08/22/2024 – 20:50
Caixa Econômica Federal hopes to become one of the main players in the sports betting market in the country. Caixa Loterias, a subsidiary of the bank that handles lottery outlets, has asked the Ministry of Finance for authorization to operate with this type of betting.
“Caixa’s entry into the betting world has an important social impact,” said Caixa CEO Carlos Vieira in an interview with the press about the bank’s results in the second quarter. According to him, just like in lotteries, the bank will distribute the funds raised to social projects.
Vieira said that the lottery monopoly, granted by the Constitution to Caixa, sought precisely to give this social character to the games. According to him, by regulating betting, the federal government is taking upon itself the responsibility of dictating the rules for these games.
Caixa emphasized that it will supervise players to prevent gambling abuse. Caixa Loterias president Lucíola Aor said that the bank will impose limits on both betting and usage, and if necessary, will provide supervision to gamblers in case they become addicted.
According to her, the activities of lotteries and betting are complementary. “These are not competitive markets,” said the executive. She stated that the bank expects revenue from sports betting to be equivalent to half of what is currently collected from traditional lotteries.
Today, with share capital below the minimum required by the Ministry of Finance to operate in this market, Caixa Loterias must meet the minimum requirements within the deadline set by the ministry, according to the ministry.
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