Brazil: Banestes Loteria expected to launch by the end of the year

Banestes Loteria, a subsidiary of the bank of the Brazilian state of Espirito Santo, is expected to begin operations before the end of 2025. 

Bank CEO, Amarildo Casagrande, noted that the search for a partner to operate the lottery and provide technology is still underway.

Casagrande said the bank is conducting a very thorough selection process, adding that the chosen partner must bring international experience and all necessary certifications.

Originally, the bank aimed to select the partner by April 2025, with operations starting by mid-year, but both deadlines have now been extended.

According to Casagrande, the Banestes Loteria project will deliver significant benefits to the state. 

Banestes Loteria will channel funds back into Espirito Santo, which, as he claimed, will act differently from private betting platforms that do not generate resources for the Government.

Good to know: Brazil’s Secretary of Prizes and Bets and state governments are advancing plans to create a national betting system

These resources will be invested in primary areas such as education and healthcare, while also generating dividends that will return to the state for public policy execution.

The operation will offer products through physical sales points and online platforms. Banestes also plans to negotiate with its network of banking correspondents to expand distribution and create new points of sale.

Carlos Mendez

Writer

Odds tell a story long before the result does. When bettors learn to read that story properly, betting becomes a matter of discipline and value rather than emotion or guesswork.

Visit Profile

Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.