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Monday, 24 September 2022 08:40


About Panama Jurisdiction

Panama, officially the Republic of Panama , is the southernmost country of Central America situated on the isthmus connecting North and South America. Casinos and gambling have been a big part of the culture in Panama for decades. This small county hosts legal gambling and has 36 gambling houses available to the public.

Panama began offering internet gaming licenses to casino operators wishing to operate within this jurisdiction in October 2002. All internet gaming companies registered within or hosted inside of this jurisdiction 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 within the jurisdiction of Panama is the USD. Online gaming companies are not subject to foreign exchange control. The online gambling in Panama is controlled by the Panama Gaming Control Board (Junta de Control de Juegos), established in 1947.

Panama Licences

Internet gaming companies registered in Panama enjoy complete tax exemptions. Customs duty concessions are given for imports needed to carry on Internet gaming. As long as the income made from Internet operations is to jurisdictions outside of this country, there are no income tax, sales tax, withholding tax, or VAT tax. Offshore companies, including online gaming companies are not subject to foreign exchange control.

The regulations governing the licensing of electronic games of chance and wagering activities allow master licenses to be granted that are valid for up to seven years upon payment of a license fee of $40,000. The companies also have to pay an annual license fee of $20,000. Master license holders may grant sublicenses, which are also subject to the annual fee. Applicants for a licence must pay all investigative and research costs. Application processing can take anywhere from a few weeks to two months or more, only after all necessary documentation is filled out and submitted.

Resolution of Complaints and Disputes

Unfortunately there is no authority players resort to in case of any disputes with casino operators licensed in Panama.

Summing up

Although Panama has some regulations in place to protect players and ensure fairness of gaming, it is still far too easy to be granted a licence in this jurisdiction. Therefore, casinos operating out of this jurisdiction should not be fully trusted. We advise you to research such casinos before depositing your money there.

Online casinos licensed in Panama:

• Zex Casino

• Ministering Angel Casino

• Magik Money Casino


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