Panama has moved to strengthen its national problem gambling policies in the face of an increasingly growing online gambling sector.
A bill put forward by deputies Raúl Pineda and Crispiano Adames was approved by the National Assembly, enforcing a number of laws for online casinos that are designed to be an extra protective layer for vulnerable groups against problem gambling.
One significant development will see the creation of a mandatory 10% levy on operators’ earnings, to be funneled into the Institute of Mental Health (INSAM) for the creation of problem gambling support programmes and a specialised care center in Panama.
The bill also mandates for an obligatory biometric ID to be rolled out across online platforms to prevent the participation of minors.
Furthermore, advertising is also planned to be severely limited, with gambling marketing across media channels, social media platforms and sports being banned, together with the use of public figures and influencers to encourage gambling.
Responsibility to oversee the restrictions will be put into the hands of the Gaming Control Board (JCJ), which will receive the necessary tools to detect infringements in real-time.
Regulatory breaches will lead to financial penalties of up to 10% of an operator’s income, together with the potential suspension of its licence and criminal litigations being launched.
On the problem gambling education front, the bill envisions the rollout of education programmes across schools nationwide. Payment methods will also be limited so that financial debt and uncontrolled spending is brought to a minimum.
With the bill earning the backing of the National Assembly, it is now due to be brought to José Raúl Mulino Quintero, President of Panama, for a final sign off before it can be enforced.
The legislation comes amid a wider tightening of regulations and tax frameworks across Latin America. Brazil, for example, is increasing the tax rate on gross gaming revenues (GGR) in its still-emerging gambling market from 12% to 18% by 2027.
Tax measures in Colombia and Peru are also proving a frustration for operators focused on or with an interest in Latin America, a region which for many years captivated industry attention and was seen as ripe for opportunities.