Online gambling is legal in South Korea, where it has enjoyed relative legality since the early 1990s. However, it is still widely banned in several other countries. South Korea is often made the headlines for its rocky political relationship with its Northern neighbors, but actually it is one of the most technically advanced nations in East Asia - third only to Japan. While virtual laws have slowly been loosened over time, the same can't be said of online gambling, at least not yet.
The reason for this is very simple; it takes a special breed of entrepreneur to set up an Online Gambling Website in one of the world's most closed societies. It also requires knowing just enough of South Korean law to make it to the opening and ensuring that local customs are not skewed in favor of the local government and its rules. In addition, there are plenty of complicated things to deal with - from setting up bank accounts to ensuring that payments will be honoured, and of course, all the usual paperwork.
Many players move on to different countries that have pro gamer legislation or have local Online Gambling regulation. Still others decide to set up shop in South Korea itself, using their considerable business contacts to build casinos that can offer betting and other services to online casino sites operated by Koreans. Many of these entrepreneurs come from the Asian Financial Service Company- a division of the New York Stock Exchange - which has its main operating headquarters in Seoul. Online Gambling in South Korea follows the same pattern as it does elsewhere in Asia. Private companies and individuals conduct gaming deals with the full knowledge of the local laws, and everyone involved makes sure that they operate within the stipulated framework of the law.
As far as I can see, there is no clear indicator of whether or not Internet gambling is legal in South Korea. Some speculate that it might not be - given the fact that most of the regulatory measures currently in place apply strictly to casinos, and they appear to be rather flimsy if you consider the number of individuals who run their own gambling enterprise from their homes. Others think it's perfectly acceptable. The fact remains that until the Korean government starts drafting its own comprehensive online gambling laws, regulation and law enforcement remains a work in progress.
It is entirely possible that the lack of any legal international association with Online gambling could make conducting such transactions with South Korea rather risky for those wishing to engage in Online 도박 사이트. There are two possible reasons why this might be the case: Either the government may simply be trying to protect its citizens from prosecution by foreign legal firms, or they may not want to open the country up to exposure to the risks of illegal activity. In the later case, as with many other legal issues, there is little that anyone else can do to stop your conduct, and once you have been found guilty there is very little that anyone can do to help you prevent exposure to prosecution. On the other hand, if you have already been exposed to prosecution then the likelihood of your having further exposure is quite high indeed.
Many people new to South Korea online casinos and the country in general should not be too hasty in making their first deposit. There are certainly excellent guides available for no cost on the internet which will teach them all that they need to know to get off on the right footing. The best advice for any new gambler entering the country is to ensure that you use a gaming bank that is operated by a recognized and reputable international company. While there is no real risk of exposure to prosecution, your account could unfortunately be closed by the gaming company at some point in the future without warning, and it would be difficult to get another banking service set up. It is also worth bearing in mind that most South Korean casinos will require that you use either the credit card that was used to make your initial deposit, or a debit card that will give you access to your winnings should you wish to claim them.
No comments:
Post a Comment