Panama tightens gambling regulations: advertising ban and biometric verification introduced
Panama’s National Assembly has passed a new law that significantly changes the rules for the gambling industry: betting advertising is banned, online platforms must implement biometric verification to restrict access for minors, and operators are required to allocate 10% of their profits to the Mental Health Institute fund. The law still awaits presidential approval to come into effect. This marks a crucial step in enhancing control and safety within the gambling sector.
The legislation imposes a total ban on betting advertisements across television, social media, sporting events, and influencer channels. Violations may result in fines of up to 10% of gross revenue, license revocations, and even criminal liability, reflecting strict new enforcement measures.
Additionally, operators must adopt biometric verification to prevent underage gambling. New payment restrictions are also introduced to reduce players’ debt burdens, promoting responsible gambling.
Plans are underway to implement educational lessons in schools to raise awareness among students about the risks associated with gambling, demonstrating a comprehensive preventive approach.
This law significantly increases operator accountability and aims to reduce the harmful social impact of gambling, especially among young people.
After presidential signature, these measures are expected to create a safer gambling environment and help combat the negative effects of gambling addiction.
