International edition
September 25, 2021

August marked the fourth consecutive fall, while new tax on gaming are being debated

Panama sees 20% drop in sports betting

Panama sees 20% drop in sports betting
In sports events, bets fell 21.5% year-on-year in August in Panama.
Panama | 11/19/2018

At a global level in all the sub-items, the national Gaming Control Board registered an interannual decrease of 2.44% in bets. The biggest fall corresponds to the gaming tables of the resorts with more than 300 rooms, with 27.9%.

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t a global level in all the sub-items, the national Gaming Control Board registered an interannual decrease of 2.44% in bets. The biggest fall corresponds to the gaming tables of the resorts with more than 300 rooms, with 27.9%.

Panama's gaming betting sector extended its negative trend to four months and is heading for another year of losses. Between January and August, the Games Control Board registered bets for 1,470.9 million dollars, a decrease of 36 million compared to the same period of the previous year. Of the eight months measured by the entity, five ended in the red.

Gambling operators emphasize that the bad moment that exists in the sector began in 2015, when the Government created the 5.5% tax to finance the increase to retirees and pensioners. They claim that the player has to pay the tax beyond winning or losing, a situation that affected the arrival of international bettors.

The biggest drop was recorded in the gaming tables that are only in full casinos that operate in hotels with more than 300 rooms. Between January and August, 88.9 million dollars were bet on the gaming tables, a decline of 27.9%, while in the type A slot machines the fall was 3.6%, according to local newspaper La Prensa .

In the first eight months of the year, 1,312 million dollars were wagered on type A slots, which are the teams that allow multiple bets in a single play. Of the total bet between January and August, 1,199 million dollars were paid in prizes.

The data is known as the president of Panama, Juan Carlos Varela Rodríguez, must decide whether to ratify or veto the 621 project approved last month by the National Assembly, which imposes a tax of 5% of the net annual profits of the slot machines and betting centers in casinos and gambling halls throughout the country, to finance part of the increase in pensions and retirement.

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