Online Gambling

Online Gambling in Panama

Online gambling is also legal in Panama. The government has been issuing licenses to local and foreign companies since April of 2002 which authorize them to offer gambling services over the internet from websites hosted in Panama.

Internet gambling laws in Panama are extensive and complicated, but they allow players to take part in legal online wagering in Panama.

Online gambling companies operate more or less tax free when dealing with foreign gamblers. Locals also have it good, as they are able to participate in internet gambling as well.

This gives players a wide range of choices when it comes to online casinos in Panama - either use local gambling websites or, for more variety and a larger player base, enjoy foreign online gambling websites.

Until the late 1990s, Panama's casino industry was owned by the country's government. At the end of the decade, however, gaming establishments were privatized. Today casinos, slot halls, horserace betting, and sports wagering are all legal in the country.

About Panama

Panama, officially known as the Republic of Panama, is the southernmost country of Central America.

Situated on the isthmus connecting North and South America, it is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south.

The capital is Panama City. Explored and settled by the Spanish in the 16th century, Panama broke with Spain in 1821 and joined a union of Nueva Granada, Ecuador, and Venezuela - named the Republic of Gran Colombia. When the latter dissolved in 1830, Panama remained part of Colombia. With US backing, Panama seceded from Colombia in 1903.

The Panama Canal was built by the US Army Corps of Engineers between 1904 and 1914. In 1977, an agreement was signed for the complete transfer of the Canal from the US to Panama by the end of the century.

Today, revenue from the Canal tolls represents a significant portion of Panama's GDP. Panama has the third or fourth largest economy in Central America and it is also the fastest growing economy and the largest per capita consumer in Central America.