Panama Jurisdiction

The Republic of Panama is the southernmost country of Central America.  The online gambling in Panama is controlled by the Panama Gaming Control Board (Junta de Control de Juegos), established in 1947.

Online gaming is legal and permitted in the Republic of Panama. Panama adopted regulations governing the licensing of electronic games of chance and wagering activities in late 2002.

The regulations allow master licenses to be granted that are valid for up to seven years upon payment of a license fee of USD $40,000. There is also an annual license fee of USD $20,000.

Master license holders of online gambling in Panama Jurisdiction may grant sub-licenses, which are subject to the annual fee. Applicants must pay all investigation costs incurred in the processing of the application. Panamanian taxation policies allow Internet gaming companies to operate essentially tax-free when accepting foreign wagers.

In October 2002, the Republic of Panama began offering internet gaming licenses to interested parties wishing to operate within the Panama Jurisdiction.

Every internet gaming company registered within or hosted inside of Panama must be registered under the Online Gaming Act of 2002. This regulation allows for international wagering to take place online. The official currency of all entities operation within the jurisdiction of Panama is the USD, and no online gaming companies are subject to foreign exchange control.

Panama Internet Gaming Licensing Terms

The process of the application for the Internet Gambling License in Panama Jurisdiction usually takes from one to two months after providing all required documents.

A licensee should:

1.    ensure that all Applicants have no criminal record and suitable references
2.    designate qualified Applicants as to operating under the master license
3.    ensure that all software and specific games of chance conform to the strict regulations of the Panama Internet Gaming License
4.    collect all fees
5.    monitor game payouts and to make certain they are within acceptable worldwide standards
6.    make certain that a complete record of all transactions are available for inspection by designated officials of the Government or the License 
       holder at any time    
7.    comply with national and international money laundering regulations
 
The jurisdiction of Panama closely regulates all gaming sites and companies operating with their approved license. They ensure that all software used and all specific games of chance meet the strictest of standards and regulations. All games must be fair, and all winnings must be paid to the player.
 

Gambling Control Board of the Republic of Panama
Panama City