As you know, the 2018 Winter Olympics, which was held in South Korea, has boosted the country’s economy to a whole new level.
Not only fans but athletes and journalists from all over the world get the residence for a brief time in the country. South Korean market embraced them with open arms as Alpensia in Pyeongchang was the bustling nerve center of the games.
As games came to the country with the athletes, the gambling industry showed their active actions too. There were many casinos who offered their service to foreigners. All these casinos had their huge signs advertising dotted around Alpensia, offering their different services to the gamblers. But the thing to notice was that these casinos were only for the foreigners, and no Koreans were allowed. The advertising also showed that only foreigners are welcome in the casinos and not Koreans.
This thing again reopened the debate around South Korea’s gambling laws. This was the pure example of peculiar duality where tourists are allowed to gamble, but locals are not. But why the country has such a hard-line stance on gambling for locals? South Korea is surely missing out on economic benefits as a result of their gambling laws.
Background of Korean Gambling
Some of the legal forms of gambling in South Korea are lotteries, horse racing, boat racing, and cycling. Casino Gambling is strictly prohibiting in the country. A local, if arrested while gambling at a tourist casino, can face a three-year prison sentence. And in case if any citizen of the country is found to be gamble overseas, he is not allowed to return to the country. He can face prosecution on their return to the country. However, these charges are not brought through regularly.
In the country, there are a total of 23 land-based casinos. Out of these 23, only Kangwon Casino allows Koreans to gamble. It is difficult to get there as it is located far north of the major cities. This is must be the reason why Koreans are allowed to gamble there.
The average Korean is two to three times more likely to suffer from gambling addiction than any other nationality. This is according to a study by the Korean Center on Gambling Problems. Korea Gambling has been a big issue for locals as well as foreigners. But the 토토 websites like Tosafe114 are the best when it comes to sports gambling.
Online Gambling in South Korea
In South Korea, online gambling is strictly illegal. The government is taking an active role in policing the gambling rules. South Korea’s NIS (National Intelligence Service) has recently reported that North Korea has started to operate different online gambling sites. These websites are targeting South Korean players and also the punters in China and Malaysia. Through this, they are earning revenue to power the North Korean regime.
To offer casino games to South Koreans who are not subject to the Gambling law of South Korea, several international companies are developing online websites. These websites have different casino games and slot games that are engaging and are themed across a variety of niches. From music to movies and more, they have every type of niche for you.
However, as the government has either blocked these sites or purposely slowed connections to their servers, it has become difficult to register and play with these companies. But South Korean, even though due to restrictions from the government, gambles online with the use of VPNs to change their location. Illegal South Korean gambling providers have an underbelly that offers their services on the internet. But they are liable to prosecution from the state just like their customers. There are many high-profile examples where the government has cracked down on both gambling operators and players in different regions. This shows that most of the reputable operators who are premium users steer well clear of the market. They can also be prosecuted for entering into it simply.