Online Casinos in Korea – Do They Really Exist?
In case you do not know it yet, nowadays there are many casinos in Korea with the same basic rules as those of the casinos located in the US, UK and Canada. Simply because each one of these countries’ governments have enacted legal framework wherein gambling is strictly prohibited except for licensed gaming establishments. This has made the whole Korean world of casino and poker gaming industry very big and prosperous. The majority of the world’s famous and top casinos are now operating in Korea.
The emergence of casino korea was indeed a major breakthrough for the gaming industry in south Korea. Once the industry first exposed in 1992, only three gambling houses were incorporated. However, today there are over 20 such establishments which employ over 1000 people. Such may be the proliferation of the that even Seoul-based in fact hosts the largest amount of such gambling hubs on the planet. And to cap it all, many of these established casinos are actually open throughout the year.
Another area where the Korean online casino business has flourished is in the realm of internet casinos. Nowadays there are plenty of well-established sites with millions of players all across the country. You can find no laws that govern this type of casinos, just like the one implemented in south Korea. Since there is absolutely no regulation concerning the registration of these companies, they are free to engage in conduct that is deemed acceptable by the Korean government. Needless to say, the local governments in each one of the areas where these companies operate have their own sets of regulations regarding the deposit and withdrawal of funds from their finance institutions. Thus, every time a player deposits funds into his or her own Korean casino account, it is essentially being done in line with the rules and regulations governing regulations in the particular area.
The Korean version of online casinos, however, differs in that they do not offer the option of free deposit. Players have to first register with the web site of the particular casino to become in a position to make deposits. Then, after registering, they are able to either create a single or multiple deposit for the overall game they have selected to play. After making the said deposits, players can now either use their bank cards or the cash equivalent to their credit cards.
You can find three major differences between the Korean version of online casinos and those in america and Europe. First, in Korea, gamers are just necessary to be of legal age and are not subject to taxes either. This is why the average income among gamers in Korea is quite high. And second, unlike in america and Europe, there is no requirement of a gambling age among Korean women as well.
Furthermore, there are certain measures that are targeted at preventing underage gamblers from accessing online casinos. First, generally in most of the country’s provinces, there are anti-gambling cyber squads that police gaming websites and their operators. These cyber squads are made of specialized personnel that are specially trained to combat the occurrence of online casino frauds. Also, they are tasked to handle cases of harassment through email or other means. Gamers are strictly enjoined against engaging in any activity that may result in violation of their country’s laws.
The second thing that sets Korean casinos apart from most casinos all over the world is the fact that they’re owned and operated by the Korean government. Because of this unlike many casinos outside the US and Europe, there are no American or European tax havens which are used by Korean casinos. This is primarily because the Korean government comes with an absolute control over the country’s casinos. This also means that the Korean government limits the quantity of casinos which can be opened and operates. This also has the added aftereffect of minimizing the risks of fraud, which is among the major problems plaguing many Korean casinos.
Overall, it can be said that online casino sites in Korea are legal and safe for several Korean players. However, the problem of gambling itself is still a controversial issue in the united kingdom. Many Koreans fear that online gaming can lead to addiction. To curb this, the Korean government has implemented many different restrictions on what online casino sites run their operations. Most significantly, many Korean players refrain from playing at these sites till such time because the laws on gambling are liberalized in the united kingdom.