4H AGENCY
This market overview was prepared by Ivan Kurochkin, Head of Eastern Europe Desk, Partner and one of the founders of 4H Agency.
After 10+ years’ experience in consulting every type of clients from the testing laboratories to global operators and B2B providers on a variety of matters related to the gambling operations, Ivan has proven himself to be a business- oriented
benefits that do not actually exist.
Furthermore, advertisers are required to deliver on all promises made in their advertisements. If testimonials are used, they must be genuine and verifiable, and the ACODECO may request supporting documentation to confirm their authenticity. Any disclaimers or explanatory notes included in advertising must be clear, legible, and not misleading, with key information presented visibly rather than hidden in fine print.
LOCAL MARKET SPECIFICS
Gambling framework in Panama combines offshore-oriented online licensing with a more complex system for land-based activities. While online gambling is relatively straightforward in structure, the land-based sector is regulated through a combination of concessions, tenders, and revenue-sharing mechanisms, which makes the legal framework fragmented and sometimes difficult to interpret in practice.
From a commercial perspective, the domestic market remains small. Panama’s population of four million people, combined with relatively modest consumer spending and a cautious cultural
Sports betting & racing
attitude toward gambling, limits the scale of potential demand. As a result, the jurisdiction is generally not viewed as a high-growth market capable of supporting large-scale expansion or significant long- term investment.
At the same time, the regulatory environment has remained largely stable. Tere are currently no strong signals of major regulatory reforms or structural changes in the short- to medium-term outlook. Te level of competition, the size of the consumer base, and the general regulatory model are expected to remain
TAX AND FEES Vertical
Online gambling tax
Slot machine halls Sports betting
Racing
Taxable Tax rate base
GGR
Land-based casino (designated gaming areas) GGR Land-based casino (outside designated areas) GGR
GGR Bets
Bets 4%
10% + 12% from tables 10% 18%
0.25% monthly
0.50% monthly
Winnings 2%
broadly consistent, suggesting that the market will likely continue to operate in its current form without significant shifts in the near future.
Tough it is important to note, that the overall information environment surrounding the Panamanian market is notably limited. Tis lack of visible activity may create the impression of stability and simplicity. In reality, however, understanding the practical application of the rules often requires internal or local sources, as publicly available information is relatively scarce.
multi-jurisdictional advisor for entering new markets across the globe. His background helps him to choose the best and most efficient scenarios for expansion to new market or for bringing existing operations of the Agency’s clients to a significantly new level.
If you are considering venturing into the markets of CIS countries or seeking expert advice on navigating the complexities of the gambling industry, Ivan is the go-to person. Take action now and reach out to Ivan to explore how 4H Agency can support your endeavours in the vibrant and evolving landscape of the CIS region.
4H Agency is a global gambling advisory. We provide expert guidance to B2C operators and B2B providers, spanning market insights, payments, product localisation, regulations, licensing, public affairs, and more.
ik@4h.agency
t.me/Ivan_Kurochkin https://4h.agency
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