Everything You Should Know About Gambling in South Korea

It is vital to understand that gambling in South Korea is not legal for everyone. In general, it is allowed only for visitors and foreigners, because their policy is to make money from others so that they can boost the economic perspective of the areas with casinos.

However, you should know that these countries do not allow residents to enjoy gambling activities in legal and real casinos, which is the main reason why most of them go abroad or use VPNs when it comes to playing online.

Remember that there is an exception to this rule, and in some cases, locals are able to take a bite of this particular fruit so that they can enjoy excitement and pleasure that comes with casino games.

The best way to understand everything about South Korean gambling law is by clicking here.

South Korea is much more liberal than North Korea when it comes to gambling laws, which means that they feature some forms of entertainment that people can use so that they can improve their lifestyles.

Legal Ways to Gamble in South Korea

  • Online Casinos – These are not available for both residents and foreigners, which is why most people choose the ones from the closest countries that have lower issues with this particular form of entertainment.
  • Land-Based Casinos – Foreign visitors have the ability to choose numerous casinos where they can enjoy games of chances that are popular internationally including poker, blackjack, roulette and many more. At the same time, there is only one casino that lets the Koreans play, and the interesting fact is that it makes more annual income than all other casinos together.
  • Bingo – It is not available.
  • Horse Betting – It is one of the oldest and most popular forms of betting in South Korea that existed from the beginning of the 20th century and even before.
  • Lottery – Finally, you will be able to play this particular popular game, which is provided by LOTTO Co. Ltd.
  • Sports Betting – When it comes to sports betting, you can enter the link we will share with you (메이저사이트) so that you can find the latest games and options available.

Even though North Korea comes with cruel laws and regulations for casino gambling, these things are not the same in South Korea, because according to regulations, residents and natives can play in one casino called Kangwon Land.

We have mentioned above that this particular casino is the largest venue in the country and it generates almost 50% of the entire gambling revenue South Korea makes on an annual basis.

Remember that Korea features Habitual Overseas Gambler law bars that forbid Koreans to engage in gambling activities all across the globe. However, it is not certain how law enforcement can act in these situations.

The idea of online betting is also prohibited unless you have a domestic license, and that is monopolistic perspective that only government can determine and create.

The Gambling Laws in South Korea

If someone is caught doing it illegally, the minimum charge is RKW five million that is approximately five thousand dollars.

It is all stated in the Criminal Code laws, and if the players are caught again after the first fine, the second one can reach up to twenty thousand dollars and three years in prison.

Everything changed when the government created a precedent in 2012 that includes softer regulations when it comes to gambling in general.

Since then, in Seoul, you can find high stakes poker tournaments sponsored by foreign gambling industries in players have the entrance pot of three thousand dollars.

One of the biggest reasons for banning luck games in Asia is due to religious perspectives.

However, South Korea is different, because more than half of residents do not share the religious perspectives as other countries, which means that the main reason for illegality is due to governmental worries that gambling may take a toll on social happiness.

The things are different for foreign visitors, because they have the ability to play in any land-based casino in the country, and according to statistics, today, they can choose 13 of them.

Other reports state that most foreigners include Chinese people because they have limited options when it comes to chance games in their own country because they can play only in Macau.

Check out this site: https://www.bloomberg.com/news/articles/2019-09-11/the-24-billion-online-casino-boom-china-is-struggling-to-halt to learn everything about the Chinese gambling laws.

Other Forms of Gambling

When it comes to other forms of gambling, you should remember that the government allows cycle racing, motorboat racing, and sports betting and everything is regulated by Ministry of Culture, Sports and Tourism.

At the same time, traditional bullfighting and horseracing are also popular ways of betting and they are regulated by Ministry of Agriculture. The lottery is also popular but only a single company can do it.

Because it comes with a small choice of games, you can find companies that will provide you illegal betting within the country. According to reports, more than $66 billion dollars pass through this particular industry, and everything goes into hands of criminals.

Finally, South Korean laws do not feature distinction between online and land-based gambling. It is highly important and clear that everyone who gambles illegally will be prosecuted if caught.

We recommend you to always take repercussions before you choose an online casino because gambling laws and regulations can be confusing and that affects only players and not establishments.

Traditionally, most people disapprove of this particular industry in South Korea, but the problems with the illegal market and high amount of funds affect its economy. The South Koreans are conservative, so the next generation may change the outcome of these laws.

However, if you are native, you can go to one legal casino so that you can enjoy games on luck.

On the other hand, if you are a foreigner, you do not have to worry, because you will be able to choose approximately thirteen casinos that will provide you the same enjoyment as anywhere in the world.

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