G3-247 Report SOUTH KOREA
THE GAMBLING MARKET Under Chapter 23 of the Criminal Act all gambling in
South Korea that is not for momentary pleasure is ille- gal. However there is no known instance of a Korean being arrested for gambling. For online gaming the gov- ernment merely posts warning signs on those illegal sites they find.
Korea’s gambling sector comprises of horse racing, lot-
tery, cycling and casinos and this all achieved sales of ₩19.34tr in 2013 slightly lower than 2012’s ₩19.54tr.
LOTTERY The Lottery Fund Act was enacted in 2002. In 2004 the lottery committee was set up to oversee the lottery and promote its development. The Korea Lottery Commission undertakes all lottery related operations from management to sales and use of the proceeds.
There are a few lottery games and Lotto 6/45 and 520 Pension Lottery (Bok-Kwon) are the main government endorsed lotteries in South Korea plus there are games called Popcorn and Speeto500.
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01 Racing came to a standstill during the Korean War in the 1950s and racecourses were used for military training. So the KRA re-established the racecourse in Ttukseom in Seoul and the course opened in 1954 and served as the hub until it was relocated to the newer site in Gwacheon in 1989.
02 The Korea Racing Association Law was set up in 1962 and computerised pari-mutuel betting was launched in 1984. Up until this point pari-mutuel betting was done manually which impeded the development of the sport. This, plus televised coverage in colour, boosted incomes tenfold and saw the sector grow significantly.
03 The KRA was responsible for constructing the Olympic Equestrian Park during the games and this was built on 280 acres of land in Gwacheon area, south Seoul. After the Olympics this park was renamed Seoul Racecourse.
Lotto 6/45 began in December 2002 and players choose six numbers between 1 and 45 and the draws are held once a week on a Saturday. Tickets can be purchased at convenience stores and news stands 365 days a year.
Only those over the age of 19 can buy. It costs around ₩1,000 for one line of numbers and players can have as many lines as they wish. You can choose your own num- bers or via random selection.
Pension Lottery 520 was launched in July 2011 and was the republic’s first pension type lottery. Winners receive a monthly payment for life. Tickets can be bought at shops throughout the country and via the official web- site.
The government maintains a cap of ₩3.49trillion on lot- tery revenue and also aims to keep the total gambling business revenue to 0.58 per cent of the country’s GDP. The lottery commission has asked if the cap be removed but the request was refused. If they go over the cap then the KLC must pay financial penalties to the NGCC.
Lottery revenues in 2011 reached ₩3.08tr with ₩3.2tr ($3bn) in 2012. The increase is due in part to online lot-
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