Online gambling has been one of the most talked about topics in the world since the Internet was introduced. With more people gaining access to the Internet on a regular basis, many countries have made it illegal to operate casinos online. In the US this includes states such as Nevada and New Jersey, while in other countries this includes Australia, Canada, and Ireland. Although there are some grey areas in many countries surrounding online gambling, it is still legal in almost all the world.
There are two distinct types of gambling that are illegal in South Korea: land-based and online casino sites. There is no special law preventing operators of online casino sites from operating legally. In fact, some speculate that the law was written with an intent to legalize online gambling and to encourage foreign investment in the country. The reason behind this is that South Korean regulations don't make a difference between online and land-based gambling. According to Article 715 of the Criminal Code, anybody running an illegal gambling enterprise in South Korea is automatically subject to criminal arrest and faces up to 30 years in prison and/or KWD 30 million (approx. ).
On the other hand, there are some gray areas surrounding South Korea's legalized online gambling industry. For example, betting through brokers or banks is not illegal in South Korea but brokers and banks can still be prosecuted for facilitating gambling activity. This is different from the US where betting on sports events is against the law, but sports books can be prosecuted for running sports events in violation of the law by requiring money upfront to bet on a certain team or player. Gambling money is allowed and even encouraged in Korea where it is convertible into cash within a day so that it can be withdrawn for gambling purposes. However, the same can't be said for deposits to casinos, lottery tickets, etc.
In order to be able to run a legal gambling business in Korea, a license is required by the Korea Financial Supervision Agency which has been imposed by the Republic of Korea and its National Assembly. To become qualified for the license, the applicant needs to demonstrate that he has the financial capability to fund and support the operation and development of the gambling establishments. The applicant is also required to submit detailed reports and accounts of his business operation in order to show that he is really earning money out of his gambling ventures. These reports are often audited by the local court, which ensures that the operator is not cheating anyone out of his money.
With the liberalization of laws allowing online casinos in Korea, the number of gambling sites increased tremendously. These included some well known names like tonga engleski, tonga merry, eurogaming, etc. Unfortunately, many people from the country do not have any experience or knowledge about these 도박 사이트, so they do not venture to register and play at them. For this purpose, they seek the services of a gaming agent who is licensed and specialized in operating the Korean-based online casinos. The gaming agents have been categorized into two categories namely the brick and mortar casinos and the online casinos.
Online gambling has made many things possible again. It brought new opportunities for the people to earn a living and generate some side income while they continue working. Online casinos are indeed helping people in many ways and one of them is the development of betting industry in Korea. Betting in the traditional way was limited to only a few rich people, but now anyone can enjoy the fun and excitement of betting through online casinos. These changes have been made legal and permitted by the government in order to improve the standard of living and the quality of life in Korea.
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