In 2018 the winter Olympics boosted South Korea’s economy as all those interested in the Olympic Games set residence in the country. This saw the gambling industry get into action. In Alpensia in Pyeongchang, the center of the games had signboards all over advertising available casino offering foreign services. The contrasting thing is that the casinos were strictly for foreigners and not Koreans. This opened up a hot debate on the Koreans gambling law on why foreigners should be allowed to gamble while Koreans are left out. South Korea has been having strict rules on gambling.
Gambling background in South Korea
We have legalized gambling in South Korea; these are cycling, lottery, boat racing, and horse riding. However, there are very strict measures on casino gambling, and if a local is found in the tourist casino, the action is taken against the person. The consequence of being found in a casino as a Korean is that you might face a sentence that will result to three years imprisonment. Besides, any citizen that gambles in a foreign country will still face charges on his or her return. There is only one casino that allows Koreans to gamble that is Kangwon casino of which is hard for many Koreans to access it. It is located far away from the main cities that limiting its access.
The online gambling
Online gambling in South Korea is highly prohibited, with the government taking responsibility to put up policies. Korean national intelligence noted that some countries have been trying to run some gambling sites illegally their main target being the South Koreans. Other international gambling sites offer South Korean gambling services as they are not answerable to the South Korean laws. However, it might not be easy to access these sites as their access has been restricted by the government. But South Koreans still have tricks like the use of VPN to hide their identity and location. There are also other illegal gambling providers that offer online gambling platforms in South Korea, if one is found they will also face the charges per the law.
The reason South Korea should legalize gambling
Gambling is a money-making venture and can help in revenue accumulation. In some countries like the UK, they have earned an annual gross income of £15billion. The industry will create employment, and the taxes collected will help in boosting the country’s economy. Some gambling sites run charity programs that support the community by improving their welfare. Legalizing gambling will make citizens even more knowledgeable on the risks that are associated with gambling. Where gambling is legalized, it is easy to educate the citizens and make them aware of responsible betting. Allowing gambling will have more economic benefits, and the gamblers will also be protected.