“Gambling in the Republic of Korea”
In Korea, most here do not have easy access to casinos or poker rooms. While we do have access to sports betting, the odds by Sports Toto and Sports Proto are poor compared to what can be found online. This is why internet betting is such a phenomenon.
www.bodog88.com is operated from the Philippines where gambling is legal. They are however an international company. They have a .ca website for Canada and a sister brand in the US market called Bovada. The Bodog88 site is for Asia. Of the many languages supported is Korean, and of the many currencies supported is the won (원) (sign: ₩; code: KRW).
At Bodog Koreans can bet sports and play poker, casino and Mahjong for real money. You can fund your account with bank transfer from any Korean bank. From their cashier enter the amount you want to deposit. They will give you the details of their Korean bank account, and you go to your local bank and make a transfer.
This is all done on a post-up basis. For example, if you have ₩200,000 and make a bet for ₩50,000 your account balance is then ₩150,000. If your bet wins the ₩50,000 is added back to your balance and the winnings are added too. If you are lucky your balance will keep growing. At any time you want to cash out some or all of your balance you log-in to the Bodog88 cashier and request a withdrawal. They will transfer the money to your bank and you will have it in a couple days.
Bet365 is an Even Better Option
Using www.bet365.com is not as easy as using Bodog88 but it is well worth the added hassle involved to get set up for making easy deposits. This is the world’s largest online gambling site and is the 7th largest private company in the UK. They stream live sports matches right from their website and have in-play betting.
They even have in-play betting on Korean sports including K-League, Korean Cup, League Cup and National League for football (soccer), WKBL and KBL for basketball, and men’s and women’s Volleyball League. They also have prematch betting on KPB baseball, beach volleyball and badminton from Korea. The sports betting odds are far better than Sports Toto and Sports Proto – plus you can bet leagues from anywhere else in the world too.
In addition there is a casino with live dealer games, slots, lottery and video poker. They have a very popular online poker room too.
Using Skrill in South Korea
To deposit with Bet365, or other gambling sites besides Bodog88 which takes bank transfer, an e-wallet is required. The best one for South Korea is www.skrill.com. This acts essentially as an online bank account. You should open your Skrill account in Euros (not Korean Won) as the currency. The reason why is because most every betting site accepts Euro but not many accept won. Later if you want to use many other gambling sites (which can be done to claim bonus offers, and promos and to find better odds) having your account in Euros will come in handy.
It is highly advised Koreans follow all steps to verify their Skrill account ASAP. This includes verifying your home address. When you request this verification they will send a letter to your home which has a code to enter online once it is received. You might also have to send them scans of your ID.
To fund your Skrill account you can try using your debit or credit card. If it does not work you will need to go to your bank and make a transfer in Euro. Once you have money in Skrill you can deposit it to www.bet365.com. They offer a 100% up €100 cash bonus (about ￦142,000) so for a ￦142,000 deposit you get an extra ￦142,000 free to bet with. You can also cash out your winnings to Skrill. The funds can then be used to deposit with other betting sites or to have the money transferred back to your Korean bank account. As mentioned, this works just like an online bank account. The difference is it has fast transfer to and from gambling sites.
Now that you understand how online betting from South Korea works, I will cover our legal forms of land based gambling and make some comparisons.