Bank will make traditional gambling available again in 2024; Lula withdrew product from the privatization program this year
A Caixa Econômica Federal plans the return of Lotex (Exclusive Instant Lottery) – also known as scratch cards – in 2024. Preparations are being made for the product to be sold again in the 1st half of the year.
O Power360 found that the expected revenue from the new scratch card is R$1.5 billion to R$2 billion in the 24 months in which the financial institution will sell the game exclusively. On March 20, the president of Caixa, Carlos Vieirahad advanced the estimate to this digital newspaper.
Internally, the bank’s leadership believes that the projection is conservative. Of this value, 65% (around R$1 billion) will be used towards the total prize payment. “The payout [pagamento de prêmios] It is very high and higher than what was historically paid”says Lucíola Vasconcelos, president of Caixa Loterias, when Power360.
The subsidiary will be responsible for operating the game. The exclusivity period starts from the first issuance of tickets for the lottery product in physical or digital media.
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In December 2023, the Ministry of Finance authorized the financial institution to resume Lotex. Bet values will range from R$2.50 to R$20.
For the cheapest ticket, prizes must reach up to R$250,000. The maximum value of each game will result in payments of up to R$2 million.
Until 2015, when the scratch card had been discontinued, games cost from R$0.50 to R$2. At that time, the maximum prize was R$600,000.
In addition to lottery outlets, bets can be placed virtually, with a simulator. Prizes up to R$2,259 will be redeemed in lotteries. From this amount, the winner will have to go to a Caixa Econômica branch.
O Power360 found that the bank is studying whether the redemption can also be made online to provide greater convenience to the bettor. This digital newspaper prepared an infographic with a summary of the new scratch card.
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SOCIAL DESTINATION
There is also a part of the game focused on social areas (16.7% of everything collected). Vasconcelos argues that the return of the scratch card is important as it allocates part of the resources to social resources.
“The return of Lotex is positive. It’s a game that we know has a lot of appeal. It’s fun, dynamic, easy to understand and contributes to society”he declares.
VARIOUS THEMES
Caixa Loterias intends to make the game even more attractive, with a multitude of themes.
Celebratory dates such as Mother’s Day, Carnival and São João should be among the themes, as well as board games – such as real estate banking.
Sports, such as football, volleyball, basketball and tennis, should also be part of the new scratch card menu. Read the infographic below:
UNDERSTAND THE BACK
Lotex operated in Brazil from the 1960s until 2015, when it was discontinued due to the CGU (Comptroller General of the Union), which challenged the legality of the operation. In 2018, new legislation resumed the modality in the form of a concession, through a bidding process.
At the time, 2 auctions were held without attracting interested parties. The requirements were relaxed and, in 2019, the companies IGT (International Game Technology), and SG (Scientific Game), in the form of a consortium, beat the competition of the 1st Lotex concession held in the country.
The group projected the start of operations for 2020, but withdrew from the business after considering that the service would only be viable through a distribution contract with Caixa, which was not made viable.
On February 28, the government of President Luiz Inácio Lula da Silva (PT) removed Lotex from the privatization program. The action was made official through Decree 11,935, of 2024.
