I’m a Bookie…Get Me Out of Here: Korea (That Would be South Korea)

Written by:
Guest
Published on:
May/16/2017

If you are a bookie in South Korea, you could face some pretty stiff prison time. 

While seen as a mostly progressive country, not so when it comes to gambling.

And South Korea is not afraid to make examples of those who engage in the illicit activity.

This week we are learning that former idol and a member of the group M2M, Jung Jin Woo, has been convicted and sentenced to a one year prison term on spending around KRW3.4 billion or US$3 million on betting via illegal gambling sites.

Before crying a tear for Woo, it has since been reported that he initially attempted to throw his own stepfather under the bus by claiming it was he who bet on the illegal websites.

Previously a Korean cosmetics boss had been convicted for gambling, not in South Korea proper, but overseas.

But how could this be?  After all, South Korea is home to some 17 casinos.

Sure, but those are for tourists only.  Only one, in Kangwon Land, is open to locals.

Online casinos operating from the region are widely believed to have ties to organized crime figures.

Sports betting, unlike casino games, is actually legal in the country.

Before 1997, all gambling in South Korea, with the exception of betting horse, boat and bicycle races was banned.  The introduction of SportsToto in 1997 now permits punters to place wagers on sporting events.  Their terminals are dispersed throughout the country now.

But once again, bookies will likely have some ties to organized crime outfits or otherwise be beholden to do so (for their own protection of course).

- Jagajeet Chiba, Gambling911.com

Gambling News

Playboys Bypass The Storm Playing Sexy-Themed Slot Machines

Playboys Bypass The Storm Playing Sexy-Themed Slot Machines

Perhaps, there is nothing that brings high returns in any selling experience than sex. Because many producers know this fundamental truth, whether it is music, TV show, writing a book, and even producing films, there is an inclusion of the slightest degree of sex also if it is not seen.

Do Not Disturb: Caesar's Still to Enter Guest Rooms Every 24 Hours

Forget sleeping in late or enjoying some peaceful time in your hotel room... at least if you plan on staying at a Caesars Entertainment property.

William Hill Set to Return to Profit Following Online Overhaul

William Hill Set to Return to Profit Following Online Overhaul

The online bookmaker William Hill has improved some of its website features and anticipates a return back into the black as a result.

Bitcoin Goes Nuclear Presidents Day Weekend Trading To $11,000 Mark

Bitcoin Goes Nuclear Presidents Day Weekend Trading To $11,000 Mark

The recent price fluctuations in the Bitcoin Price Index has been a wild ride in recent months. New lows signaled a possible bear market, while renewed hopes of a long-term bullish run have resurfaced in recent trading activity.

Malta Looks to Root Out Italian Mafia Influence in Online Gambling

Malta Looks to Root Out Italian Mafia Influence in Online Gambling

The Government of Malta is looking to aggressively pursuit online gambling companies it deems to have ties to Italy's Mafia.

Syndicate