Best Panama Betting Sites

Panama is a country of great geostrategic importance, connecting South and Central America. As with many neighbouring 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 mostly 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.

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.

Gambling in Panama - 5 Things to Know

• 1
  Both land-based and online gambling is legal
• 2
  There is no tax on gambling winnings for players
• 3
  The legal age to enter a casino or betting shop is 18
• 4
  Panama serves as a licensing jurisdiction for online bookmakers
• 5
  Junta de Control de Juegos y Casinos is the regulator of gambling in Panama

General info

⏩Population: 4.200.000

⏩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

⏩Status: Regulated

Is Online Gambling in Panama Legal?

All forms of gambling are legal in Panama and regulated by the Junta de Control de Juegos y Casinos. Two gaming Acts apply, the one in 1997 for the land-based sector and the one in 2002 for online betting. 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, on the other hand, 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 an online presence. Even Betcris Panama, a popular local choice, is MGA-licensed.

Any company interested in applying 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 Players

There are many betting shops you can find in all major cities. If you get caught up with local trends, you might want to learn how to bet on boxing matches, but football betting and casinos are also very popular. 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 practised 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.

How to Deposit at Online Bookies

With gambling being legal in all its forms, players shall encounter absolutely no restrictions money-wise. 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.

Cryptocurrencies are widely accepted in the country, and no sportsbooks were found to offer local currency accounts (Panamanian Balboa). Yet the US dollar is available at any of them, which is why you can even consider playing on Tether bookmakers. 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.

Comparison with Neighbouring Countries

⏩ Nicaragua: is another country where boxing is popular, and sports betting, alongside all forms of gambling, is legal. Though there are no locally-licensed bookmakers, the best Nicaraguan betting sites are accessible to locals and tourists alike without any restriction.

⏩ Costa Rica: has legal unrestricted gambling for tourists, though locals can only participate in the lottery in theory. In fact, Costa Ricans are completely free to open accounts with online bookmakers, and the Costa Rica betting sites are not prosecuted, allowing everyone to access the huge betting market.

⏩ Colombia: also has a legal and regulated market, as well as a presence of international unlicensed bookmakers. Though the country offers a license and companies such as Betfair and Bwin have obtained it, there are no obstructions to the Columbia betting sites, even if they are unlicensed.