Panama Gambling Market Grows 16.6% to US$2.49 Billion
Panama – 12 November 2026 – www.zonadeazar.com Panama’s gambling industry recorded 16.6% year-on-year growth between January and September 2026, reaching US$2.49 billion in gross wagers, according to figures released by the country’s Comptroller General.
The result represents an increase of US$354.3 million compared with the US$2.14 billion recorded during the same period in 2025.
Growth was primarily driven by online gambling platforms, which increased their activity by 53.7%, while traditional slot machines maintained their leading position in terms of wagering volume.
Online Gambling Expands by 53.7%
Internet gambling was the fastest-growing segment among the industry’s main categories.
During the first nine months of 2026, digital platforms recorded US$626.2 million in gross wagers, compared with US$407.5 million a year earlier.
This increase allowed the online segment to expand its market share from 19.1% to 25.1%.
Consequently, approximately one in every four dollars wagered in Panama now comes through digital gambling platforms.
Slot Machines Maintain Market Leadership
Despite the expansion of online gambling, Type A slot machines continue to account for the majority of market activity.
The segment generated US$1.70 billion in gross wagers, representing year-on-year growth of 7.5%.
Its market share reached 68.1%, confirming its importance within Panama’s gambling industry.
Together, Type A slot machines and online gambling platforms accounted for 93.2% of total recorded wagers during the period.
Casino Tables and Sports Betting Record Growth
Other gambling categories delivered mixed results.
Between January and September 2026, the following figures were recorded:
- Casino table games: US$128.1 million, up 17.7%.
- Land-based sports betting: US$13.6 million, an increase of 1.8%.
- Bingo halls: US$4.9 million, up 4.3%.
- Horse racing betting: US$20.2 million, down 7.7%.
- Instant games: US$1.5 million, a decline of 39.2%.
The figures demonstrate that market expansion was uneven, with significant differences between gambling categories.
September Records 13.1% Growth
During September, Panamanian operators recorded US$285.1 million in gross wagers, representing a 13.1% increase compared with the same month in 2025.
However, the result was below August’s US$310.1 million.
This monthly variation does not alter the positive cumulative trend recorded during the first nine months of the year.
Official statistics also exclude Type C slot machines, which operate in commercial establishments under a different regulatory framework.
Consequently, total gambling activity may exceed the published figures.
National Lottery Revenue Declines by 1.7%
While the private gambling market expanded, the National Charity Lottery recorded a different performance.
The organisation reported US$612.7 million in gross sales, compared with US$623.1 million during the corresponding period in 2025.
This represents a year-on-year decline of 1.7%.
One development affecting its performance was the suspension of the Lotto and Pega 3 electronic lottery games, which held their final draws on 21 April 2026.
The suspension followed a court decision concerning questions surrounding a contractual amendment related to the distribution of these products.
Since then, the institution has continued operating through traditional lottery tickets and official number games.
Digital Transformation of Panama’s Gambling Market
The expansion of online wagering reflects a gradual transformation in the composition of Panama’s gambling industry.
Although land-based slot machines continue to dominate overall activity, digital platforms are growing at a substantially faster rate.
This trend creates opportunities for technology suppliers and companies specialising in online gambling platforms.
At the same time, it highlights the importance of maintaining regulatory oversight as digital operations expand.
It is important to distinguish that the reported figures represent total amounts wagered, rather than operators’ net gaming revenue or profits.
Industry Impact and Next Steps
The results for the first nine months of 2026 confirm the expansion of Panama’s gambling market and the increasing importance of online platforms.
The 53.7% increase in digital wagering contrasts with more moderate slot machine growth and declining National Lottery sales.
For operators and technology suppliers, these developments highlight changing consumer preferences and distribution channels.
With wagering volume approaching US$2.5 billion, Panama’s gambling industry continues expanding, supported by rapid digital growth and the sustained dominance of land-based slot machines.
Editó: @fonta
