Online Casinos in Korea – Do They Really Exist?
Just in case you do not know it yet, nowadays there are many casinos in Korea with exactly the same basic rules as those of the casinos located in the united states, UK and Canada. This is due to each one of these countries’ governments have enacted legal framework wherein gambling is strictly prohibited aside from licensed gaming establishments. This has made the whole Korean world of casino and poker gaming industry very big and prosperous. A lot of the world’s famous and top casinos are actually operating in Korea.
The emergence of casino korea was indeed a major breakthrough for the gaming industry in south Korea. Once the industry first opened up in 1992, only three gambling houses were incorporated. However, today you can find over 20 such establishments which employ over 1000 people. Such may be the proliferation of the industry that even Seoul-based in fact hosts the largest amount of such gambling hubs on the planet. And to cap everything, many of these established casinos are actually open all year round.
Another area where the Korean online casino business has flourished is in the realm of internet casinos. There are now many well-established sites with millions of players all across the country. You can find no laws that govern these types of casinos, similar to the one implemented in south Korea. Since there is absolutely no regulation regarding the registration of these companies, they’re free to take part in conduct that is deemed acceptable by the Korean government. Needless to say, the local governments in each of the areas where these businesses operate have their own sets of regulations regarding the deposit and withdrawal of funds from their financial institutions. Thus, every time a player deposits funds into their own Korean casino account, it is essentially being done according to the rules and regulations governing the law in this area.
The Korean version of online casinos, however, differs for the reason that they do not offer the option of free deposit. Players need 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 make a single or multiple deposit for the overall game they will have selected to play. After making the said deposits, players can now either use their credit cards or the cash equal to their bank cards.
You can find three major differences between your Korean version of 올인 119 online casinos and those in the usa and Europe. First, in Korea, gamers are just necessary to be of legal age and are not subject to taxes either. That is why the common income among gamers in Korea is quite high. And second, unlike in the United States and Europe, there is no requirement for 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 who 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 around the globe is the fact that they’re owned and operated by the Korean government. This means that unlike many casinos outside the US and Europe, there are no American or European tax havens which are used by Korean casinos. That is primarily because the Korean government comes with an absolute control over the country’s casinos. This also implies that the Korean government limits the quantity of casinos that could be opened and operates. This also has the added effect of minimizing the risks of fraud, that is one of the major problems plaguing many Korean casinos.
Overall, it could be said that online casino sites in Korea are legal and safe for all Korean players. However, the issue of gambling itself is still a controversial issue in the country. Many Koreans fear that online gaming can lead to addiction. To curb this, the Korean government has implemented various restrictions on what online casino sites run their operations. Most significantly, many Korean players avoid playing at these sites till such time as the laws on gambling are liberalized in the united kingdom.