Boating

A variety of rental boats are available at the marinas near the Thomas Drive bridge over Grand Lagoon. These include the Captain Davis Queen Fleet, based at Captain Anderson's Marina, 5500 N. Lagoon Dr. (tel. 800/874-2415 or 850/234-3435); the Lighthouse Marina, 5325 N. Lagoon Dr. (tel. 850/234-5609); the Pirates Cove Marina, 3901 Thomas Dr. (tel. 850/234-3939); and the Treasure Island Marina, 3605 Thomas Dr. (tel. 850/234-6533).

Many resorts and hotels provide beach toys for their guests' use. WaveRunners, jet boats, inflatables, and other equipment can also be rented from Lagoon Rentals (tel. 850/234-7245).

Fishing

The least expensive way to try your luck is with Captain Anderson's Deep Sea Fishing, at Captain Anderson's Marina, Thomas Drive at Grand Lagoon (tel. 800/874-2415 or 850/234-5940). The captain's party-boat trips last 5 to 6 hours, with prices ranging from $45 to $65 per person, including bait and tackle. Observers can go along for $20 less.

The more expensive charter-fishing boats depart daily from March to November from the marinas.

You definitely won't get seasick casting your line from the M. B. Miller County Pier, 12213 Front Beach Rd. (tel. 850/233-3039), or the Dan Russell Municipal Pier, 16101 Front Beach Rd. (tel. 850/233-5080).

Golf

At Marriott's Bay Point Resort Village, the Bay Point Yacht and Country Club, 3900 Marriott Dr., off Jan Cooley Road (tel. 850/235-6950), offers 36 holes of championship play, including the Bruce Devlin-designed course Lagoon Legends, rated one of the country's most difficult. Both it and the Club Meadows course have clubhouses, putting greens, driving ranges, clinics, and private instruction. Greens fees with cart start at about $99 in summer and $69 in winter, depending on the day of the week.

The Edgewater Beach Resort, 11212 U.S. 98A (tel. 850/235-4044), also has a 9-hole resort course, and its guests have access to the Hombre, 120 Coyote Pass, 3 miles west of the Hathaway Bridge off Panama City Beach Parkway/U.S. 98 (tel. 850/234-3573), a par-72 championship course that is home to the Nike Panama City Beach Classic. Also, 15 of its 18 holes have water hazards (the unforgiving 7th hole sits on an island). Greens fees are about $75 in summer, $60 in winter, including cart.

The course at the semiprivate Holiday Golf Club, 100 Fairway Blvd. (tel. 850/234-1800), sports lake-lined fairways and elevated greens. Greens fees with cart are about $55 in summer, $45 in winter. You can play at night on a lighted 9-hole, par-29 executive course.

The cheapest place to play here is the flat and forgiving Signal Hill, 9516 N. Thomas Dr. (tel. 850/234-3218), where you'll pay about $27 to walk 18 holes in summer, $20 in winter. Add about $8 per person for a cart.

For course information, go to Golf.com or the Florida Golfing website, or call the Florida Sports Foundation (tel. 850/488-8347) or Florida Golfing (tel. 866/833-2663).

Scuba Diving & Snorkeling

Although the area is too far north for extensive coral formations, more than 50 artificial reefs and shipwrecks in the Gulf waters off Panama City attract a wide variety of sea life. The largest local operator is Hydrospace Dive Shop, 6422 W. Hwy. 98 (tel. 850/234-3063). Others include Panama City Dive Center, 4823 Thomas Dr. (tel. 850/235-3390); Emerald Coast Divers, 5121 Thomas Dr. (tel. 800/945-DIVE or 850/233-3355); and Pete's Scuba Center, 9007 Front Beach Rd. (tel. 800/401-DIVE or 850/230-8006). These companies lead dives, teach courses, and take snorkelers to the grass flats off Shell Island.