Active players: 600.000
Currency: Panamanian Balboa (PAB)
Regulated gambling products: Casinos, sports betting, bingo, lottery, horse racing
Designated authority: Junta de Control de Juegos y casinos (JCJ)
Operator types: Land-based casinos & bookies, online casinos & sportsbooks, lotteries, horse racing
Panama is a country of great geostrategic importance, connecting South and Central America. As with many neighboring countries, it was under Spanish rule, gaining its independence initially in 1821. It eventually became an independent country just in 1903. Its famous canal began construction then, and opened in 1914, connecting the Pacific with the Atlantic ocean. Panamanians are fond of football, they love baseball, and have produced top boxers like the great Roberto Duran.
As for gambling in Panama, it’s all legal and regulated. Casinos are apparent as well as betting shops. The online sector has also been regulated and legal since 2002. The Control Authority of Games and Casinos (JCJ) regulates and oversees all relevant procedures. No restrictions are in place, either on the land-based or the online sector. So, betting sites in Panama are free to access and locals are picking any sportsbook they prefer.
Gambling in Panama - 5 things to know
- Both land-based and online gambling are legal
- There is no tax on gambling winnings for players
- The legal age to enter a casino or betting shop is 18
- Panama serves as a licensing jurisdiction for online bookmakers
- Junta de Control de Juegos y casinos is the regulator of gambling in Panama
Best betting sites in Panama
Here you can find the top Panama betting sites. They all have great promotions & bonuses, offer the Spanish language, as well as a wide array of sports and markets to place your bets on.
Betting in Panama: The gambling law framework
All forms of gambling are legal in Panama and regulated by the Junta de Control de Juegos y casinos. Two gaming Acts apply, the 1997 one for the land-based sector and the 2002 for the online one. Since 2002, Panama has also been serving as a licensing jurisdiction for bookmakers worldwide. Casinos and betting shops can be found in most major cities. Casinos though need to operate within hotels. That's mainly because gambling is closely connected with incoming tourism throughout the country. There are no locally licensed online bookmakers; apart from Codere Panama, which has numerous betting shops and online presence. Even Betcris Panama, a popular local choice, is MGA-licensed.
Any company interested to apply for a local permit, would have to pay a 40,000 USD fee for an initial 7-year period; with an annual renewal fee of 20,000 USD. Efforts are also made against money laundering phenomena; since many have been accusing Panama of very lax surveillance of the sector. As for taxes, casino operators pay 12-18% tax per table or per slot machine. Operators offering sports betting in Panama on the other hand, pay a tiny 0.25-1% tax on their GGR. Additionally, there’s a 2% levy on winnings paid out to players.
Essential info for bettors
There are many betting shops you can find in all major cities. What’s really important is that, since 2019, the 5.5% tax on winnings has been revoked. This means that you get to keep all you win; either in casinos or at bookies, online or not. There are no laws prohibiting gambling in Panama, so feel free to engage in any form you prefer. Generally, online betting in Panama is practiced at any given chance, by Panamanians as well as foreigners. No red flags are there for you to be wary of; gambling is as smooth as it gets.
With gambling being legal in all its forms, players shall encounter absolutely no restrictions moneywise. Depositing and withdrawing money may be done in any available way; including credit cards and bank wire. Moreover, e-wallets like Neteller and Skrill are also offering their services in Panama; providing fast, secure and anonymous transactions. No sportsbooks were found to offer local currency accounts (Panamanian Balboa); yet the US dollar is available at all of them. Being almost like a ‘second official currency’ in Panama, online betting will feel like home to locals.
The future of online gambling in Panama
The gambling landscape here is already one of the most welcoming in the world. All forms are legal and players enjoy gambling in every possible way. The state has also revoked a previous tax on winnings. A Panama online gambling licence is available at a very low price too. As it stands it is already ideal, one could argue. What could elevate the level a bit more though, is for the state to insist more on anti-money laundering laws. This way it would prevent claims that it’s not doing enough towards being an even more respectable licensing jurisdiction. Altogether, Panama can deliver even better results in the gambling scene than it already does.
After a deep analysis of the local gambling scene, we list every single available online bookie in Panama. Check them out and make your choice.
The gambling scene in Panama is as free and regulated as it gets. All forms are legal here, including of course online sports betting. So, pick your preferred sportsbook and bet on worry-free.
Good news for players here. Since 2019, Panama has revoked a 5.5% tax that players ought to pay from their winnings. Since then, they get to keep all they win, with no applicable tax.
Offering one of the biggest in-play betting selections and countless events on live streaming; Bet365 Panama is one of the most renowned online sportsbooks welcoming local players.
With over 250 pre match extra bets on all major sporting events, 20+ payment methods offered and a great live streaming coverage on many competitions; 888sport gladly accepts Panamanian bettors.
Apart from being a global gambling jurisdiction itself, Panama also allows access to some of the most reliable bookmakers the world has to offer. Just stick to any of the operators we present in our analysis and enjoy a safe betting experience.
With over 80 years of experience, and 400+ football markets to bet on; William Hill is among the best bookies that accept local registrants. A horse racing expert too, for all you racing fans.
The lack of restrictions leaves you with an abundance of choices. It's up to you to find what suits you best. However, e-wallets such as Skrill and Neteller do offer remarkably fast and reliable transactions.