Panama Licensed Bitcoin Betting Sites

Licensed in PanamaYou can find the list of Bitcoin Betting and Bitcoin Casino sites with Panama iGaming license at this page.

Panama adopted regulations governing the licensing of electronic games of chance and wagering activities in late 2002. The regulations allow master licenses to be granted that are valid for up to seven years upon payment of a license fee of $40,000. There is also an annual license fee of $20,000.

Panama master license holders may grant sub-licenses, which are subject to the annual fee. Applicants must pay all investigation costs incurred in the processing of the application. Panamanian tax policies allow Internet gaming companies to operate essentially tax-free when accepting foreign wagers.

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How reliable is a Panama Gaming License?

Panama has been licensing online gaming sites since 2002. With the Online Gaming Act of 2002, they have the right to license online betting and casino sites and let them offer their services to the rest of the world. It is not a popular choice amongst casinos and players as it is not cheap to get for casinos and it does not have much trust value for players. But this does not mean that it is a reliable one.

Why do Bitcoin Betting sites get a Panama License?

Due to more regulated online gaming jurisdictions like Malta and Curacao not allowing their licensees to operate into US Territories, some US Friendly operators choose to get a Panama Gaming License.

How can a Bitcoin Betting site get a Panama license?

Panama has the master license system where the master license holder issues sub licenses to other operators. It is basically Panama government outsourcing the online gaming licensing business to master license holders and letting them all the work. A Bitcoin Betting site should apply to grant sub-license through master license holders. The application fee is $40.000 followed by $20.000 yearly fees.

Can a Panama Licensed Bitcoin Betting site cover all jurisdictions?

Yes they can. Panama does not care about which countries the betting site targets. That's why the Panama license holders can even target US customers.
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