15-02-2008 Panama online sportsbook industry growing

The Executive Secretary of the Gaming Control Board, Raul Cortizo, told La Prensa that legal online sportsbooks in Panama registered total bets for $26.3 million in 2007, up from $14 million in 2006, with over $19 million of winnings paid back to online bettors.

Currently Panama has one master licensor which manages 10 sub-licenses for online sports books, each paying £20,000 a year to operate.

"Before we approve a sub-license, we ask these companies to prove their credentials, financials resources and experience of the management, so that we can investigate them," said the gaming regulator.