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Panama passes bill for stricter gambling regulation system
Panama has approved Bill 403 in the National Assembly, which aims to tighten gambling regulations and improve initiatives for preventing problem gambling connected to the rise of iGaming in the country.
Raúl Pineda and Crispiano Adames proposed the bill and created it specifically to make stricter regulations for both land-based and digital gambling in Panama and, at the same time, promote responsible gambling practices for citizens.
A big change introduced by the bill is the creation of a fund for fighting against problem gambling, requiring operators to pay 10% of their profits to the Instituto de Salud Mental (INSAM). The funds will be used to treat problem gambling and establish specialized centers for gambling disorders.
According to the new legislation, minors will be prohibited from participating in gambling activities, with operators now having to use biometric systems to verify the age and identity of users.
Huge limitations on betting advertising are also included in the bill, as the regulations will ban ads for betting services on traditional media channels, social networking websites, and sports. Additionally, influencers and public figures will not be allowed to promote gambling services.
A new regulatory body called the Junta de Control de Juegos (JCJ) will supervise the gambling industry in Panama with the help of modern technological measures, which will allow regulators to monitor gambling operations in real time.
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