Lawmakers in Panama approve new gambling bill
Lawmakers in Panama approves new gambling bill
Panama’s National Assembly has approved Bill 403, a law that seeks to curb the rise of gambling addiction in Panama.
Approved after the third debate the initiative, was presented by deputies Raúl Pineda and Crispiano Adames, and establishes new rules for casinos and digital platforms.
If approved by President Jose Raul Mulino the bill will create a fund to treat gambling addiction. Under the law, operators will be required to allocate 10% of their profits to the National Institute of Mental Health (INSAM) to finance treatment programs and a specialized centre in Panama.
Controls are also being tightened to prevent minors from accessing these activities. The law prohibits their participation and requires digital platforms to implement biometric verification systems to guarantee user identity.
In addition, it would prohibit the promotion of gambling in media, social networks and in sports, including the use of public figures or influencers to encourage betting.
Oversight will be handled by the Gaming Control Board (JCJ), which will have technological tools to monitor the sector’s operations in real time. In the case of non-compliance significant fines of up to 10% of revenue, license suspensions, and even criminal prosecution in serious cases can be imposed.
The law also limits payment methods and mandates the inclusion of educational programs on the risks of gambling in the Panamanian school system.
The proposal has moved forward and is awaiting the Executive’s sanction by the President of the Republic for the regulation to officially come into effect.
