Panama’s Gambling Industry Continues to Expand: 16.5% Growth in H1 2026

Online Gambling Vertical’s Strong Results

The iGaming segment demonstrated the greatest performance, totalling PAB 379.75 million, compared to PAB 237.62 million the previous year. This achievement reflects a 59.8% increase. This vertical’s impressive upturn strongly contributed to the development of Panama’s legal industry.

Other popular niches also showcased inspiring results:

• type A slot cabinets — PAB 1.11 billion (+7%);
• table games — PAB 87.42 million (+18.6%);
• bingo halls — PAB 3.34 million (+6%).

Conversely, some segments experienced downturns:

• sportsbooks — PAB 9.14 million (-0.8%);
• lotteries — PAB 400.68 million (-4.1%);
• Presidente Remón Racetrack wagers — PAB 13.44 million (-7.2%);
• instant-win games — PAB 1.28 million (-23.5%).

Increase in STRs

The gambling sphere’s growth naturally correlates with strengthened financial supervision. In the 1st half of this year, Panama’s UAF, an audit agency, received 839 Suspicious Transaction Reports (STRs).

In the non-financial sector, gambling experienced the most notable upturn, with notifications of potentially dubious transfers increasing by 58% YoY. The real estate segment also saw substantial growth, whereas lawyers sent fewer reports.

The UAF’s experts underscored that the submission of an STR does not necessarily indicate the commission of a crime. An alert is generated when a payment appears inconsistent with a customer’s economic profile or the individual conducting a transaction.

The data obtained is handled with confidentiality and, if deemed necessary, forwarded to the relevant authorities. Consequently, the rise in reports largely means that more suspicious financial operations are identified and recorded, rather than a direct increase in illicit activities.

Enhanced Supervision: Response to Market Expansion

H1 2026 clearly demonstrated that Panama’s gambling industry continues to grow steadily. The iGaming vertical showed especially impressive results, as its volume has greatly surpassed most popular niches. As the sphere expands, stricter payment oversight makes legal compliance increasingly important for operators.

Amid the ongoing industry development, the following areas deserve special attention:

• AML tools and measures;
• transparency of transactions;
• responsible gambling initiatives.

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