iGaming in South Korea: An Overview of a High-Tech Market with Strict Rules

The Market in Numbers: Current State and Forecasts

South Korea is a country with extremely high internet (224 Mbps on mobile) and smartphone (88%+) penetration, creating a perfect environment for online gambling. Despite restrictions, the market size is enormous and continues to grow.

• $9 billion – Online gambling market size (2024)
• $2.3 billion – Casino GGR (2024)
• 33 million – Active users (76% of the population)
• 59% – Share of mobile players (3 times more than desktop)

Analysts predict stable growth for the online segment at 2.63% annually until 2035, when the market volume could reach $12 billion.

Player Profile: Who Plays and How in South Korea

The most active audience is people aged 21 to 50. The gender ratio is nearly equal (54% men, 46% women), with the female share constantly growing.

Gaming Preferences

• Casino: Baccarat and blackjack are traditionally popular. In recent years, interest in Asian-themed slots, roulette, and live dealer games has been growing.
• Betting: Only football, baseball, and horse racing are legal through state monopolies. However, unregulated sites offering bets on basketball and esports are immensely popular.
• Poker: Texas Hold'em and Omaha are especially popular among the youth.
• Key Demands: Players value convenient mobile access, social interaction (chats, tournaments), and fast, private payment methods.

Regulation and Taxes: What Operators Need to Know

South Korea's regulatory environment is one of the most complex in the world.

Key Laws and Regulator

The main regulator is the National Gambling Control Commission (NGCC). The criminal code prohibits South Korean citizens from participating in gambling outside of designated areas, even if they are abroad.

• Casinos: There is only 1 casino for citizens (Kangwon Land) and 17 casinos exclusively for foreigners.
• Lottery and Sports Betting: State monopolies.

In 2025, amendments were introduced that tighten control over illegal operators but also legalize betting on esports through the official monopolist.

Taxation

• Casinos for foreigners – 10% of GGR
• Sports betting – 22%
• Lottery – 35% (from ticket sales)

Conclusion: Opportunities and Challenges

The South Korean market combines immense opportunities, driven by technological development and a gambling-inclined population, with serious challenges in the form of a very strict regulatory environment. Legislative changes underscore the government's push for increased control, yet the market's steady growth makes it attractive for operators willing to work in complex conditions.