Which are the 4 leading gambling sites in South Korea and where to bet safely?
The best betting sites in South Korea are Pinnacle, Betmaster, Melbet, and Betway. These bookmakers have different pros and cons, so you should carefully read our reviews before you sign up on a betting site.
- Population: 51.78 million
- Active players: About 7 million
- Currency: South Korean Won- KRW
- Regulated gambling products: Casino games, horse racing, sports betting, and lottery
- Operator types: Land-based casinos and betting shops
- Designated authority: the Ministry of Culture, Sports and Tourism, the Ministry of Agriculture, Food and Rural Affairs, and Ministry of Strategy and Finance
- Status: Online betting sites are illegal
Which Are the Best Betting Sites in South Korea?
Pinnacle is an old online gambling site that has been running since 1998. It is licensed by the government of Curacao and accepts members from South Korea. Since it has a gambling license, punters can expect to be treated fairly on the platform. While Pinnacle does not conduct aggressive marketing campaigns, it has a number of compelling benefits. One of these is the fact that it features some of the highest odds in the online betting industry. Unlike many other betting sites, it welcomes professional gamblers and never bans punters for consistently winning. As a skilled bettor, you will also appreciate the fact that Pinnacle has high winning limits. A key disadvantage of Pinnacle is that it doesn’t have a cash-out option.
- It has very high winning limits.
- It has very high odds.
- Players are not limited on this site.
- You can’t cash out your bets at Pinnacle.
Betmaster.io is a well-designed betting site, and you can easily navigate to different pages of the platform. Some of the top leagues featured on the service are the Premier League, Ligue 1, La Liga, NBA, and Serie A. On this betting platform, you will be able to punt on more than 100 markets, and these include Asian handicaps. Members of Betmaster are able to place wagers on smartphones and tablets. For this purpose, you can either use the mobile app or mobile site. The application can be installed on both Android and iOS devices. BetMaster is licensed by Curacao e-Gaming, and this means punters are able to enjoy safe betting experiences. The site is also secured with SSL encryption technology.
- It has Android and iOS mobile apps.
- It has a Curacao license.
- It uses SSL encryption.
- It doesn’t have a cash-out option.
Melbet is among the top betting sites in South Korea. On the website, you will be able to stream different matches live. In order to see the list of matches that have live streams, you should click the TV symbol in the sports betting section of the website. Melbet also has great coverage of sports events, and some of the popular ones are the NHL, the NBA, and the WTA. The betting site also covers various e-sports. Melbet displays odds in three different formats, and these include decimal, UK, and American. Another notable benefit of this gambling site is the fact that it supports one-click betting. This feature can be extremely useful when placing in-play wagers as the odds change quite fast.
- It offers live streaming services.
- It supports three odds formats.
- It supports one-click betting.
- The design of the site can be improved.
Betway is a famous online betting brand that was founded in 2006. It has expanded to many countries around the world and now even accepts punters from South Korea. The bookie is licensed in Malta and the United Kingdom, so you can be certain that it is legitimate. On this betting site, you will be able to place bets on popular sports like rugby, hockey, handball, football, kabaddi, and formula 1. There is also a special section for e-sports betting. A notable feature in this betting site is the Bet builder, and this will allow you to create pre-match and in-play wagers conveniently. The bookie also has a free bet club, which will allow you to claim bonuses every week.
- It has a bet builder feature.
- It offers weekly free bets.
- It offers price boosts.
- Some bonuses are only available in the UK.
Some Things to Know About Gambling Sites in South Korea
If you want to start gambling in South Korea, it is essential to understand how the industry works. In this section, we will look at some essential factors regarding betting sites in South Korea.
- Betting Environment
South Korea is known for being a major player in the tech industry. It neighbours North Korea, China, and Japan, and it is known for being stable and highly prosperous. Sports are essential in the lives of people in South Korea, which is why sports betting has become quite popular among the locals. The most popular sports in the country are football and baseball, and e-sports are also gaining a massive following in the country. While the country has made online gambling illegal, punters generally use online bookies without facing any form of punishment.
There are at least 14 casinos operating in South Korea, but almost all of these offer their services to foreigners. Sports betting and horse racing are provided by only one firm in the country. These services currently don’t face much competition since online gambling is illegal in South Korea. The only issue is that enforcing the ban on gambling is quite difficult, and some clauses in the legislation make it hard to prosecute gamblers.
While there are many gambling operators in South Korea, a few stand out for the size of their operations. Gangwonland is the only casino in the country that accepts locals. All other casinos have been developed solely for foreigners. Horse racing betting in South Korea is handled by the Korea Racing Authority, and this works as a government monopoly. The other notable operator in the country is Sports Toto, and this is backed by the state. It offers sports betting services.
- Active Players
South Korean laws allow punters to gamble for momentary pleasure, and this ambiguous wording has made it possible for lots of people to engage in gambling regularly. At the moment, about 7 million people in the country engage in gambling activities.
- Key info for South Korea Players
South Korean officials have stated that anyone caught gambling online will be fined or arrested. However, it is clear that this law is hard to implement. That said, it is important to remember that professional players will always be arrested if they are caught gambling. If you don’t play sports professionally, you can sign up on various online betting platforms. It is essential to note that the odds in foreign betting sites are superior to those of South Korean betting sites.
- Gambling Taxes and Players Safety
When engaging in gambling, you will not be required to pay any taxes on your winnings. The only exception is when you win the lottery.
How Do We Select the Best Betting Sites in South Korea?
When choosing the best South Korean bookmakers, we consider factors like the bonuses, the mobile apps, the coverage of sports, and the website design. We also look out for essential gambling features like the cash-out option and the Bet builder.
Which Odds Formats Are Commonly Used in South Korean Bookmakers?
Most bookies in South Korea use decimal odds format as this is quite easy to interpret. However, the top bookmakers in South Korea allow customers to change the odds format to American, British, Indonesian, Malaysian, or Hong Kong formats.
Which Betting Markets Are Featured in South Korean Betting Sites?
South Korean betting sites have a variety of betting markets, and these include the match results, total goals, Asian handicap, anytime goal-scorers, and both teams to score. Some bookies in South Korea even offer fast markets, and these are meant to be settled just a few minutes into the game.
Before you sign up on a sports betting site, you have to evaluate the user experience of the bookie. The navigations and structure of the betting sites have a major impact on the user experience. Other factors that affect the user experience are the reliability of the service and website speed.
Bonuses Offered to Punters in South Korea
The best online bookmakers in South Korea offer generous bonuses. These offers come in many different forms, including free bets, price boosts, reload bonuses, and welcome bonuses. They also have different terms and conditions.
Essential Features in Online Betting Sites
When evaluating online betting sites, you have to evaluate certain betting features. Some of these features are in-play betting, live streaming, and cash-out options.
Can I Use Online Casinos in South Korea?
South Korea has tried to control online gambling, but lots of players still use these websites. Given that prosecuting individual gamblers is difficult, the state has focused its efforts on banning online casino operators instead.
Banking Methods for Punters in South Korea
Punters in South Korea can make deposits using the Won, but in many cases, bookies will require you to convert your currency to the Euro or USD. To make transactions, you will have to use credit cards, e-wallets, or even bank transfers. For better privacy, you can consider using cryptocurrencies.
Can I Gamble on my Phone or Tablet?
Yes, the top betting sites in South Korea allow punters to place wagers on their smartphones and tablets. They have developed mobile apps and optimized mobile sites.
Security in Online Betting Sites in South Korea
While South Korea doesn’t license online betting sites, punters can always find bookies that have foreign licenses. It is important to remember that some licensing jurisdictions have stricter requirements than others.
Can South Korea Punters Access Good Customer Support?
Yes, as a punter from South Korea, you will be able to access 24/7 customer support. Ideally, the customer service team should be accessible via live chat and telephone. Email should also be available as it is great for lengthy queries.
Are sports betting legal in South Korea?
No, sports betting is illegal in South Korea, and the government can crack down on individual gamblers who use online bookies.
Can you bet online in South Korea?
Yes, there are many online betting sites that accept punters from South Korea. However, you should avoid gambling online if you are a professional sportsperson. To protect yourself from government action, you can use VPNs and transact using cryptocurrencies.
What are the best online bookmakers?
The best South Korean gambling sites are Pinnacle, Betmaster.io, Melbet, and Betway. Before you sign up on an online betting site, you will have to evaluate the pros and cons of the betting platform.
What is the best sports betting site in South Korea?
The best sports betting site in South Korea is Pinnacle, and this is mainly because the platform offers very high odds. You should also note that this bookie doesn’t limit skilled gamblers. The only notable issue with Pinnacle is that it doesn’t have a cash-out option.
What are some useful South Korean betting tips?
When betting online in South Korea, you should consider hiding your location with VPNs and other IP masking tools. To maximize your chances of winning, you should avoid punting on sports you don’t understand. Similarly, it is important to manage your bankroll properly.
Will I need to pay taxes on my gambling winnings in South Korea?
No, the government of South Korea does not require citizens to pay taxes on their gambling winnings. However, whenever you win the lottery, you will have to pay taxes on your earnings. This rule only applies to punters who purchase local lottery tickets.
Can I make deposits using the South Korean won?
Yes, various online betting sites allow punters to make payments using the South Korean won. However, in many cases, you will be required to convert the currency to USD or EUR. It is also possible to make payments using cryptocurrencies like Bitcoin and Litecoin.
What is the legal gambling age in South Korea?
In South Korea, you can only engage in online gambling if you are at least 19 years old.
Useful Facts About Gambling in South Korea
- Individuals who gamble habitually in South Korea can be punished with a fine of up to KRW 5 million.
- In South Korea, small scale gambling is decriminalized and is not punished, and this clause in the law has made it hard to prosecute online gamblers.
- Most land-based casinos in the country are only meant for foreigners, and locals are not allowed to use these services.
Are there any Restrictions for Punters in South Korea?
Punters in South Korea are generally prohibited from gambling in online betting sites, but this activity has become pervasive in the community. You should only avoid sports betting if you are a professional sportsperson as that can lead to fraud. Also, remember that the legal gambling age in South Korea is 19.
Online gambling in South Korea is extremely popular, even though it has been outlawed by the government. It is highly unlikely that you will be arrested for betting online as this would be extremely costly to the government. However, you can still protect yourself in online bookies by using VPNs and cryptocurrencies. At the moment, the best sites for betting in South Korea are Pinnacle, Melbet, Betmaster.io, and Betway.