Casino News: Tighter rules against online gambling in South Korea

In South Korea, supervisory body suggested that there should be limits on Internet cash transactions in order to regulate online gambling.
According to The Korea Times, the highest amount is $290 a month for the players to use for online gambling at the moment. However, players have found ways to get around these limitations. In future, there will be a fine up to $20,000 or sent to prison for up to two years for making large amount of cash transaction for online gambling purpose, under new laws planned by the Ministry of Culture, Sports and Tourism.

According to the newspaper, Korean lawmakers started to focus on online gambling after clamping down the video gambling arcades. Many internet cafes or 'PC baangs' have been renewed into arcades for online gambling where customers can win cash on virtual slot machine games.

Locals are allowed to use just one of 17 casinos in Korea, which are licensed by the government. Most of the users are from abroad which gives out almost $500 million to the country per year.

Tags: limits, on, Internet, cash, transactions, in, order, to, regulate, online, gambling.,

 

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