Caixa President States That Online Betting Does Not Compete with Lotteries

In a press conference held on Thursday (08/22), the president of Caixa Econômica Federal, Carlos Vieira, stated that online betting does not represent competition for the traditional lotteries operated by the bank. According to Vieira, Caixa will be one of the main players in the emerging sports betting market, but this will not affect the performance of the lotteries.

Vieira highlighted that the revenue from these new initiatives in the online betting sector is expected to reach about half of the current lottery collections. He expressed confidence that this diversification of the bank's operations will generate growth and new opportunities, both for the institution and for the bettors.

"We believe that online betting and traditional lotteries are complementary products. Each of them attracts different audiences and offers distinct experiences. Therefore, we do not see sports betting as a threat, but rather as a natural extension of our entertainment portfolio," Vieira stated during the conference.

The president of Caixa also pointed out that entering the sports betting market follows the institution's strategy of innovating and adapting to new market demands. Caixa is already in an advanced process to launch its own betting platform, which will offer a variety of options for the public, maintaining the high standards of security and trust that are the bank's trademark.

This move by Caixa reinforces the institution's commitment to remain relevant in the entertainment and betting market, ensuring new revenue sources without compromising the lottery legacy.