Casino gambling is a popular sport globally in Korea and dates back to many years ago when technology was limited. Even though gambling is a popular sport globally, each country has its own rules and regulations that govern the activity.
Before diving into the casino rules and regulations in Korea, it is essential to understand that gambling may have numerous advantages and few disadvantages. Among the benefits of casino gaming is that it promotes positivity and also improves socialization which is an excellent tool for enhancing mental wellness.
However, the most significant disadvantage of casino gambling is that the activity may be addictive to some people because of the high probability of making a massive win from a small amount. The thought of overnight success from casino gambling has led to the growth in the number of addicted people.
Korea is among the few countries of the world that draw a line between Korean citizens and foreigners when it comes to matters of casino gambling. According to our discussion with expert An Jun Sung, Korean citizens are entirely prohibited from any form of casino gambling, while it is fully legal for foreigners to gamble in any casino in Korea’s jurisdiction.
Korean Gambling Law
Korea has one of the strictest casino rules and regulations with citizens being subject to prosecution and being charged. However, overseeing prosecution for its citizens may not be purely on gambling but rather substantial allegations of offenses committed by the individual.
The Korean gambling law is, however, not applicable in Kangwon Land. This casino is the only place where Korean nationals are fully legalized to participate in casino gambling. The Kangwon Land Casino is a product of a legal framework by The Special Act on the Assistance to Development of Abandoned Mines, which allows Korean nationals to play in the casino legally. The Kangwon land casino is located deep down in South Seoul.
The only people who are not limited by the Korean gambling law are foreigners. Casinos for foreigners in Korea have been legalized and promoted by the Tourism Promotion Law, which legalizes any gambling activity, including casino gaming, by Korean foreigners.
Though casino gaming in Korea is limited for citizens, they are fully allowed to gamble via horse racing, cycle racing, powerboat racing, ToTo, and lotteries only. 대부분의 한국인들은 https://kr-casinos.com/ 에서 높은 평가를 받은 곳에 한해 한국인들을 받아들일 수 있는 평판이 좋은 플랫폼의 온라인 카지노를 고릅니다.
Within Seoul and in many major cities, Koreans have the opportunity to gamble via lotteries, ToTo, horse racing, powerboat racing, and cycle racing only.
Overview of Gambling Regulation in Korea
As earlier said, gambling may raise social concerns mainly because it is highly addictive. The only way to control gambling is either by banning it entirely or imposing a heavy online gambling regulation. The government regulation comes in the form of licensing. Any gambling company must acquire a license from the concerned government venue before operating in a country. Governments may also impose heavy taxes on gambling companies to limit the prevalence of gambling in their jurisdictions.
Crime of Gambling
The Crime of Gambling is clearly outlined in the Criminal Act  of the Korean constitution, and players looking for the best ways to gamble online should understand it. The Act clearly states that it is illegal to gamble or set up a gambling venue, and both activities are punishable by law.
Gambling and Habitual Gambling (Article 246 )
(1) Any Korean national who commits the offense of gambling shall be found guilty of the crime of gambling and is punishable by a fine less or equal to ten million won. If it is proven beyond reasonable doubt that the person was merely gambling to pass the time, all the charges shall be dropped, and they will not be charged.
(2) Any Korean national who regularly gambles or is found in repeated violation of the crimes in paragraph (1) is guilty of the crime of gambling and should be sentenced to serve an imprisonment of a maximum of three years or a maximum fine of twenty million won.
Setting up Places for Gambling, etc. (Article 247)
Any Korean national who sets up a gambling venue with the sole motive of personal gain is guilty of the crime of gambling and is eligible for prosecution. The maximum sentence for this charge is imprisonment for five years or less, or a fine, not more than thirty million won.
Even though the law is strict on gambling, there are exceptions for casual games that carry small bets. These kinds of bets are not punishable by law. In a recent case, the supreme court ruled that a bet placed by two golfers was not illegal as winning depended not on luck but each player’s skill.
The government has also excluded some gambling activities that it operates from the Korean gambling law. These gambling activities that are operated and regulated include govt licensed casinos that only allow foreign investors, lotteries, Lottos, canoe sprints, cycle racing, and horse racing. It is fully legal to bet a small amount of money in these government-regulated gambling avenues.
There are currently seven legal gambling industries in Korea’s jurisdiction, which include the Lottery Commission, The Korea Sports Promotion Foundation (KSPO), and The Korea Racing Authority (KRA).
The only legal gambling websites are the Korea Sports Promotion Foundation and the Betman website, which allows for a maximum possible winning of 100,000 won. There are, depending not on luck but numerous illegitimate websites where people can place any bet amounts with no limits and have the chance to win unlimited amounts.
Illegal Gambling in Korea
Due to the strict nature of gambling rules and regulations in Korea, the number of illegal gambling platforms in the region has continued to increase, which calls for close scrutiny of the future and casino industry. In recent years, illegal gambling venues have developed numerous ways to escape being caught by the police.
The significant rise in technological advancements in the region has also contributed to new ways of evading government scrutiny. Recently, the National Gambling Control Commission released a report that indicated that the amount circulated in illegal gambling avenues in Korea was approximately 81.5 trillion won, which is close to four times the amount generated from online gambling.
The Korea Sports Promotion Foundation also released a report where they noted that the illegal gambling market in the country was experiencing an incredible growth of 288%. The growth in illegal gambling avenues in Korea can be attributed to poor and underdeveloped gambling control units, leading to a poor monitoring system.