Gambling regulation
Gambling in the country:
Licensing
Local License:
KRA
Top payment systems
Top Payment Methods (October 2024):
Слоты по доли рынка
Affiliates receiving traffic
More about gambling regulation
South Koreans are banned from land-based gambling establishments as well as online gambling both in and outside of South Korea.
The ban on iGaming in South Korea, where only lotteries and betting on horse racing, boat racing and cycling are allowed, has been a key factor in increasing interest in online gambling among the public.
Despite fines of up to $14k and jail terms of up to three years for engaging in illegal gambling, more and more of the country's citizens, including children, are gambling on offshore gambling platforms.
About blocking and liability
Medium
Legislation:
Ambiguous / local regulation
The activity of the authorities:
Medium
Risk of harassment of non-residents:
Low
The risk in entering the country:
Low
Risk of extradition to the country:
Medium
Precedents (against non-residents):
No data
Comment on the level of risk:
Republic of Korea: Work with caution; local due diligence is recommended before large-scale campaigns. Risk of extradition to the country is medium - serious cases may be requested from the US, Japan and other partner countries.
Gambling in the country
Police in the country recently arrested 9 people on charges of running gambling sites. The criminal gambling network targeted teens with nine simple, gamified gambling platforms.
On these sites, users could deposit money into an account and receive in return game currency, the total turnover of which amounted to $364 million. About 10,000 deposit accounts were also used for illegal transactions.
The investigation revealed that 171 juveniles were involved in gambling, 163 of which were high school students and eight were middle school students.
Also, as part of a special operation that ran from September 2023 to March 2024 to detect illegal gambling, South Korean law enforcement agencies detained 2,925 players, including 1,035 teenagers. The youngest offender was a 9-year-old elementary school student who bet on $7.40.
In addition, in March of this year, a 44-member criminal gang was uncovered that had been operating an online gambling operation for the past 5 years. The defendants recruited middle school teenagers to attract peers to iGaming.
During police investigations, the suspects admitted that most of their profits came from illegally broadcasting sporting events and collecting money from those who bet on the outcomes of matches.
The ban on iGaming in the country leads to the fact that young people are looking for alternative ways to satisfy their interest in gambling. Thus, the attractiveness of illegal gambling platforms among the population is increasing. In addition, South Korea is a highly developed country: the availability of modern technology and high level of Internet contribute to the rapid spread of gambling.
Blocking offshore products and even fines and jail terms for players do not lead to a reduction in the number of illegal gambling sites in the country.
It is likely that in the near future the authorities will pay even more attention to the problem of gambling, which will lead to the active involvement of both regulatory and law enforcement agencies, the introduction of more radical countermeasures to combat illegal gambling sites, as well as elaboration of the issue through a large-scale social campaign.
Gambling regulation
Gambling in the country:
Licensing
Local License:
KRA
About the population of the country
Official Language:
Korean
Believers:
44 %
Second Religion:
Basic information about the country
Name of country:
Republic of Korea
Code (2-digit):
KR
Continent:
Asia
Capital:
Seoul
Area of the country:
98,480 square kilometers.
Phone Code:
82
Currency (currency code):
Vona (KRW)
Geographical features of the country
City of special status: Seoul.
Directly subordinate city (6): Incheon, Gwangju, Busan, Daegu, Daejeon, Ulsan.
Province (8): Gangwondo, Gyeonggi-do, Gyeongsangnam-do, Gyeongsang-Pukdo, Jeolla-Namdo, Jeolla-Pukdo, Chungcheong-Namdo, Chungcheong-Pukdo.
province of special autonomy: Jeju-do.
The modern territory of the country was partially or fully occupied by the states of Silla, Goguryeo, Baekje, Kaya, Tang Empire, Goryeo, Mongol Empire, Great Yuan, Japanese Empire.
The Republic of Korea is washed by seas: Sea of Japan (East Sea), East China Sea, Yellow Sea.
There are straits in the waters of the country: Korean.
The Republic of Korea owns the islands: Jeju-do, Kojedo, Jindo, Namhaedo, Gangwado, Wedo, Ulleungdo, Baengnyeongdo, Oryukto, Yeonghyundo, Kadokdo.
Discussions on country characteristics
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