the platform ahead of the 2026 FIFA World Cup to capitalize on the anticipated betting boom. Nevertheless, the project may be abandoned altogether due to mounting political and public backlash against gambling.

Since 1962, Caixa has managed federal lottery offerings, with approximately 40 percent of proceeds allocated to social programs. However, its move into the sports betting arena has sparked political debate.

Reports surfaced last week that the administration is drafting a decree to impose stricter limits on Brazilian online gambling. President Lula has expressed support for a prohibition on online casinos, while some members of the PT party are backing legislation for a total ban on online betting, which would overturn the legalization Lula approved in late 2023.

Caixa Loterias has already settled the R$30m (€5.1m) federal licensing fee for fixed-odds betting, granted by the Secretariat of Prêmios e Apostas (SPA) on July 30, 2025. This permit remains in effect until December 31, 2029. Under Ordinance No. 1,665/2025, the bank is authorized to launch three brands—BetCaixa, MegaBet and Xbet Caixa—covering sports wagering and online gaming across digital and physical channels. Meanwhile, TCU Minister Jhonatan de Jesus has voiced concerns regarding the misuse of public funds.

This is not the first time the platform’s rollout has been stalled. Caixa President Carlos Vieira had previously projected a launch by November 2025, with the bank forecasting R$18bn (€3.4bn) in revenue during its first two years.

The CEF noted that it “regularly evaluates adjustments within the fixed-odds betting sector responsibly and in accordance with the regulatory landscape. “Currently, no operational contracts have been finalized, and there are no financial penalties involved. Caixa emphasizes that its strategic choices are based on technical, legal and sustainability standards, aligning with Federal Government policy.”

In the meantime, José Guimarães, Minister of the Secretariat of Institutional Relations (SRI), discussed the scrutiny of the gambling industry at a Palácio do Planalto press briefing. He indicated that while a total ban on online betting is unlikely to be approved by Congress, lawmakers are willing to negotiate regulatory amendments.