How expats bet on sports in Korea. Toto sports gambling has gained an immense level of popularity in Korea. There was a time when Koreans used to feel confused and worried due to non-approved websites.
South Koreans can place their bets on horse racing, bicycle racing, lotteries, and Toto sports betting. While the country has a whole lot of land-based casinos, locals are allowed to enter only one. They must be 18 years old to legally bet. The South Korean government places a withholding tax of 22 percent to 30 percent on winnings from lotteries. All other gambling wins are non-taxable. The government, on the other hand, collect tax revenues from operators. 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.
However, South Korean casinos are only available for foreigners – local residents are only allowed in one South Korean casino, Gangwonland, for which the restriction against the entrance of local residents is relaxed pursuant to the Special Act on Support of Development of Abandoned Mine Areas. Online gambling is strictly prohibited under South Korean law. The reason for this is that South Korean laws do not make a distinction between land based and online gambling. According to Article 247 of the Criminal Code, anyone conducting illegal gambling in South Korea is subject to criminal prosecution and faces charges of up to 5 years in prison or KRW 30 million (approx. $26,000). This clause is pertinent to online gambling operations as well. Only online sales of lottery tickets is specifically permitted.
Volleyball Toto is my personal favorite. This matches two teams together and you select 1) the correct set score and 2) the winning margin of the first set (2, 3, 4, 5, 6 or 7+). When this was a new game (2008-2010) if you boxed all possible set scores with all first set winning margins of 2 and 7+ you would have made an ROI of 75%. (This was amazing and sharp bettors made a lot on this). This is gone as the market has matured, but there are still inefficiencies. For casual bettors, what is offered online at 1Xbet for volleyball provides much more value – still there is room for pros to exploit market inefficiencies with this toto game. Golf Toto -There are several games in Golf Toto, one of my favorites pairs one player against eleven others. You select if he will win-draw-or lose against each player. A trick to finding +EV wagers is to pick him to beat 10 players and to lose to an eleventh who is a contender but not expected to win. This is essentially predicting first and second, and for the first choosing one of the lesser popular players with a chance. For casual bettors again online offers better odds. There is however two more golf toto games that are decent as far as lottery is concerned. These are 1) Special Game – predict 5 or 7 player’s 1st round score and 2) Win/Draw/Loss Game – Predict 5 matches’(10 player) Win-Draw-Lose.
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.
South Korea is a country with a blossoming Bitcoin scene and authorities do not restrict the use of Bitcoin in the country. A number of news pieces were published June last year about a South Korean Bitcoin gambling company, Satoshinori beta testing its products meant to cut the firm a piece of the estimated $49b East-Asian online gambling market (illegal included)*. The company would’ve operated under the same assumption as many other Bitcoin casinos – namely, that as Bitcoin is not a currency, therefore Bitcoin gambling is legal, or at least not explicitly illegal, even in countries with laws otherwise prohibiting online gambling.
스포츠 도박은 스포츠 결과를 예측하고 결과에 내기를 걸고 있습니다. 또한 한국인들은 자신이 가장 좋아하는 팀에 내기를 좋아하기 때문에 한국에서 매우 인기가 있습니다. 불행히도 한국 삿포로의 경우, 정부는 도박에 대한 독점권을 행사하여 한국인이 이용할 수있는 도박 옵션을 제한합니다. 그러나 해외 스포츠 북을 이용해 내기를하는 방식으로 한국의 도박 팬이 여러 가지 방법으로 접근 할 수 있습니다. 한국의 스포츠 도박 팬들을 돕기 위해, 여기 한국인에게 친숙한 웹 사이트를 베팅하는 최고의 스포츠가 있습니다. https://www.nefertoto.com/
스포츠 토토는 두 가지 스포츠 베팅 게임을 제공합니다 : 스포츠 토토 및 프로토, 첫 번째는 파리 뮤뮤 루 베팅이고 두 번째 고정 확률입니다. 두 게임 모두 전국의 전자 터미널, 도박 상점 및 편의점에서 게임을 즐길 수 있지만 온라인 장부가는 없습니다. 스포츠 토토 (Sports Toto)의 게임으로 얻은 수익은 한국 대중 스포츠를 목표로하는 한국 스포츠 진흥 재단 (Korea Sports Promotion Foundation)에 전달됩니다. 대한민국에서 합법적 인 경마는 대한민국 경마 대행사가 실시합니다. 베팅은 전국의 3 개의 순종 트랙과 30 개의 OCB (오프 코스 베팅 센터) *에서 할 수 있습니다. 그러나 한국 경주 당국은 온라인 스포츠 북을 제공하지 않는다. 정부는 또한 일부 외국 온라인 도서 제작자에 대한 접근을 차단한다. 그러나 정기적 인 규모의 소규모 선수들이 집안의 안전을 이유로 그러한 장소에 내기를 걸면 한국이나 다른 나라에서 기소 될 가능성은 희박합니다 (레크리에이션, 전문적이지 않은 소규모 도박은 사적인 사람들에 의해 범죄로 기소되지 않습니다). 대한민국). 주요 외국 온라인 스포츠 서적에 대한 확률은 한국에서 국가 베팅 게임에 제공되는 것보다 훨씬 뛰어나다 고 말합니다.