Tag: sports betting

In case you haven’t heard, Koreans love to bet on just about everything. Whether it’s baseball, basketball, billiards, bowling, or even video games; you can be sure that there will be some kind of wagering action going down. You’ll find that many of them are so enthusiastic especially on the subject of sports betting.

In fact, the popularity of pro and semi-pro sporting events in South Korea has led many commentators to label the country as ‘the home of sportsbetting’. While much of this is attributable to significant cultural differences between Western and Eastern societies regarding gambling, there are a few other factors at play as well. Let’s take a closer look at why so many Korean people love to sportbet.

Legalized Sportsbetting in South Korea

The fact that sportsbetting is legal in Korea is one of the primary factors that contribute to its popularity. Many people who enjoy sportsbetting will do so in nations where it’s completely illegal. If you don’t want to risk getting into trouble with the law, it’s much easier to just play by the rules in South Korea.

In addition, the fact that there’s a large gambling industry in Korea is likely to have a significant impact on the culture as well. If sportsbetting was illegal and not a source of significant revenue for government agencies and businessmen, one would imagine that it would play a much smaller role in the lives of Korean people.

Proximity to Other Asian Countries

The fact that a significant proportion of Koreans live within proximity of other Asian nations is also a factor that contributes to their love of sportsbetting. These include China, Japan, and Vietnam. Many of these countries have a culture of sportsbetting that can be traced back for decades.

Given that these cultures are quite similar to South Korea in terms of language and other variables, it would make sense that Korean people would be interested in the same kinds of sportsbetting that interest their neighbors.

Internet Infrastructure

There is no denying the fact that South Korea has some of the fastest internet in the world. This is the result of a concerted effort by the government and private companies to improve the country’s internet infrastructure.

The fact that the internet is so fast and reliable also has a significant impact on the popularity of internet sportsbetting in South Korea. That’s why they can easily go to websites dedicated for sportsbetting.

On December 2, 2020, the House of Councilors plenary session passed an amendment to the Sports Promotion Voting Law (“Act on Implementation of Sports Promotion Voting, etc.”), and basketball was added to the target of sports promotion voting (so-called “toto”). It was decided. For the sports market, which has been hit hard by the spread of the new coronavirus infection, the profits from it are highly expected.

Currently, in Japan, gambling activities including sports betting are subject to punishment by law (Article 185 of the Penal Code, etc.), and are illegal except for some public gambling and other legally permitted acts. For example, the soccer lottery by toto is exceptionally legal under the Sports Promotion Voting Law, and horse racing, bicycle racing, etc. are exceptionally legal under each special law, but with this revision, not only soccer but also basketball is targeted. Betting will also be allowed. Other sports may be added to the target of toto in the future, but how likely is it that the sports betting market will develop in Japan and become a new source of revenue?

Sports betting situation, booming outside Japan
In other countries, there are a wide variety of laws and regulations regarding sports betting. For example, in the United Kingdom, since the gambling legislation was renewed in 1961, sports betting has been actively practiced to this day with private companies running bookmakers, and sports in many other countries. Betting is allowed. Especially in recent years, sports betting has been in the limelight in the United States. The reason is that in May 2018, the US Supreme Court decided that the Professional and Amateur Sports Protection Act of 1992 (PASPA), a federal law that prohibits sports betting, was “unconstitutional.” So, there is a move to deregulate sports betting throughout the United States. Although it is a figure before the spread of the new coronavirus infection, it is said that the US sports market before deregulation due to the unconstitutional judgment of the Federal Supreme Court is about 50 trillion yen, of which about 16 trillion yen is illegal sports. It is also said that betting was occupied. It is expected that the ratio of the legal betting market will increase rapidly in the future.

Will sports betting develop in Japan?
On the other hand, in Japan, there are strong voices cautious about the total lifting of the ban on sports betting, and it is only exceptionally permitted by special law in some sports as mentioned above. Therefore, there are many disadvantages for the betting consumer.

Conclusion
It is only applicable to professional sports. Betting on students, amateurs, and business groups is not acceptable. The scale of the event is large, and it is strong enough to monitor match-fixing, but baseball and sumo are the only two remaining sports. There may be motorsports, but judging match-fixing is difficult. Due to past events, baseball may not be possible, and sumo is a Shinto ritual.