Online gambling helps fuel Panama’s 11.3% betting revenue increase

According to El Recreativo, Panama's gambling industry experienced a notable 11.3% growth in gross betting activity during the first quarter of 2025, signaling a dynamic expansion in the sector that continues to contribute significantly to the country's economy and employment.

Official data from the National Institute of Statistics and Census (INEC) show that gross wagers from all licensed gambling operators—including lotteries, casinos, slot machines, and online platforms—totaled B/. 671.8 million between January and March 2025. This marks a significant rise compared to the B/. 603.5 million reported in the same period in 2024.

Lottery sales, including tickets and instant-win games, brought in B/. 206.6 million, reflecting a 4.0% increase year-over-year. Slot machines classified as Type “A” generated B/. 516.6 million, up by 7.3% from B/. 481.7 million last year.

Online gambling was the fastest-growing segment, with revenues reaching B/. 106.1 million—a sharp 47.7% jump from the B/. 71.9 million recorded in 2024. Meanwhile, table games slightly declined by 0.6%, totaling B/. 35.0 million.

The horse racing sector posted B/. 7.3 million in bets, a 7.0% drop compared to the previous year. Sports betting lounges brought in B/. 4.4 million, down 3.5%, and bingo halls generated B/. 1.6 million. Instant-win games reported earnings of B/. 723,000.

Economist Patricio Mosquera commented on the findings, noting, “The double-digit growth in just one quarter highlights a dynamic expansion of the gambling sector, outpacing the general economy. This performance is driven in large part by increasing adoption of digital platforms and mobile apps, which are improving access and broadening the user base.”