7 Things You Need to Know about Gambling in Korea

Gambling laws across Asian countries differ significantly. South Korea is one of those that allow certain forms of the activity but under strict regulations. Despite this, with the new trends emerging in the industry, the gambling scene in the country is on the rise. With that said, let’s look at some of the most important things to know about gambling in Korea.

1. Online Gambling in Korea is Thriving

Online gambling has taken the world by storm. The emergence of online casinos has opened the doors to players from all parts of the world, even those in which the activity is considered illegal. Korea doesn’t allow local-based online casinos to operate, but that doesn’t mean Koreans can’t play in offshore online casinos. In fact, these have proven to be quite popular in the country, with many of them regularly attracting new players. Given the country’s strict laws, players should only gamble at recommended casino sites that have established themselves as the top options in Korea. These casinos aren’t bound to the country’s gambling laws and accept all Korean players. Additionally, since they accept cryptocurrency payments, players from Korea can gamble anonymously and never input their personal info when registering.

2. The Country Allows Some Forms of Gambling

As mentioned earlier, Korean laws don’t allow its citizens to gamble at casinos but some forms of gambling aren’t prohibited. Horse racing is one of the legal activities and it has a long history in the country. The sport was introduced back in the 1890s but for entertainment purposes only. Betting on horse races made its debut in the 1920s and remains legal to this day. Similarly, Koreans are allowed to bet on sports, with football emerging as the most popular sport among gambling enthusiasts. While they can place bets online, they can only do so in casinos regulated by the government. With a limited number of licensed operators in the country, they often turn to offshore sports betting sites though.

3. Lottery is Also Legal in Korea

Lottery is another one of the few forms of gambling allowed in Korea. The activity was first introduced in 1969 through the House Lotto and remains extremely popular today. In fact, the lottery scene in the country is quite big and the revenue from online lottery is expected to reach $76.99 million in 2024. Statistics show that 56.6% of all Koreans aged 19 and above have purchased a lottery ticket in 2022. This amounts to about 24 million lottery players in the country. What’s more, 24.4% of those who purchased tickets said they tested their luck every week. Earlier this year, 63 winners won the South Korean Lotto jackpot, with each of them taking home around $300,000.

4. Koreans Can Gamble at the Kangwon Land Casino

The Kangwon Land Casino is the only casino in which the country’s residents can play. It’s located in the Gangwon province which is one of the country’s three provinces that hold a self-governing status. Note that both “Kangwon” and “Gangwon” are used to refer to the region as both words are spelled and pronounced the same in Korean. While the Kangwon Land Casino is open to local players, it also caters to tourists. It’s the home to 200 gaming tables and over 1,350 video gambling machines. It also has its own VIP section called “The Summitas Club”. You have to be at least 19 to gamble at the Kangwon Land Casino and identity verification is mandatory.

5. Other Casinos Catering to Foreign Visitors

We mentioned the Kangwon Land Casino separately as it's the only casino Koreans can gamble at. However, the country is the home to many other casinos which are open for tourists looking to test their luck while exploring the country. Paradise City Casino in Incheon is one of the most popular options, best known for its luxury atmosphere. The casino is now looking to go beyond traditional services and introduce improved travel products and AI digital interpretation screens to offer more benefits to foreign visitors. Seoul’s most popular casino is Seven Luck Casino which operates 78 table games and 45 electronic tables.

6. Betting on Esports is on the Rise in Korea

To say that esports are popular in Korea would be an understatement. More and more young Koreans are looking to prove themselves in their favorite games and the country’s capital, Seoul, is littered with PC bangs. Additionally, professional League of Legends players from the country have brought home over $37.3 million so far in 2024. With esports being huge in Korea, it doesn’t come as a surprise that residents often bet on it. The most popular games among casino enthusiasts include League of Legends, DOTA 2, EA FC (previously FIFA), StarCraft, and more. According to reports, Asian gambling markets, including South Korea, account for more than 50% of all esports betting revenue.

7. The Habitual Overseas Gambler Law

As we’ve already said, Koreans aren’t allowed to gamble at casinos not regulated by the country. But what you probably didn’t know is that this law extends even when traveling overseas. In other words, it’s illegal for Koreans to gamble at casinos even when they’re in another country. This was best showcased in 2019 when Seungri, a K-pop star, and Yang Hyun Suk, the CEO of YG Entertainment, among others, were accused of engaging in the activity while overseas. However, both celebrities mentioned were looked at as they were facing other charges. How often the Habitual Overseas Gambler Law is enforced for regular citizens is unclear.

The Bottom Line

Despite strict laws in South Korea, the gambling scene in the country is on the rise. While Koreans aren’t allowed to play at local casinos, they’ve found a solution in offshore online casino sites. In addition, they remain loyal to activities that are legal in the country, such as betting on sports and playing the lottery. We’ll have to wait and see if Korea’s stance on gambling will change and more relaxed laws will be introduced, but nothing indicates such changes are on the horizon.

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