Panamanians spent $2,515 million on bets until October 2023

Posted on 2024-02-08

The gaming and betting industry in Panama registered a gaming volume of 2,515 million between January and October 2023. The data comes from the National Institute of Statistics and Census (Inec) and represents an increase of 12 percent compared to the previous year.

According to the entity's report, bets on slot machines reached 1,527 million dollars. The figure represents 81.96 percent of the entire gaming market registered in Panama.

In second place was the National Charity Lottery, which allocated another $651.5 million dollars, while online gambling came third with 182.3 million.

The amount that was played at gaming tables was smaller, where Panamanians left 104.9 million dollars.

On the other hand, the amount of bets on horse races, sporting event venues and bingo halls barely reached $49.2 million combined.

The recovery of gambling and betting in Panama
In August, the Gaming Control Board (JCJ) of the Ministry of Economy and Finance (MEF) of Panama celebrated the 99 percent recovery of the activity of the gaming and betting industry, after the passing of the COVID-19 pandemic. Covid-19.

“The industry has recovered very well in the Republic of Panama. We are going to increase between 10 and 12 percent in the income of the gaming control board. More than 2.5 billion dollars were bet in the country related to the gaming and chance industry in 2022. And this year we are increasing,” revealed Manuel Sánchez, director of the JCJ.

However, the Association of Gambling Administrators (Asaja) detailed that although they also note the recovery rates, “we are still not at pre-pandemic levels.” The president of Asaja, Antonio Alfaro, assured that according to the group's estimates, "the sector will grow above what it was pre-pandemic, let's say in 2025."