In H1 2026, gross bets in Panama reached nearly PAB 1.61 billion (1:1 with the USD). According to INEC's official data, this figure rose 16.5% YoY from PAB 1.38 billion.
iGaming as the Fastest Growing Segment
Online gambling showed the strongest results, reaching PAB 379.75 million, up from PAB 237.62 million the year before. This difference represents a 59.8% surge. Growth in the segment was a key factor in the expansion of Panama’s regulated market.
Other key verticals also showed positive dynamics:
- type A slot terminals — PAB 1.11 billion (+7%);
- table games — PAB 87.42 million (+18.6%);
- bingo halls — PAB 3.34 million (+6%).
Meanwhile, certain sectors saw declines:
- bookmakers — PAB 9.14 million (-0.8%);
- lotteries — PAB 400.68 million (-4.1%);
- Presidente Remón Racetrack bets — PAB 13.44 million (-7.2%);
- instant-win content — PAB 1.28 million (-23.5%).
Increase in Suspicious Transaction Reports (STRs)
The industry’s expansion naturally comes with enhanced payment oversight. In H1 2026, Panama’s UAF, an audit department, processed 839 STRs.
In the non-financial category, gambling saw the biggest increase: such reports rose 58% YoY. The real estate sector also experienced a rise, while law firms have sent fewer notifications of potentially suspicious transactions.
The UAF’s representatives emphasised that filing an STR does not always indicate a crime. A report is based on a financial operation that is inconsistent with a client’s account data or the profile of the person making a payment.
The information received is processed confidentially and, if necessary, forwarded to competent authorities. Therefore, the increase primarily reflects more unusual transactions detected or recorded, rather than a direct surge in illegal activity.
Tightened Regulation: Response to Market Growth
The first half of the year shows that Panamanian gaming continues to expand, particularly in the online segment. Its volume significantly outpaced most traditional categories. Tightening financial controls amid industry growth makes regulatory compliance increasingly important for gambling businesses.
As the sector develops further, special attention will be paid to:
- AML tools and measures;
- responsible gaming practices;
- transparency of financial operations.
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