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Best Betting Sites in South Korea

Best Betting Sites in South Korea

Author: Steven D. Thompson

Updated: 20/11/2024 11:20 AM

Explore sports betting sites in South Korea for a chance to enjoy the incentives and excitement that come with gambling. Although speculative gaming, which includes some forms of online betting, is prohibited under the Korean gaming law, punters still find ways to explore gambling opportunities. The good thing is that betting isn't entirely prohibited in the country. Therefore, Korean players have some liberty to explore the industry and place bets on games but must be careful with sports betting sites.

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The Best Betting Sites in South Korea 2024

New Bonus

Rating:

10/10

Excellent

Welcome Bonus 125% up to $1,000

Play Now Everygame Review

Pros

The sign-up offer gives you bonus funds on your first three deposits.
Wide range of bonuses for existing customers.
Many pre-match betting markets to choose from.

Cons

You can make only one withdrawal request in seven days.
No mobile betting app.
No live streaming.

Odds Margin: 93%

Extra Features: Casino, Tournaments, VIP Programme

Payment Methods: American Express, Bitcoin, ecoPayz, Litecoin, MasterCard, Paysafecard, Visa

18+ | Gamble responsibly | GambleAware.org | T&C’s apply

Rating:

9.9/10

Excellent

Casino Welcome Bonus 500% up to 90,000 USDT + 100 FS

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Pros

Nice and easy layout
Multiple website languages
Bitcoin casino

Cons

Lack of FIAT currencies
No mobile app
Lack of live streaming

Betting Software: Betradar

Odds Margin: 94%

Extra Features: Bonuses, Casino, VIP Programme

Payment Methods: Apple Pay, Bank Transfer, Bitcoin, Dogecoin, Ethereum, Litecoin, MasterCard, Visa

18+ | Gamble responsibly | GambleAware.org | T&C’s apply

Popular

Rating:

7.2/10

Very Good

Daily Match Bonus 100% up to $1000

Play Now OnlineCasinoGames Review

Pros

Generous welcome bonus for newly registered players
Exclusive VIP perks
Crypto-friendly platform

Cons

Limited collection of casino games
Quite long withdrawals
No licence is available

Odds Margin: 93%

Extra Features: Bonuses, Casino, VIP Programme

Payment Methods: American Express, Bitcoin, Bitcoin Cash, BNB, Ethereum, Litecoin, MasterCard, MoneyGram, Tether, USD Coin, Visa, Zelle

18+ | Gamble responsibly | GambleAware.org | T&C’s apply

Trusted

Rating:

7/10

Splendid

Crypto Sign-up Bonus 200% up to $2,000

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Pros

The loyalty program gives enticing rewards to regular bettors.
Cryptocurrency transactions offer various perks.
24/7 phone, email, and live chat support.

Cons

Small withdrawal fee.
No live streaming.
There could be more betting markets.

Odds Margin: 95%

Extra Features: Bonuses, Tournaments, Cash Out Func., Live Streaming, Odds Boost, VIP Programme

Payment Methods: American Express, Bank Transfer, Bitcoin, Ethereum, Litecoin, MasterCard, Visa

18+ | Gamble responsibly | GambleAware.org | T&C’s apply

Popular

Rating:

6.63/10

Splendid

AllWin Deposit Bonus 50 USDT

Play Now Bets.io Review

Pros

Crypto-friendly sportsbook
Fast withdrawals
No payment fees

Cons

No phone support

Odds Margin: 93%

Extra Features: Bonuses, Casino, Mobile App, VIP Programme

Payment Methods: Binance Pay, Bitcoin, Dash, Dogecoin, Ethereum, Litecoin, Ripple, Stellar, Sticpay, Tether

18+ | Gamble responsibly | GambleAware.org | T&C’s apply

Table of Contents

Sports Betting Regulation in South Korea

The sports betting regulation in South Korea is complex and not easy to understand. South Korean gaming laws generally don't differentiate between land-based and online gambling. Certain gambling activities are permitted in South Korea, with gaming licenses required. The National Sports Promotion Act regulates sports betting, and it allows for betting on a number of sports, including football, golf, and basketball. However, sports betting is only allowed at facilities operated exclusively by the Korea Sports Foundation. As a result, sports betting sites aren't permitted to operate because it is impossible to get an operating license, but sports betting in Korea continues to gain traction.

History of the South Korean Gambling Regulation

This history of gambling laws in South Korea is marked by periods of cautious liberalization, strict prohibition, and debates. Before the 1960s, South Korea's ethical principles placed a large emphasis on frugality and social order, and as a result, gambling has always had a negative view in the country. Even before the laws were enacted, gambling was already discouraged through informal sanctions and customary practices.

However, as things got clearer and the world advanced, many things changed. Between 1960 and the 1990s, the first casino in South Korea was opened as the tourism industry boomed with many foreign visitors in the country. By 1961, the Casino Control Act laid the groundwork to regulate foreign-only casinos in the country to attract tourists further, becoming one of the many factors that led to the opening of the first casino for Korean citizens.

The new millennium brought many changes to the South Korean betting landscape. There were many debates and public discourse based on the legality of sports betting in South Korea. The rise of online gambling has also impacted the market. Although gambling in South Korea hasn't changed much, the ambiguity of online gambling has posed many challenges to the laws, creating a complicated legal grey area. Online betting in South Korea remains immense and continues to gain popularity among players.

Current Status and Future Projections

The current status is that gambling sites that are not regulated or licensed can't operate in the country. However, that has led to many illegal betting sites when it comes to Korean sports betting. Unsuspected players are lured with welcome bonus packages, causing more harm than good. Even with many bookmaker reviews, players must remain careful. Since the sports betting legal status hasn't changed, players look for ways to bet on sports and play casino games.

Although the establishment of the National Gambling Control Commission has helped a great deal, there are still many lacks and loopholes allowing illegalities and fraudulent activities. As a result, online betting in South Korea remains a big debate. There is a push for changes in how the market operates. Undoubtedly, many people continue to look for ways to enjoy betting without hassle. And some of the best betting sites continue to provide betting options to players. We believe there is a good chance that all gambling forms will be legal in the country, and players can have access to legalized and regulated South Korean betting.

Key Facts & Stats About Betting in South Korea

How to Pick the Best South Korean Bookmaker

Bookmakers in South Korea are rare because they're not permitted to operate locally. However, there are online betting sites that provide South Korean sports bettors the chance to place bets on games. Since there is no embargo on offshore online sports betting, South Korean bettors can try their luck with these bookmakers and enjoy exciting betting experiences. But, finding a suitable site to join can be tedious. It helps if you can find a proper guide to help you through the perilous journey. In that case, we've highlighted some tips you can follow to find top-notch betting sites in Korea.

Step 1

Licenses and Safety Measures

The betting site's license is one of the many things you must consider whenever you want to choose an online betting site. You don't want to join a site that doesn't have a verifiable license because it might be a scam website since it doesn't operate under any regulations or laws. So, take the time to check for licenses and ensure that it is valid and from a top jurisdiction. Aside from that, you should also check the site's security system to see if they are worthwhile and that players will be protected. Check if they have top-notch safety and security measures in place to help safeguard information and data.

Step 2

Payment Methods in South Korea

South Korea has some popular payment methods players can use to complete transactions at various online sports betting platforms. You must take the time to check if these sites have suitable options players can use to deposit and withdraw without stress. So, you might want to look at the payment method lists to know what options are available and if players will have access to a top-notch betting experience. It also helps if you check the site's terms and conditions to see if there are extra fees charged on transactions. Also, you should confirm if payments are processed instantly.

Step 3

Sports Coverage and Features

The type of sports the site covers is also important. For instance, if you're a fan of esports, you need a platform that allows you to bet on games without restrictions. Or, if you follow the KBO league, you might want to check whether the site covers games from the league. So check based on your preference. Some popular sports to look out for include boat racing, horse racing, and football, thanks to stars like Son Heung Min. It also helps if you can join a sports betting site with incredible features that allow you to enjoy a smooth betting experience. You should also pay attention to the odds and other important betting features, like live betting.

Step 4

Read Our Reviews

You are now prepared to register an account with the South Korean betting site that meets all of your requirements, assuming you have taken care of all the previously mentioned factors. But we have to admit that we agree if you believe that it would be difficult for a bettor to analyse every aspect of a sportsbook on their own. For this reason, we make every effort to give you comprehensive information about every South Korean betting site in our reviews. Through reading our in-depth reviews of sportsbooks, you can quickly identify the best betting site for you. The only thing left to do is create an account and make your initial deposit.

Free Bets & Betting Offers in South Korea

Betting Sites	Free Bets/Betting Offers
BC.Game	Up to 1 BTC
Betwinner	100% up to €130
BetBeast	20% risk free bet up to €100
Mystake	100% bonus up to $500

How we Compare and Rank Betting Sites in South Korea

License and Security

One of the things we pay attention to whenever we want to compare and rank betting sites in the country is the license. We want to ensure that the site we list is safe for players to join. We understand that there are betting platforms operating without licenses that are worthwhile, but these sites need more thorough checks. So, to be on the safer side, we rank platforms with quality licenses from top jurisdictions. In addition to the licenses, we check the security measures to know if they are secure and safe for players.

Welcome Offer

The best betting sites have incredible bonuses players can claim. The first one we check is the welcome package. We want to know if players will enjoy the deposit bonus once they make a deposit match after completing their registration. In this case, we look at the type of bonus available and ensure that they are worthwhile. Additionally, we check the welcome bonus terms and conditions to see if there is a possibility for players to turn the bonus money into real funds. We check the wagering requirements and other conditions to be sure.

Promotions and Free Bets

Another thing we check is the online betting site's promotions page, in addition to the welcome bonus package. We want to ensure that the site we pick has more bonuses that players can claim along the way. To do this, we check the list to see the types of offers available and how players can claim the bonuses. The more you play online, the higher your chances of claiming more bonuses. Additionally, we compare if the offers are up to the industry standard and the requirements aren't too stringent. We rank betting sites with higher quality offers than others on our list.

Odds and Value

Various sites have different odds for individual matches and betting markets. We compare the odds to know which one of the sites has higher odds, ensuring that players will have a better return on their investment if they are lucky enough to make the right predictions. We look at the odds and how they compare with the industry average and if they favor the bettors. In addition, we check the margins to ensure that players will have a better shot at winning and the overround won't be too high. In this case, we also look at the odds and values for live games.

Top South Korean Betting Sites by Category

Highlight of the Site	Betting Sites
Best for Language Option	B7 Casino
Best for Crypto	Crypto Bet Sports
Best for Mobile	Zotabet
Best for Welcome Bonus	Betstro

Popular Payment Methods for South Korean Betting Sites

Before you can enjoy sports betting incentives in South Korea, you must be able to pick a suitable bookmaker and fund your account. As a result, you need suitable payment methods to use. Fortunately, South Korea is not restrictive when it comes to payment options. Players can use various payment methods at their preferred betting site in South Korea. We've highlighted some of the most popular payment options you can use in this East Asian country when you want to place bets on the K League or other competitions online.

E-Wallets

Choosing an e-wallet payment method is popular among South Korean bettors. If you want to enjoy betting without hassle, you might want to consider these payment options and use them to deposit and withdraw money. E-wallets are easy to use, but you must understand that the services vary from one option to another. In that case, you might want to check each one before getting started and take the time to explore the different methods available. Fortunately, most betting sites allow players to choose different e-wallet methods. So, you can check based on your preference and start transacting.

Skrill and Neteller remain the two most popular e-wallet banking methods you can use on online gambling platforms. They are easy to use, and you don't need to learn complex processes before you can start using them. Simply download their respective apps on your phone or visit their official website to get started with your gambling journey. The good thing is that these services usually come with extra features that will make your betting experience straightforward and give you an added advantage. Don't hesitate to check if there are exclusive offers you can claim when you use these payment methods.

Cryptocurrencies

Technology has advanced, and these advancements have changed many things in the online betting landscape. Players now have access to digital currencies that will allow them to improve their betting experience and push their experience to another level. Cryptocurrencies are among these technological advancements. They provide a different experience to fiat banking methods. You won't need to rely on central authorities to complete transactions and start your gambling journey. With crypto, it is possible to gamble anonymously, allowing you to explore an incredible gambling experience. All you need to do is take your time to pick the right platform.

Fortunately, there are many exciting options to choose from. All you need to do is check out the right one and use the crypto option you prefer. Bitcoin is the most popular crypto in the world; it is followed closely by Ethereum. Other honorable mentions include Dogecoin, Litecoin, Cardano, USDT, etc. Ensure you understand how these methods work so you don't have issues getting started. Sports fans can also take advantage of fan tokens to enjoy additional exciting promotions. The only downside is that the crypto market is volatile and can lead to massive loss of money if you're not careful with your investment.

Mobile Payment Methods

Mobile usage has skyrocketed in the last couple of years worldwide with many people choosing to use their smartphones to perform transactions and complete tasks daily. With the use of mobile devices going up, it was only a matter of time before betting sites turned their heads to provide services to the new demography. As it stands, many sites allow players to bet on games using their mobile devices. These sites are compatible with different screen sizes. That way, you don't have to download any additional applications because the software suppliers have ensured that the site can provide services on mobile.

With mobiles becoming a big player in the industry, we now have access to mobile payment methods, and they are also available to South Korean punters. You can use these banking methods to complete transactions on your mobile. Choose a suitable option, pick a corresponding website that will allow you to use the option and is available to South Korean bettors, and get started with your betting journey. In this case, you can use Apple Pay, Google Pay, and other mobile methods. Ensure you understand what they entail and how they work before proceeding.

E-Vouchers

E-vouchers are becoming more popular, and fortunately, they are legal in South Korea, making them a good option to consider when you want to place bets online. These payment methods allow players to make fixed deposits without stress. You don't need to go overboard with your betting spend. You can easily purchase a voucher card from a verified vendor online and use the card to complete transactions. You don't have to worry about paying extra fees at most betting sites when you use this payment method. What you have on your card is what you'll get.

Once you can find a suitable betting site to join, you won't have issues getting started because the payment method is easy to use. Simply understand how the option works and learn about the terms and conditions for using it. You should also keep in mind that you can use e-vouchers to withdraw at online gambling platforms. So, whenever you win enough money after funding your betting account with this payment method, you will need to find another suitable option you can use to withdraw funds. Ensure you check the terms for the alternative method you want to use.

Most Popular Sports to Bet on in South Korea

Best South Korean Betting Sites for Sports

Betting Site	Sports
Betiton	Best for Football
Gamdom	Best for Baseball
Roobet	Best for Basketball

Most Trusted Betting Sites in South Korea

Betting Sites	License
N1Bet	Curacao
Slots Palace	Curacao
21LuckyBet	MGA

Sports betting is growing in South Korea despite stringent laws. There are various betting sites that look to provide opportunities to players in the country. So, whenever you want to start your journey, it helps if you can find a suitable option that will improve your betting experience. Take the time to check the table above to find some of our most trusted betting sites for players in South Korea. Ensure you review the different platforms on the list and pick based on your preference. Follow the instructions and complete the registration process. Additionally, you shouldn't forget to claim the welcome bonus.

Conclusion

In South Korea, betting is somewhat allowed, with certain establishments given the liberty to provide opportunities to players. However, there are restrictions to online betting except for some sports in the country. So, if you want to get started with playing online, you might want to check the various betting sites that accept Korean players and might want to use a VPN to access some of these sites so you don't hit a roadblock. Fortunately, individual bettors aren't scrutinized by the government. So, you can rest assured that you're safe to bet on games in South Korea.

Frequently Asked Questions

What are the Most Popular Sports to Bet on in South Korea?

Baseball and football are the two most popular sports most bettors in South Korea bet on, including the KBO League and K League.

Is there a Tax on Sports Betting Winnings in South Korea?

Online sports betting winnings are subjected to a 22% tax.

Can I Claim Promotions at South Korean Betting Sites?

Yes, you can claim promotions at these betting platforms if you can find a suitable option to join.

Are there any Betting Restrictions in South Korea Betting Sites?

There are certain betting restrictions South Korean bettors must adhere to, such as the ₩100,000 max bet limit allowed, according to Article 246 of the Criminal Act.

Is Sports Betting Legal in South Korea?

Although gambling is illegal, certain sports betting forms are legal.