Police investigators in South Korea are reporting that illegal gambling in their country despite a crackdown on the operators who offer such action.
The country currently offers one legal sports lottery, dubbed Sports Toto, but the site is not nearly the most popular in the country of 51.3 million. Illegal sites are proving to be more popular, as they are able to offer more attractive odds and have less betting restrictions as well as no taxation on winnings.
An operator of an illegal betting site said that South Korean betting is a lucrative but stressful affair, noting that offshore servers, bank accounts, phone numbers, and the ability to switch domains is vitally important in keeping their operations running.
Speaking to the JoongAng Ilbo newspaper an illegal operator said, “Illegal gambling site operators like me are running rampant. People are dying to do this job because it makes money. The site I’m operating right now opened just a month ago, but already its profits reached about 100 million won (almost a million US$).”
Punters partaking in illegal betting action in South Korea are warned that they have no protections with illegal operators, as many sites have simply closed shop in the past and refused to pay back players.