Sports game insights and South Korea’s gambling law
Analyze sports games – Organized TOTO betting in Korea SportsToTo offers betting on the most popular Korean sports like football, baseball, basketball, volleyball, golf, and ssireum. However, they only have fixed odds and running odds formats. Terminals to bet with SportsToto are found all over the country. Both of these sports betting services are national agencies and the only ones licensed for sports betting in South Korea. However, they are not the most popular gambling websites because of their poor gambling odds and limited sports betting options.
Organized and guided TOTO betting in Korea. There are online bookies that cater to the Asian market. Most Asian bookies are available in the Korean language, making it a great choice for the locals since many of them are still not fluent in English. These sites accept South Korean won (KRW) and local bank transfer with zero fees. South Koreans would find it easier to use. One may find using Asian bookies as a great option for betting on soccer/football. They will be able to bet on Korean leagues, La Liga, English Premier League, Serie A, and Bundesliga among others. Other sports covered by these bookies include tennis, basketball, and baseball.
Article 246 of the Criminal Act states that any person caught engaging in any betting activity for the purpose of earning a profit is punishable by a fine of not exceeding five million won. Gambling activities for momentary pleasure are allowed. Those who are categorized as habitual gamblers can receive a prison sentence of up to three years or be required to pay a fine amounting to 20 million won. The said betting regulations are applicable to all Korean citizens regardless of where they play. The law applies even though the gambling activity is done outside the country’s borders and are strictly implemented to the dismay of many. Koreans face fines and prison sentences even if they engage in gambling activities in Macau or Las Vegas. To date, it is legal to gamble on bicycle racing and horse racing and to bet on basketball, baseball, football, golf, volleyball, and Ssirum, a traditional wrestling regarded as the national sport of the country. The locals can also try their luck in several lotteries. Koreans can legally bet on football, volleyball, basketball, baseball, golf, and Ssirum in two ways: Sports Toto or pari-mutuel betting and Sports Proto or fixed odds betting. In Sports Toto, the punters can place their bets into a pool. Half of the pooled bet accounts for operation costs, duty, and profit margins while the remaining half is paid to the winner of the bet.
This website is a place to analyze sports games in Korea and provide information about each game. Many Korean young people are enjoying it. It is interesting to analyze sports games such as soccer, baseball, volleyball, and basketball. For game analysis and safe play TOTO websites check : 토토사이트의 안전놀이터.
Sports Toto offers many different games and these differ by sport. The part that remains the same for each is that 50% of sales go into a betting pool that is split with all winners. This is proportional to stake and to be a winner you must get 100% of your predictions correct. An explanation of each game is covered below. Soccer Toto offers three different types of games. The main game involves predicting if the home team’s result will be win, draw or loss in 14 different matches. This is essentially a lottery and is very popular here. Despite what other online betting portals might tell you, on average Soccer Toto Win/Draw/Loss Game has better odds than betting 14-fold accumulators online. Online betting sites charge a lot of juice so when betting 14-folds their take often exceeds 50%.
Official Info : The Sports Betting Business is a national project that was introduced in October 2001 in accordance with the National Sports Promotion Act. It is a public service project aimed to successfully host the 2002 FIFA World Cup Korea/Japan and for the development of national sports leisure and sports fund. Ktoto operates as a exclusive licensee of the sports betting business in Korea by the consignment contract with the Licensor, Korea Sports Promotion Foundation (KSPO). The sports betting (Sportstoto) is an advanced sports leisure activity that enables winning prize for accurate prediction of game results of Soccer, baseball, basketball,volleyball, golf and etc. The products are divided into pari-mutuel type of ‘Toto’ and Fixed-odds type of ‘Proto’. The Funds raised through the sports betting business are transferred to the Korea Sports Promotion Fund to be used in variety of Sports promotion projects, such as a support for various international sports events held in Korea as well as professional sports, physically challenged sports, grassroots sports contributing to development and vitalization of Sports in Korea.
The government also block access to some foreign online bookmakers. However, regular, small scale players placing bets with such sites from the safety of their homes are extremely unlikely to be prosecuted in Korea, or any other country for that matter (recreational, not professional, small scale gambling by private persons is not criminalized in Korea). Odds on major foreign online sports books are said to be far superior to the ones offered on the state backed betting games in Korea.