South Koreans enjoy gambling as a pastime. Gambling in the country, however, is challenging due to legal hurdles. South Koreans and foreigners alike who are interested in playing casino games or sports betting online still have to be aware that it remains a risky venture within the country. There is still a strict taboo against gambling amongst the South Korean people because the majority of land-based casinos cater to tourists and long-term ex-pats who reside in the country.
Gambling regulations are strict in South Korea. For legal gambling, Koreans can only visit Kangwon Land Casino on the outskirts of Seoul. Playing at Kangwon Land Casino is protected by the Special Act on Assistance to the Development of Abandoned Mines. It is strictly forbidden to gamble with overseas sportsbooks online, and authorities closely monitor such activities.
Non-Koreans abroad are not subject to Korean Law while they are vacationing or visiting the country, and tourists and ex-pats may gamble at all casinos in the country.
Is it possible for South Koreans to gamble?
South Korea is regarded as one of the most advanced countries in East Asia. Those who break the law are punished harshly by the law in Korea since gambling is illegal. There is no gambling allowed inside or outside of the country for citizens. Traditional-style casinos usually only allow tourists to play.
Foreigners and citizens are welcome to wager on their favorite games at Kangwon Land Casino, South Korea’s largest casino. It is situated in Gangwon Province. Its location makes it difficult to reach, and very few citizens can travel there. In spite of the harsh rules, gambling is still popular in South Korea. A wide variety of forms of gambling are practiced by citizens, including horse racing, boat racing, lotteries, and dog racing.
South Korean online gambling
Gambling online is illegal in South Korea. Most citizens, however, go the extra mile to sign up for offshore accounts and play their favorite casino games. South Korea’s government has worked tirelessly to crack down on online casinos, but it has been very difficult to blocklist all of them. You can find a guide on Korean online casinos that can help you navigate them and learn more about them.
Citizens hide their identities using advanced methods such as VPNs. The advancement of technology in gambling has also made it possible for South Korea to offer online gambling.
Cryptocurrencies, for example, have made gambling more anonymous. Decentralized crypto is also uncontrollable by governments and banks. South Korea has one of the most advanced tech cultures in East Asia, so it may be impossible to eradicate online gambling as the government imposes strict regulations on its citizens while tourists are allowed to gamble freely.
The case for legalizing gambling in South Korea
Many investors around the world are attracted to gambling due to its lucrative nature. There are still some investors who are willing to risk their lives and wealth for the gambling industry in South Korea, despite the strict rules. A total of $43.6 billion was generated by gambling in the United States. US gambling revenue is expected to reach $44 billion by 2021. Aside from that, the industry has created jobs for a large number of citizens.
Several Canadian states that had deemed gambling illegal have begun accepting it. Several bills have been introduced in Poland’s parliament to amend strict gambling rules. There should be a phased opening of South Korea’s gambling market, instead of opening it all at once. Gambling addiction is being addressed by the Korean government with stringent measures. Gamblers should, however, be taught the negative effects of gambling and be encouraged to gamble responsibly.