Panama Passes Law 527 to Implement Stricter Gambling Control Regulations

(AsiaGameHub) –   Panama is enacting Law 527, establishing a novel regulatory structure designed to bolster the oversight of betting operations and treat compulsive gambling as a public health concern.

Following its publication in the Official Gazette, the Executive Branch has been granted a six-month window to execute the new rules. Authorities anticipate that these reforms will mitigate the social dangers associated with the rise of digital gaming, particularly for youth.

The updated guidelines impose more rigorous demands on both physical casinos and digital betting platforms. These measures feature compulsory limits on player spending and session times, notifications for unusual activity, and enhanced identity checks utilizing biometrics and facial recognition.

Digital platforms must implement biometric verification for age and identity to block minors from accessing their services. Meanwhile, brick-and-mortar casinos are mandated to deploy facial recognition technology to bar individuals blacklisted by the Gambling Control Board.

Regulators will also gain broader authority to shut down unlicensed gambling portals, including websites, mobile applications, and IP addresses operating without a local permit. Telecom providers are required to execute these blocklists within five days, or they could be penalized up to 1 million balboas.

Additionally, the legislation sets up a dedicated fund overseen by the Ministry of Economy and Finance. Financed by levies on gaming operators, this capital will bankroll addiction treatment and preventative initiatives run by the Institute of Mental Health.

To guarantee adherence to the new rules, the Gambling Control Board is tasked with performing yearly audits of casinos. Concurrently, the Ministries of Education and Health will collaborate to launch educational awareness campaigns in schools.

Fines for non-compliance will span between 25,000 and 100,000 balboas. Recurrent infractions will result in twice the original penalty or a temporary suspension of business operations.