Online gambling in Panama: an undiscovered paradise part II

Online Gaming

By means of resolution No. 65 of Oct. 25, 2002, the Gaming Control Board of Panama in charge of the authorization, regulation and supervision of wagering activities performed through electronic of chance and wagering activities performed through electronic communications that allows online bets in Panama.”

At the culmination of a national and international consulting process and after hearing the opinions of experts in this area, the implementation of this modality of game was achieved. Therefore, the operation of companies aimed to capture all kind of internet wagering, including, casinos, sports books, poker rooms and electronic lotteries, is now possible. This regulation found its way out without generating the conflicts caused in other countries where the established casinos and sports books are against these activities for considering them as an unfair competition.

Profile of the applicant

The profile of the applicant, regarding its operation experience in this kind of activities, should include personal background, and the appropriate financial solvency to initiate and support the operation are indispensable at the moment of requesting a contract to operate a system for electronic communication games or to receive international calls for wagering. 

Another important requirement is to be able to prove that the system is capable to identify the identity of the player and/or the origin of the money. It has expressly prohibited online games from authorized entities that operate in Panama and from players or persons that reside within the Panamanian territory.

The access of persons under age was also prohibited, and the board assumed measures to prevent money laundering, to guarantee security bets and avoid that the gamblers be object of fraud.