Even though gambling is illegal in Korea, you can still bet. But it could be more complex and smoother. In this article, we’ll go over what you should look out for if you happen to be in this country and want to do your favorite thing. Or if you’re already a resident of the country. Let’s begin!
What famous sports can I bet on in South Korea?
Before we start digging into the legislation of this beautiful country, let’s first find out what sports you can bet on here. So, Koreans love to play baseball, and many bets are placed on the KBO League, the Olympics, and Major League Baseball in Canada and America. Other sports that South Koreans regularly bet on are horse racing, baseball, golf, and ssireum (martial arts).
Does South Korea have taxes on winnings?
No, and that’s cool. If you use licensed betting shops or their special utilities for mobile devices, you won’t have to spend money to pay tax on your honestly-earned winnings. Under South Korean law, only lottery winnings are taxable. Laws and regulations may change if South Korea changes its stance on sports betting. But that is expected to happen later.
How can I place a bet here?
You’ll always have to think of some way to make a bet. But why? Firstly, South Korea’s Internet service providers prohibit most betting sites, so you must work with a VPN to gain access. But the trouble is, if you use a proxy or VPN, you won’t be able to use most of your depositing options. Bank cards, for example.
But you could still use electronic wallets. For example, Neteller or Skrill. This is a good enough option, as using them doesn’t involve paying a commission. Also, the money to your gambling account will come in instantly. But you can also use special mobile utilities to get around these restrictions.
For example, Onexbet (1xbet) (one of the most famous bookmakers in the world, which operates in more than 40 different countries) has developed a unique utility. With it, you can perform all the same actions as on the desktop version of the site without experiencing any deprivation.
Any other options?
If you do not desire to use the particular application for Android and iOS for any reason, you can play from the web version of the site – 1xbet Korea. Many bookmakers provide resources optimized for mobile devices, allowing you to log in through your browser, just like on your computer.