The rapid growth experienced by the entire gaming and betting sector in Latin America, both in the casino environment and in the online betting environment over the last 10 to 12 years, has been truly spectacular. Increasing the number of interested parties that multiply at the moment when there is a regulation that protects the user and legally controls this recreational environment.
In that sense, Panama took the most liberal route, quickly turning bookmakers into completely legal, regulated and therefore safe places. The legal framework that controls online betting in this country was established thanks to the Law of the Panama Gaming Supervisory Board (Law 2 of 1998). With her, Powers rest with the Panamanian Gaming Control Board, which will be the body that will regulate and supervise licensed gaming activities, including online betting. Therefore, it is the Administration that is in charge of sending the appropriate permits, as well as the responsibility for monitoring and controlling the operators so that they comply with the regulations.
What is required to operate as an online betting platform in Panama
In order to obtain this license, the company must undergo a due diligence financial stability, as well as their technical ability to provide quality service. Likewise, you must show that you cover everything necessary measures against money laundering, as well as protection of data and economic transfers that its users will deposit or perform.
It is important to emphasize that the supervision and control of these houses does not stop with obtaining the permit, but they will be subject to it constant monitoring to ensure that they are in compliance with the regulations at all times.
Only in this way, by complying with the requirements of the Gambling Control Board of Panama, you can be part of lists like those offered by the Todoscasasdeapuestas.com platform. This benchmark in the adult gaming environment offers legal bookmakers for players from different countries, including Panama, for which the operator must have a license issued by the Panama Gaming Control Board.
Responsible Gambling Regulations in Panama
If there’s one thing that makes Panama’s betting regulations stand out, it’s that interest in the treatment of gambling before it becomes a problem, establishment of prevention activities.
In this sense, the JPJ (Committee for the Protection of Games of Chance) has approved a number of measures that are included under Decision no. MEF-RES-2022-2900 of the Ministry of Economy and Finance. Both operators and administrators of these portals will guarantee presence Request for self-exclusion, a form that will be controlled by the YOG itself, in addition to offering sufficient information on responsible gaming.
In the same line of guaranteeing the reduction of possible problems arising from gambling, these bookmakers must offer to anyone who asks for it informative documents of the Section for responsible organization of games of chance and prevention of pathological gambling. Generally, this documentation is found in collection boxes.
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
