Caixa Loterias executives visited Uruguay to examine its state-controlled model, but no plan to transfer betting operations to Caixa has been confirmed
A visit by senior Caixa Loterias executives to Uruguay has prompted speculation that Brazil’s Government could eventually consider replacing its former licensing market with a state-controlled sports betting model.
The trip coincided with the Government’s announcement of Provisional Measure 1,394/2026, which prohibits the operation, offering, intermediation and advertising of fixed-odds betting in Brazil.
Gabriel Antunes Hess, Tiago Cordeiro de Oliveira and Caixa Loterias President Renato Silva Siqueira travelled to Montevideo from September 24 to 26 for an institutional meeting concerning Uruguay’s fixed-odds betting system.
Representatives met the Dirección Nacional de Loterías y Quinielas to exchange information about the country’s regulatory structure. Uruguay permits sports betting through Supermatch under state control, while online casino games are prohibited unless specifically authorised.
The visit took place shortly after Brazilian President Luiz Inácio Lula da Silva expressed interest in Uruguay’s approach during a meeting with President Yamandú Orsi in New York.
Monopoly remains an unconfirmed hypothesis
BNLData reported speculation from an unidentified market source that fixed-odds betting could eventually be transferred to Caixa Econômica Federal through Caixa Loterias.
Caixa had previously applied for federal authorisation, paid a R$30 million concession fee and selected Playtech as its technology provider. Its betting operation never went live.
However, the current provisional measure also applies to Caixa. Establishing a state monopoly would therefore require a further legislative change.
No official decision to grant Caixa exclusive betting rights has been announced. Government sources cited in subsequent reporting said the Uruguay meeting had been planned before the prohibition and did not indicate that the Brazilian market would reopen under Caixa.
Caixa Econômica Federal
“Through its subsidiary Caixa Loterias, Caixa constantly analyses the lottery market responsibly and in accordance with the regulatory environment.
“For this reason, it regularly conducts institutional visits and participates in events to monitor strategic, regulatory and governance aspects of the sector.”
The bank added that its strategic decisions follow technical, legal and sustainability criteria.
Uruguay’s model also faces substantial competition from unauthorised operators. While Supermatch is the country’s only authorised sports betting platform, estimates cited in the original report place illegal gambling revenue at approximately US$700 million annually.
The confirmed development is therefore Caixa’s study of Uruguay’s state-controlled system. Any suggestion that Brazil has decided to establish a Caixa monopoly remains speculative.
