Gambling is without doubt the most popular pastimes on the planet. However using its potentially addictive aspect and the social consequences that this may entail it has been deemed illegal in lots of countries all over the world. As in most of Asia gambling in South Korea is certainly, in principle, illegal. It declares in the Criminal Act, Document 246 that anyone who gambles or bets for the intended purpose of gaining property will be punished by a fine as high as 5 million Won. Article 247 prohibits the opening of a location for the use of gambling for a earnings and pieces a punishment of imprisonment for no more than 3 years or a fine of up to 20 million Won.
This law isn’t a blanket exclusion of gambling and, in Korea you, it is possible to still gamble under restricted situations – a good example being for the promotion of tourism. There has also been laws enacted allowing gambling using circumstances.
For example:
a. Casinos
The laws vary for foreigners and Korean residents. As it stands right now the Special Action on the Assistance to the Growth of Abandoned Mine Areas allows the running of the only land based gambling establishment in Korea that Korean residents may enter. It really is located in Gangwon province, in an abandoned mining district, the remote countryside helping to further restrict accessibility for Koreans.

For non-Korean residents the Tourism Promotion Take action offers permission for hotels to use casinos that only overseas nationals are allowed to enter. Such casinos are operating in Seoul, Incheon, Jeju Island and so are heavily supervised by the Ministry of Tradition and Tourism.
b. Lotteries
There are 2 lotteries available to Korean citizens the Lotto and the Toto ( a sports lottery). The functioning of and marketing of tickets are regulated beneath the Lottery Fund Act.
c. Racing
Horse racing and betting at the venues can be permitted under the Korean Horse Affairs Association Action and comes under the jurisdiction of the Ministry of Agriculture and Forestry.
Other race sports are also legal and regulated, included in these are cycling and motor boat racing although these both come under the jurisdiction of the Ministry of Customs and Tourism.
d. Online Gambling
This is currently a gray location as Korea does not have relevant laws for the specifics of online gambling. Arguments could be designed for both sides – for example, the monetary transactions will undoubtedly be taking place beyond Korean jurisdiction so can by no means be at the mercy of Korean law, hence it is extremely unlikely that your money will undoubtedly be seized by anyone. Nevertheless the end user is still in Korea so may well be at the mercy of the national laws that apply to general gambling. The National Law enforcement Agency has generated the Criminal Activity Investigation Group to help control any potentially unlawful on the internet activities, including gambling. This definitely implies that it could be ‘considered’ illegal; although at present no cases have been taken to test this.