Panama Gambling Bets Rise 16.6% to US$2.49 Billion

Panama's Betting Market Grows on Online Gambling Expansion

During the first nine months of 2026, Panama's gambling industry recorded an additional US$354.3 million in wagers compared with the same period in 2025. Total activity reached US$2.4929 billion, consolidating a growth trend across the main segments of the regulated market.

Type A slot machines continued to account for the largest share of activity, although the online segment gained ground and emerged as the industry's main growth driver.

Type A Slot Machines Maintain Market Leadership

Type A slot machines generated US$1.6983 billion in wagers between January and September, accounting for 68.1% of the total market. This represents a 7.5% increase compared with the US$1.5797 billion recorded during the first nine months of 2025.

These machines, installed in authorized casinos and specialized gaming venues, remain the largest segment of Panama's gambling industry by wagering volume.

Online Betting Surges 53.7%

The online betting segment posted the strongest growth among the main gambling categories. Digital platforms generated US$626.2 million in wagers, up from US$407.5 million a year earlier, representing a 53.7% year-on-year increase.

In addition to expanding its wagering volume, online gambling significantly increased its market share. Its contribution rose from 19.1% in 2025 to 25.1% during the first nine months of 2026.

Combined, Type A slot machines and online platforms accounted for 93.2% of all wagers in Panama, highlighting the importance of both segments within the industry's current structure.

Casinos, Sports Betting and Horse Racing: Segment Performance

Casino table games ranked third in terms of wagering volume, generating US$128.1 million between January and September. This represents a 17.7% increase compared with the US$108.8 million recorded during the same period in 2025.

This category includes traditional casino games such as blackjack, roulette, baccarat and poker, available at full-service casinos operating under the authorization of the Gaming Control Board.

Other gambling segments reported mixed results:

• Presidente Remón Racetrack: Recorded US$20.2 million in wagers, a 7.7% decline.
• Sports betting shops: Generated US$13.6 million, representing 1.8% growth.
• Bingo halls: Reached US$4.9 million, an increase of 4.3%.
• Instant games: Fell by 39.2%, from US$2.5 million in 2025 to US$1.5 million in 2026.

The figures highlight differing performance across gambling verticals, with particularly strong expansion in digital platforms and a significant decline in instant games.

September Records US$285.1 Million in Wagers

In September, operators recorded US$285.1 million in gross wagers, 13.1% more than in the same month of 2025.

However, the figure was below August's US$310.1 million, which represented the highest monthly total of the year through the end of the third quarter.

Official statistics also exclude certain gambling categories operating in the country. In particular, Type C slot machines, which are available in authorized commercial establishments under different conditions from Type A machines, are not included in the monthly report.

As a result, the actual volume of money wagered in Panama could exceed the figures published by the Comptroller General.

Panama's National Lottery Reports a 1.7% Decline

In contrast with the growth recorded by private gambling operators, Panama's National Charity Lottery reported lower sales during the first nine months of 2026.

The institution generated US$612.7 million between January and September, compared with US$623.1 million during the same period in 2025, representing a year-on-year decline of 1.7%.

Monthly performance fluctuated throughout the period. In June, sales of lottery tickets and chances fell by 21%, while July recorded a 14.5% recovery. August saw another decline of 9.2%, but September closed with an 8.1% increase, reaching US$63.2 million.

Suspension of Lotto and Pega 3 Affects Lottery Activity

The sales performance comes after the suspension of the electronic lottery games Lotto and Pega 3, which held their final draws on April 21, 2026.

The measure followed a court ruling concerning the contractual addendum that had authorized their operation. Meanwhile, the institution continues to hold its traditional lottery draws.

Two Different Trends in Panama's Gambling Market

The figures for the first nine months of 2026 reveal contrasting trends across Panama's gambling and betting activities.

Private operators, on the one hand, continue to record double-digit growth, driven primarily by the expansion of online gambling, which is steadily increasing its share of the market relative to traditional formats.

The National Charity Lottery, on the other hand, is experiencing declining sales amid the suspension of its electronic products.

The performance of both segments highlights changes in the composition of Panama's gambling market, where digital platforms are consolidating their position as one of the main growth drivers within the regulated industry.