Restricted Casinos in Panama
Gambling in Panama was legalized in 1941 by introducing an additional 154 articles in the Constitution of the state. This provision abolished the thirty-seven-year ban on the activities of the gambling industry.
Initially, the updated legislation considered granting the right to organize gambling as a certain privilege allocated by the state to private enterprises. Until 1946, the government did not interfere in the activities of gambling establishments. Show more
In 1946, a new article 238 was introduced into the Constitution of Panama. Its action limited the possibilities of private companies, changing the situation in favor of the state. In the same year, it was decided to form a special body that controls and regulates the gambling industry of the Republic. The resolution was legally reinforced by an official government Decree 822. In 1947, the Council for the Control of Games in Panama, a special subdivision of the Ministry of Economy and Finance, regulating the procedure for conducting and using gambling in the Republic, was established by Decree-Law No. 19.
In 1996, the legislative provisions were modernized once again. The state decided to transfer existing institutions: casinos, gambling halls – to the management of private companies. According to the new charter, enterprises were given the right to render services in the gambling industry on the basis of contracts with the state for servicing and operating establishments. The Council was tasked with monitoring and controlling the work of companies.
In 1997, new principles of gambling were confirmed by Resolution No. 92. The reorganization of the functions of the Panama Gaming Control Board was regulated by Decree No. 2 of 1998. The provisions of the Law determined the types of activities falling under the jurisdiction of the PGCB, as well as the duties and functions of the Council. Both provisions remain in force to this day and are the main legislative acts regulating the rules of gaming in Panama.
In 2002, the Republic determined the features of providing services in the online gambling industry. Regulation and control are subject to the activities of most institutions offering any gambling entertainment: casinos, bookmakers, poker rooms, electronic lotteries, and others.
In 2003, the first license to conduct Internet activities was issued.
Modern gambling operators consider the possibility of obtaining a PGCB license as a reliable, profitable business support solution. As the main advantages of registration of activities in the Panamanian jurisdiction are:
Low level of fees. Online companies are completely exempt from taxes, receive favorable customs concessions. Stability of the political situation and government; The opportunity to maintain partnerships with representatives of the gambling business of North and South America.
Panama Gaming Control Board licenses provide the opportunity to organize the activities of online institutions both inside the state and the international market.
The acquisition of a license to conduct a gambling business in the Panamanian jurisdiction is also relatively simple. To obtain permission to organize activities, you must provide:
- Documents confirming the absence of previous convictions;
- Certificates certifying compliance of software with quality standards;
- Report on previous activities and previous transactions;
- Receipts for payment of required fees.
The entire process of registration of a license from the moment of filing an application takes an average of 1-2 months. During this time, the Council checks the submitted documentation, conducts testing of software, equipment. Show less
|#||Online casino||AffGambler Rating||Welcome bonus||Reviews|
|1||MuchoVegas||7.78||100% up to €100||7 reviews||Visit|
|2||Miami Dice||6.23||200% up to £2500||0 reviews||Visit|
|3||Spin Station||6.18||200% up to £1000||0 reviews||Visit|
|4||Mr Green||6.18||200% up to €50||3 reviews||Visit|
|5||The Grand Ivy||6.12||100% up to £300||0 reviews||Visit|
|6||Casimba||5.48||200% up to £5000||0 reviews||Visit|
|7||LadyLucks||4.40||100% up to £200||0 reviews||Visit|
|8||Bet N' Spin||4.30||200% up to $200||1 review||Visit|
|9||Spinland||3.96||200% up to £3000||0 reviews||Visit|
|10||Betser||3.92||100% up to €200||2 reviews||Visit|
|11||Chance Hill||3.80||100% up to £100||0 reviews||Visit|
|12||DriftCasino||3.57||100% up to €500||1 review||Visit|
|13||MobbySlots||1.58||100% up to £200||1 review||Visit|