Gambling

Gambling is a game of chance with betted money or something of material value. The Korean Criminal Act Article 246 punishes any gambling activity by a fine of not more than five million won or a minor fine. Article 247 of Criminal Act prohibits opening of a gambling place for a profit and punishes a person who violates this provision by imprisonment of not more than three years or by a fine not exceeding twenty million won.

Some casual games with a small betting are not punished. The Korean Supreme Court ruled that a wager of money for a golf game between two was a gambling under the Korean law because the outcome of the wager was dependent on chance and not purely on the golf skills of the player.

Some 'gambling' activities are permitted by and operated by the government. There are Lottos and several lotteries as well as government licensed casinos for both Koreans and foreigners. The horse racing and cycle racing both allow the spectators to bet a small amount of money for fun.