Panamanians spent more than $2.5 billion on gambling in 10 months of 2023

Residents of Panama spent $2.515 billion on gambling in 10 months of 2023. The National Institute of Statistics and Census (INEC) announced this recently. Compared to the previous year, the volume of bets placed by residents of Panama increased by 12%.

$1.864 billion of bets came from casinos, bingo and horse racing, as well as online gambling and online sports betting.

$1.527 billion of the total bet volume was on Type A slot machines, accounting for 81.96% of the total gambling market. In addition, residents of the country bought lottery tickets totaling $651.5 million. Online gambling accounted for $182.3 million of bets placed.