Is Sports Betting Legal in Korea?
Sports Betting Legal
With the law recently changed in North Korea where previously it was illegal to conduct sports betting, many are wondering is sports betting legal in North Korea? Is this a isolated case, or does the country actually have it’s own version of legalized sports betting? There have been rumors that in the past, sports writers were arrested and were forced to write articles for the country’s newspaper which essentially functioned as an online sports betting site. Recently however, this practice has been stopped. The reason for this has not been publicly stated, but there has been no confirmation on this. My guess is they just don’t want people writing about sports betting.
One popular website in the country which is said to be operating several gambling sites is the Korea Betting Exchange. This is a site which allows North Koreans to place bets on sports and international events from other countries. This is done through one of the many software platforms which are accessible in the country. Although this is one of the easiest ways to bet on sports in the country, it should be noted that this is still a violation of the country’s laws and is not something you should do without the proper authorization.
In addition to the above site, there are several more which allow online sports betting in the country. All it takes is a valid license from the Korean Department of Trade Registers. Although this process can take some time, it is worth it in the long run as the licenses ensure your registration with the right organization. Once you are a member of the right organization, all your transactions will be handled by them. One thing to remember is to avoid companies which are scams and only want money from their customers.
Is Sports Betting Legal in Korea?
If you have any doubt regarding your legal rights, always consult a sports lawyer. Sports lawyers are very experienced in handling sports law and can help answer any question you have regarding sports betting in Korea. However, this type of law is not at all easy to understand and if you’re not well informed about the ins and outs, then you might end up making mistakes. It is therefore important that you find yourself a reliable sports book.
You should also make sure that your bet on any sports event in Korea is real. If you are looking to place bets on sports which are held outside of the country, then it would be best that you stay away from them. There have been a number of cases where sports books have faced charges for sports betting activities. Keep yourself safe and practice reasonable sports betting margins.
These are just some of the things you should keep in mind when thinking about the legality of sports betting in Korea. Most importantly, you should always choose a licensed sports book. This will ensure that you won’t be cheated. Remember that if it is illegal in your home country, then it is probably illegal in the country where you are participating in sports events. So it is important to check with the organizing authorities first before you place any sports bet.