Less discussed is which part of the industry these changes apply to most directly, and what they mean in practical terms for the companies operating digital gambling platforms in and from Panama. Panama’s legislative changes apply primarily to the digital segment of the gambling industry, a category more precisely described as iGaming. The friction of onboarding is one of the most commercially sensitive variables in online gambling. Gambling operators across Latin America have historically relied heavily on promotional activity, welcome bonuses, and media presence to acquire new players in competitive markets. Mordor Intelligence’s online gambling market research puts the Latin American online gambling market on a trajectory from $5.33 billion in 2024 toward $10.4 billion by 2030, growing at nearly 12% annually.