Panamanian online casinos for Real Money
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Panama Casino Guide
Getting Started
Panama is a country that is heavily involved in online gambling. Many people know that they license so-called offshore casinos. It won’t surprise you to learn that gambling in Panama is legal and regulated, then. However, there are a few more ins and outs to betting in Panama than first meets the eye and a couple of things you should note about betting there.
Before you sign up for any Panamanian-licensed online casino, we need to bend your ear and highlight a few things. Join us as this is exactly what we’re going to do as we look at Panama’s gambling laws and Panamanian casinos today.
Panama’s Gambling Laws and Regulations
Panama is renowned as a provider of gambling licenses. However, that’s not all. Gambling in the Central American country has been legal since 1886. Until 1997, it was only state-run operators that were permitted to cater to players. In 2002, Panama took steps to open its country to online casino gambling, too.
The Online Gaming act (2002) states that online gambling is legal in Panama. There isn’t much in the way of regulation when it comes to online casinos, something which backfires a bit. However, land-based enterprises and brick-and-mortar casinos are regulated to ensure that they agree with Panama’s rather loose interpretations of gambling law.
It is possible for Panamanians (including the many expats and tax dodgers that live there) and tourists alike to gamble in the country, but only at land-based sites. Online gambling sites in Panama are not permitted to accept players from the country. The irony in this is staggering. In short, Panama will license casinos to cater to players in other countries (even if those countries don’t permit their residents to gamble) but won’t allow their own players to join those sites. This is just another reason why so many players feel quite strongly about Panamanian licenses and casino sites in general.
Who Regulates and Licenses Panamanian Casino Sites?
The Panama Gaming Control Board has long been known as a provider of gambling licenses to betting sites. However, with licenses costing as little as $40,000 and a validity period of seven years, they aren’t quite highly respectable licenses. Moreover, the Gaming Control Board in Panama doesn’t regulate casinos. They simply offer licenses. Because of this, Panama-issued gambling licenses aren’t particularly valued. Any license is better than no license, but even then, you still need to look hard at what a Panama-licensed casino is offering.
As a tax haven, there has been plenty of negative press relating to money laundering and organised crime (in relation to gambling) concerning Panama. Cheap licenses and no corporate tax are other reasons that casinos flock to Panama for a license. However, it is often only the dubious, small-scale or scam casinos that try this method. Most others know that Panamanian licenses aren’t worth much to players, so they seek the services of the licensing authorities in Curacao, in Europe or beyond.
Panama-licensed sites are amongst the biggest offenders when we look at rogue, blacklisted, and scam casinos. In the early 2000s, many Panamanian licensed casinos were home to immense money laundering operations. In recent times, this may have switched over to cryptocurrency and Bitcoin betting sites. We strongly suggest that any casino player take a second look at their site’s history and services before deciding to play at Panama-licensed casinos.
Panama’s Most Popular Gambling Games
Betting on bingo in Panama is legal and has been since 2002. Many Panamanians take full advantage of that. Similarly, poker has also been legalised. Sports betting is also a popular pastime, while Panama does have lottery games that you can bet on. Panamanians tend not to play casino games at sites licensed in their country, but those that opt to play at offshore sites do love a crack at slots and RNG table games. Live dealer games don’t seem to be a hit with Panamanians, but cryptocurrency casino games are.
Panama is home to many businesses that want to avoid corporate tax. However, few of the major casino software providers have offices out there. Doing so would put them in hot water with licensed European casinos, which is where many of those software providers do their most business, and in some cases, are based. As a result of this, you won’t find many software providers either originating in Panama or based in the Central American country.
Who Can Play?
Any online casino that is licensed out of Panama is naturally forbidden (by its own licensing authority) from catering to Panamanians. You simply won’t find any Panama-licensed casino accepting players from the country, which is nothing short of baffling.
However, rival licensing authorities tend to get their own back. The Government of Curacao and other licensing bodies do this by accepting players from Panama, or rather, some of the casinos licensed by them choose to do so. If you are based in Panama and want to gamble at online casinos, you have little recourse but to sign up at non-Panamanian betting sites.
Online Casino Payment Options
Online casinos in Panama offer a variety of payment methods catering to the preferences of local players. While some of these methods are globally popular, others are exclusive to Panamanian players. Here is a detailed list of payment methods, split into categories:
Credit/Debit Cards:
- Visa: A widely accepted payment option, Visa credit and debit cards offer secure transactions and are commonly used by Panamanian players for depositing and withdrawing funds in online casinos.
- Mastercard: Another popular choice among players, Mastercard credit and debit cards offer quick and safe transactions, making it easy for Panamanian players to fund their casino accounts and withdraw winnings.
- American Express: Although not as widely accepted as Visa and Mastercard, some online casinos in Panama accept American Express cards for deposits and withdrawals, providing another option for credit card users.
Bank Transfers:
- ACH Direct: ACH Direct is a Panamanian payment service that enables players to make secure bank transfers directly from their local bank accounts to their online casino accounts. This method is popular for its convenience and reliability.
- Banco Nacional de Panamá: Some online casinos allow players to make transactions using their Banco Nacional de Panamá accounts. This enables them to deposit and withdraw funds through a familiar banking platform.
Electronic Wallets:
- Nequi: Nequi is a Panamanian digital wallet that allows players to make deposits and withdrawals at online casinos. This e-wallet offers a convenient and secure way to manage casino transactions.
- Yappy: Another Panamanian e-wallet, Yappy allows users to make instant and secure transactions with their online casino accounts. This method has gained popularity among players for its ease of use and swift transaction times.
Cryptocurrency:
- Bitcoin: Bitcoin is a popular cryptocurrency option for online casino players in Panama. It provides a secure and anonymous method for depositing and withdrawing funds, as well as faster transaction times compared to traditional payment methods.
- Ethereum: Another widely accepted cryptocurrency, Ethereum offers similar benefits to Bitcoin in terms of security, anonymity, and transaction speed. Panamanian players can use Ethereum for both deposits and withdrawals at select online casinos.
- Litecoin: Litecoin is also accepted at some online casinos in Panama, offering a secure and fast method for players to manage their casino transactions using cryptocurrency.
Prepaid Cards and Vouchers:
- Pago Efectivo: Pago Efectivo is a prepaid voucher system that allows Panamanian players to deposit funds into their online casino accounts without sharing their banking information. Players can purchase these vouchers at authorized outlets and then redeem them at participating casinos.
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F.A.Q's
1. Is online gambling legal in Panama?
Yes, online gambling is legal in Panama. The country has a well-regulated gambling industry, overseen by the Panama Gaming Control Board. Online casinos operating within Panama must obtain a license to offer their services to players. It is essential to play at licensed and regulated casinos to ensure a safe and fair gaming experience. For more information on licensing and regulation, visit our Licensing and Regulation guide category.
2. What types of online gambling games can I play in Panama?
Players in Panama can enjoy a wide variety of online gambling games, including slots, table games like blackjack, roulette, baccarat, and poker, as well as live dealer games. To learn more about different game types, check out our Online Casino Games page, where you’ll find detailed information on each game category, along with tips and strategies for improving your gameplay.
3. What payment methods are commonly used for online gambling in Panama?
In Panama, players can use various payment methods for depositing and withdrawing at online casinos, such as credit and debit cards, e-wallets, bank transfers, and cryptocurrencies. To find out more about available payment methods and how to use them, visit our Payment Methods page.
4. Can I play online casino games on my mobile device in Panama?
Yes, many online casinos in Panama offer mobile compatibility, allowing players to access their favorite games on smartphones and tablets. For more information on mobile gaming and how to find the best mobile casinos, explore our Mobile Gaming guide category.
5. Are online casino bonuses available for players in Panama?
Yes, players in Panama can take advantage of various online casino bonuses, such as welcome bonuses, deposit bonuses, free spins, and loyalty programs. To learn more about these offers and how to maximize their benefits, check out our Bonuses and Loyalty Programs guide category.
6. How can I ensure a safe and secure online gambling experience in Panama?
To ensure a safe and secure online gambling experience in Panama, always play at licensed and regulated casinos, use secure payment methods, and maintain strong account passwords. Additionally, be sure to keep your device’s software up-to-date and use a reliable antivirus program. For more tips on online safety and security, visit our Safety and Security guide category.
7. What are the responsible gambling resources available in Panama?
Responsible gambling is crucial for maintaining a healthy relationship with online gaming. In Panama, players can find various resources and organizations dedicated to promoting responsible gambling practices and offering support to those struggling with gambling addiction. For more information, visit our Responsible Gambling Advocacy guide category.
8. How can I improve my online gambling skills and strategies?
Improving your online gambling skills and strategies can be achieved by studying the rules and strategies of specific games, practicing with free demo versions, and managing your bankroll effectively. Our website provides numerous articles and guides dedicated to various casino games, tips, and strategies, which you can find under the Casino Guides section.
9. Are live dealer games available at online casinos in Panama?
Yes, live dealer games are available at many online casinos in Panama. These games offer an immersive and interactive experience, allowing players to engage with professional dealers and other players in real-time. To learn more about live dealer games and how they work, visit our Live Dealers page.
10. Can I use cryptocurrencies for online gambling in Panama?
Yes, some online casinos in Panama accept cryptocurrencies like Bitcoin, Ethereum, and Litecoin as payment methods. Cryptocurrencies offer various benefits, such as fast transactions, low fees, and increased privacy. For more information on using cryptocurrencies and blockchain technology in online gambling, explore our Cryptocurrency and Blockchain guide category.