7 Things You Need to Know about Gambling in Korea

Gambling laws across the other Asian countries differ significantly. While certain forms of gambling are allowed within the South Korean context, they are highly controlled. However, the gambling scene in the country has picked up again with new trends evolving within the industry. That being said, here exists a discussion of some of the most important things to know about gambling in Korea.

1. Online Gambling in Korea is Thriving

Online gambling has flared into a worldwide sensation. The creation of online gambling venues has opened doors for players from all corners of the earth, including regions where this activity is illegal. Paltry restrictions in Korea mean that local-based online casinos are actually prohibited, creating a very interesting market for Korean players who are fond of offshore Internet casinos. And the demand is certainly there, indicating that those casinos experience fair regular influxes of new players. The very stringent laws in the country dictate that players can only use the best recommended casino sites that have established themselves at the top of the list for Koreans. The casinos are not bound by gambling regulations that exist within Korea, allowing every Korean to participate. Since the casinos in question accept cryptocurrency payments, players from Korea can casino outside the reach of the country's gambling legislation while shunning the revelatory act of registering with their real names.

2. The Country Allows Some Forms of Gambling

In general, local laws have barred Korean citizens from gambling in a casino, although some types of gambling may not be prohibited. Horse racing is played in a legal manner in Korea, with a long legacy attached to it. It became introduced in the 1890s but merely for entertainment purposes. Betting on horse racing first began in the 1920s and maintains its legality to this day. In the same fashion, Koreans can also lay wagers on sports events, with football being the most favored among betting enthusiasts. They may wager on online betting across regulated casinos in Korea. But, with very few licensed operators in Korea, people mostly bet through offshore betting sites.

3. Lottery is Also Legal in Korea

Another of the few forms of gambling legalized in Korea is the sale of this lottery. The activity commenced in 1969 with the House Lotto and remains very popular today. In fact, it has become fairly large in the country; revenue from the online lottery is expected to reach $76.99 million by 2024. A 2022 statistics report shows that 56.6% of all Koreans aged 19 and above purchased at least one lottery ticket. This amounts to 24 million lottery players in the country. Moreover, 24.4% of those who bought tickets said they tried their luck every week. Earlier this year, there were 63 winners of the jackpot in the South Korean Lotto, each taking away a little over $300,000.

4. Koreans Can Gamble at the Kangwon Land Casino

Kangwon Land Casino is the only premium casino in which country residents can gamble. It is in the Gangwon Province, one of the three self-governing provinces in Korea. Note that the region's name is spelled with both "Kangwon" and "Gangwon," as the two words are different only in English while the two words are pronounced and spelled the same way in Korean. While Kangwon Land Casino cater for local players, it also welcomes tourists. The casino has 200 tables with about 1350 video gambling machines and even has its own VIP section called "The Summitas Club." To gamble in Kangwon Land Casino, you must be at least 19 years old and must provide some form of identification.

5. Other Casinos Catering to Foreign Visitors

We have treated this matter separately because Kangwon Land Casino is the only casino where Koreans are actually allowed to gamble. Nevertheless, these others, too, exist in this country to cater to the tourists from outside, who are lucky to undertake this promotion of their gambling mania within Korean territory. Paradise City Casino in Incheon which features a luxury atmosphere is a must-try. The casino is going beyond traditional services to offer more travel products and AI digital interpretation screens so that foreign visitors can enjoy additional privileges. Most popular among these is Seven Luck Casino located in Seoul, which has 78 table games and 45 electronic tables.

6. Betting on Esports is on the Rise in Korea

To call esports popular in Korea would be an understatement. Many young Koreans are keen to establish themselves in their favorite games, and the capital, Seoul, is littered with PC bangs. Notably, the professional League of Legends players from the country garnered over $37.3 million in awards as of 2024. With esports being huge in Korea, it doesn't come as a surprise that residents habitually bet on it. Popular games among the casino community include League of Legends, DOTA 2, EA FC (formerly FIFA), StarCraft, and many more. According to reports, the Asian gambling market, including South Korea, is more than 50% of esports betting revenue.

7. The Habitual Overseas Gambler Law

As we have stated, South Koreans are not permitted to gamble in casinos that are not under Korean regulations. But what many may not know is that this law is extended during foreign travel. In other words, them gambling in casinos is illegal even when they are in another country. This was best articulated in 2019 when Seungri, a K-pop star, and Yang Hyun Suk, the boss of YG Entertainment, and others were accused of that crime while abroad. However, the two celebrities were being investigated because they had other charges hanging over their heads. It is unclear how often the Habitual Overseas Gambler Law applies to ordinary citizens.

The Bottom Line

Even with strict laws in Korea, however, the gambling scene has expanded rapidly. Koreans are barred from the local casinos but have gone offshore to enjoy internet casinos. They still indulge in the legal sports betting and lottery that are available. We will just have to wait and see if Korea will change its view on gambling, and relaxation in laws will take place. Nothing in the picture seems to support this view, though.

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