Panama is one of the countries that is both geographically and politically well placed to allow betting, gambling, and playing online casinos for real money. The laws that the country has in place is also quite generous when it pertains to the gambling industry. You do not have any restrictions when it comes to gambling in Panama as a citizen or a foreigner. This has allowed the tourism industry and gaming industry to prosper in leaps and bounds by all means.
With inputs, guidelines, and gaming website references we provide you both gamers, gamblers, and investors in the gambling industry all the information that we need as an affiliate website. You can even get a list of websites that you can choose to use as a resident of Panama for your gambling needs. Furthermore, we discuss in detail the basic aspects of gambling in Panama that you would need to be aware of. We also get into the details of the laws of the country, its gambling history, and answer a few questions regarding gambling in Panama.
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Panama Online Casino Sites
In this section we give you details of the aspects that you would have to be careful about gambling in Panama. This concentrates on the gambling portals, online casinos, betting online, and related online activities pertaining to the gambling sector. Once you go through this information carefully, you would be better placed to figure out which website or platform you can choose to use for your online gambling requirements.
Online casinos & gambling website Panama: Things to consider
The credibility of the online casino or gambling website in Panama can be determined with the history or track record that they have with customers. Paying up the winning amount without holding back any money with them or paying in instalments is something that you would have to look out for. You might ideally want to keep away from these companies at any cost. Using only a company that has paid in full whatever a gamer has won should be important. These things can be found out when you look at testimonials, reviews, and other feedback customers have given about the website when they used them. Finding these things out can help you understand how credible the website is in Panama.
Robust around the clock customer support
Providing their gamers with the required customer support at all times of the day often speaks a lot about the accountability of the online gaming or casino Panama website. You should be able to connect with the customer support team by one means or the other. This can be either through the phone, email, char, social media, or by creating a ticket. If you are able to do so then you can have whatever issues you have with the account sorted easily. However, if this type of support is not provided then you would be ending up with more trouble than you had bargained for with the online gambling Panama website. So, choose an online casino that has the type of support you may require in times of need.
Finding the financial backing the online casino has
This is another aspect that you would have to research about when it comes to playing at an online casino for real money. The turnover of the casino websites should be much greater than the prize money that they have to offer the gamblers. If this is not the case then you cannot rely on them to pay you when you win big on the games that you play or gamble. Bets placed and won would have to be paid in time and in a prompt manner and this can only be possible if the online casino you are dealing with has a sound financial background.
Cyber security aspects of the website or software
You should always give utmost importance to the security aspect of the platform you gamble, bet, or play online games with. At times these companies use software applications that you install and use on your phone or your computer. These applications would have to be state of the art when it comes to cyber security. This is because you would be divulging your financial information to play, pay, deposit, win, and have money sent to you. So, if the security is not adequate then the chances of your financial information being misused is higher. You can end up losing money or having your financial information compromised and that is not something that you would ideally want with the website or company you are dealing with.
Once you take care of these aspects you can be assured that you are dealing with a company or an online casino that has your back. Specifically, in countries like Panama where there are options aplenty the chances of cybercrime are also higher. It directly has an impact where more online casinos, gambling websites, software applications, and other platforms are involved. You also see more gamblers as well in countries like Panama. So, if you are not taking enough measures so safeguard your interests then the chances of you losing big are also higher. Always remember to keep these things in mind when you indulge in online gambling in Panama websites or casinos.
Online Gambling in Panama: Laws and Regulations
The best part about gambling, betting and playing on casinos in Panama is the fact that you do not have regulations like what the other countries do. Gaming licenses have been offered for almost more than a decade in Panama. The geographical location makes it an ideal place for gaming websites and online casinos to headquarter their operations. This is also due to the liberal laws of the government in Panama and their very strong infrastructure. You can verify with the Junta de Control de Juegos which is the regulatory authority when it comes to the gambling, betting, and casino industry in Panama. It is also applicable for all forums or platforms that operate on the Internet apart from having physical centers in the country.
Moreover, the laws of Panama also allow companies to cater both to Central, North, and South American countries when they are based out of Panama. Several licenses have been made by using the country’s restrictions that are not as strict as other countries in the world. The other advantage with the Panama laws is that the local residents or citizens are free to join any online casino website to gamble and play for real money. This has further increased the number of people who use online betting, gambling, and casinos online when they live in Panama. Tourists and foreign nationals also indulge in these betting, casinos, and online gambling websites when they are in the country and win massive amounts of money.
Parimutuel betting, poker, casino games, and sports betting are governed by Junta de Control de Juegos and licenses issued by the same authority in Panama. These are also some of the common gambling prospects that both the citizens of the country and foreigners use. The first license issued by the Panama government dates back to 2003 after the online gaming act of 2002 was implemented. Since then there have been numerous licenses issued for both online and physical gambling spots in Panama.
The Junta de Control de Juegos can be used to file an application to open a gambling website in Panama. Once the application is submitted there are various checks done for the business and their policies. These checks include business processes analysis, criminal background check, and testing of fair play that applies to all games of chance. Once a business gets through these processes a license is issued enabling them to start operations, inside, outside, and on websites for gaming and gambling.
Gambling History in Panama
The history of the country Panama is quite rich when it comes to gambling and game of chance. There are loads of casinos and gambling options for the people of the country as well as for tourists from other countries when they visit the country Panama. However, only in 2002 the gaming authority Junta de Control de Juegos passed a law allowing legal gambling in the country. The first of the gambling and betting licenses was then issued in the year 2003 followed by many more in the years to come.
People of Panama indulge in a lot of gambling since it is not illegal to do so in the country. As long as you are 18 or above you are allowed to participate in any betting, gambling, casino games, online poker, and many more. Even if you are over 17 you can still get involved in gambling activities without getting into legal trouble. The laws of the land do not restrict you to major restrictions when it comes to gambling activities. Hence, Panama has become an epicentre when it comes to gambling and other online casino activities including betting. If a company follows the license provided by Junta de Control de Juegos you can be assured of not getting into trouble practicing gambling in Panama.
There are a total of 11 cities and that have over 46 gambling facilities that are legal in Panama that you can use. Casino gaming, gambling, betting, and other activities have been reinstated ever since the American forces were withdrawn completely from Panama. This also meant that tourism has taken a front seat with gambling and betting to be a part of it. Thus, the history was rewritten with the gambling industry which prompted to make gambling and betting to be legal in this country. This has helped the economy, tourism department, and the income to the government by way of taxes in Panama.
The Future of Gambling in Panama
The government of Panama has made things easier for anyone with a clean record to obtain a license in the country. This has prompted more companies and online casinos to begin their operations in Panama since the legal aspect does not put too many restrictions on them. It simply means that the government has paved the way for more companies to start and operate out of Panama and talks loads about the bright future that the industry has for gambling.
There has been a tremendous increase in the rate of employment after the online gambling act of 2002 was passed. More people have been employed in this specific industry ever since. Moreover, tourism has seen a good rise too since the tourists are allowed to gamble in this country. More people have begun to flow into this country not only to see the Panama Canal which is a marvel but also to gamble and play on the casinos available to them.
So, it is irrelevant if you are an investor in businesses involved with gambling or a person who is an avid gambler your chances in Panama are only increasing by the day. You can look at online resources that talk in detail about how the gambling industry has begun thriving ever since it was made legal. It is also possible for you to figure out that you can start your own business in Panama with relevant ease with minimal documentation after being approved by the Junta de Control de Juegos. So, you do not have to break your sweat about the regularities involved with gambling or setting up a business related to it in Panama. You can begin as and when you please regardless of you being a foreigner or a local resident.
Panama Online Casino FAQs (5)
Although it is not possible for us to be able to answer all your questions in this column, we tried our best to answer the most frequently asked ones by people. Here is the list below that we have compiled to make things easier for you:
Is it Legal to Play Online Gambling Sites in Panama?
Yes, it is absolutely legal to play on online gambling sites in Panama. It does not matter if you are a citizen of Panama or of another country. You have all the liberties in the world to be able to indulge in any gambling, betting, and online casino activities in the country.
Do Panama Country Authorities Allow for Online Sports Betting?
Yes, the authorities allow for all online sports betting activities in Panama. Although there might be certain restrictions when it comes to the country that you belong to there are still ways in which you can continue to bet for online sports. Website specific rules can be found on the same websites and you can read them to be certain about it.
Is Online Gambling Safe for Panama?
Yes, online gambling is safe by all means in Panama. This is unless you fall under the legal age group which is above 18 to indulge in any game of chance in the country. Moreover, the laws do not restrict anyone otherwise when it comes to gambling activities online or in a physical manner.
Are Bonuses Offered by Online Casinos in Panama?
Yes, bonuses are offered by online casinos based on various aspects for a gamer. While some websites provide a joining bonus there are others that give bonuses and rewards of different types. However, you might be better placed when you look at the specific rules of a website before you sign up with them. This is because bonuses can vary from one website to another by a huge amount of money or in terms of rewards.
What are the Available Deposit Methods?
The deposit methods that are made available for gamblers are available aplenty. However, most websites have their own deposit methods and they vary greatly. One can depend on the most popular websites to be able to provide them with deposit options that include direct bank deposits, wire transfers, credit/debit card deposits, and PayPal. Some of them also support deposit methods using online wallets.