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Advancements in Gambling Technologies – The Need to Update South Korea’s Gambling Laws

By Luwam Tesfay January 4, 2023April 18, 2023

Sports Betting

South Koreans are generally sports lovers, whilst having a strong gambling culture that largely supports sports betting but under strict government regulation. The country’s Gambling Act specifically states that sports betting is legal only on boat, horse and bike races; but the establishment of a state-run Sports Toto allows some local sports betting concessions. However a lot has changed since the introduction of Korea Sports Toto. Many are now calling for amendments that would make the Gambling Act more relevant to present day conditions.

Local gamblers can stake wagers on outcomes of local sports competitions such as fixtures of K Football League, or the latest matches of the Korean Baseball Organization (KBO). Esports aficionados can also bet on esports competitions held in Seoul, Korea.

SoKor Establishes Sports Toto, But Is It the Real Deal?

There was a time when local Korean gamblers placed bets surreptitiously; seeking illegal bookmakers and their agents. While many were punished for gambling illegally, the Korean government provided a solution but on their own terms.

In 1997, SoKor’s Ministry of Finance saw to the establishment of Sports Toto. Two betting facilities, the Sports Toto and the Sports Proto, enabled locals to legally gamble on a range of sports competitions albeit with conditions.

About SoKor Sports Toto

Here, in addition to the legal horse, boat and cycling races, locals can place bets on other favorite Korean sporting events, like baseball, basketball, football, golf and volleyball just to name a few. However, betting style is pari-mutuel, where bettors’ antes are pooled as prize money that will be divided among those who predicted the right winning results. However, the government retains as commissions, a percentage of all the pooled money.

About SoKor Sports Proto

The SoKor Sports Proto allows the fixed odds betting style, which is similar to the conventional sportsbook strategy of offering prize money based on odds. This denotes that at the time the bet was placed, the odds of a team emerging as winner impacts the prize money to be awarded. The greater the odds of a team winning the competition, the higher the rewards offered by the bookmaker. After all, the odds also increase the bookmaker’s chances of gaining from the gambling transaction if the bettors lose on their prediction of the winning team.

At Sports Proto, the betting choices are limited to competitions among local basketball and baseball leagues.

Although these government-run betting facilities somehow provided the gambling entertainment pined for by Korean gamblers, the online sports betting sites that emerged in later years, presented greater satisfaction.

International online sports betting sites particularly those regulated by European and UK Gambling Regulators became accessible globally and across different countries.

Calls for Less Rigid Gambling Laws in Light of Advancements in Communications and Gaming Technology

South Korea’s gambling laws strictly prohibit betting not only locally but also internationally. SoKor citizens staying abroad whether as visitors, or as foreign workers, are likewise prohibited from engaging in gambling activities offline or online while in another country. As a matter of fact, some well known personalities have been jailed for such crimes, while agents of casino junkets have been imprisoned for facilitating gambling trips abroad.

After the COVID-19 pandemic, many local Korean gamblers shifted their focus on online casino gambling. The lockdown episodes gave Korean residents a chance to explore the selections of slot games and casino table games like poker, blackjack, baccarat (바카라사이추천) and roulette, particularly the live dealer games.

Stake Bitcoin Casino Brings Back “NBA Guaranteed Special” Sports Betting Promo

By Luwam Tesfay January 9, 2021February 6, 2021

Now that the NBA playoffs have resumed, some online sportsbooks have launched promotions to make betting on professional basketball matches a lot more fun. Even Bitcoin Casinos like Stake, a crypto gambling site that also accepts cryptocurrencies for sports betting has brought back its “ NBA Guaranteed Payout Special.” This special sports feature is one of the most successful promotions launched exclusively for bitcoin gamblers.

About Stake’s “NBA Guaranteed Payout Special”

Sports betting is not only profitable and fun, especially to NBA fans as they are very knowledgeable not only with the sport but with the related mechanics for online wagering as well. Yet Stake Bitcoin Casino, is not leaving anyone out of the enjoyment as it is giving those still new to sports betting a chance to experience as much fun, through its “NBA Guaranteed Payout Special.” .

This sports promo gives customers placing wagers on NBA games, the opportunity to receive payment as winner, even if the team they chose to bet on loses the game.Still, it’s important to register their wagers with the NBA Guaranteed Payout promo, if they want to receive guaranteed money-back payouts up to a maximum of $100, if the winner of an NBA match led by 16 points or more, regardless of the team on which a promotional bet was staked, customers playing under this special offer will still emerge as winners.

The special playout is exclusive to pre-match betting offers, while qualifying only single bets staked on any selections for the NBA “Winner” markets. Where sports bettors place more than one wager, the special guarantee applies only to the first bet wagered by a Stake customer on a per match basis and for a bet of at least $5. Those expecting to receive payout credits from this promotion will have to wait 48 hours for the cashback to appear in their respective account.

Some Useful Info for NBA Sports Betting Newbies

A lot of newbie sports bettors are still confused when it comes to choosing the betting products offered by bookmakers, as several numbers with either plus or minus sign appear on the moneyline board.

First off, understand that a plus sign denotes the amount of money that a player stands to collect as winnings when betting on each side or team. If the odds indicated on an NBA team is +150, this denotes that if that team wins, a punter gets to collect a total of $150 as payout. The $100 represents the staked bet on the winning team while the $50 is the actual increment or profit gained from the $100 placed as wager.

On the other hand, odds with a minus sign indicate a different betting proposition. A -250 of a betting line means you need to invest or wager $250 if you want to collect a yield or increment of S100 on a wager.

However, the $100 and $250 bets are only examples on how plus or minus signs work as indicators. Sports punters can place bets as low as $5 or more depending on their budget. Now here’s the thing, if you’re placing bets under the NBA promo, the guaranteed payout represents a cashback for those who placed wagers on the losing team.

Moreover, since the maximum guaranteed payout is up to $100, newbie NBA sports bettors have to carefully analyze the odds, as there is a cap to the amount that will be credited as guaranteed payout.

Understanding the Betting Strategies in Indonesian Bandarq Poker

By Luwam Tesfay September 21, 2020December 30, 2020

gambling

A key decision to make when playing BandarQ poker in an Indonesian poker table is the option to play out betting strategies, either as a player or as a dealer.

How Winners are Determined in BandarQ Poker

To be a winner in a round of bandarq, a player’s total hand score must be higher than the total hand score achieved by the dealer. That is where the difference of the betting strategy lies, because in bandarq, the goal of the table dealer/banker is to rake in all bets wagered at the poker table. A bandarq player on the other hand, will make attempts to bankrupt the player acting as dealer/banker in the poker table.

As in any type of poker game, a bandarq game starts with blind bets, which means players stake a sum of money before the cards are revealed.

Betting Strategies of a Bandarq Player

If a bandarq player feels that his total hand-score is high enough to beat the score of the dealer, he can continue by calling the dealer’s play. If the dealer raises the blind bet, a player who is confident of his high score can call the raised bet; or even double or triple the dealer’s raised bet. Now if he thinks that his score cannot best that of the dealer’s, a player can fold his hand outright and not take part in any ensuing betting activities of a particular round.

Sometimes, a player might gamble by bluffing his way into the round. Even if with a low hand-score, a player will raise his blind bet before the dealer reveals his hand score.

Betting Strategies of a Bandarq Dealer

A poker player can play as a dealer in a bandarq table if his bankroll meets the amount required by the site’s game rules. Mainly because all hand-scores will be matched against the hand-score of the dealer. If there is no call or challenge to his bet before he reveals his hand score, the dealer gets to rake in the blind bets staked by all players on a bandarq table.

Now the hard part is when players challenge the dealer before the cards are revealed, which could be tricky if the dealer is holding a low hand score. As the dealer, he has the option to call or not to call the raised bet of each challenger. If he calls because he is confident his hand score is high enough, there’s a chance he will also get to win over a player who was only bluffing.

Now if his hand score is low, he may decide not to call and play with the raised bet. That way, the dealer only has to pay the blind bet staked by the challengers.

Yet a bandarq dealer also has the option to bluff his way out by doubling or tripling the raised bet, usually by gauging the bankrolls of the challengers. While some challengers may be forced to fold, some others will stand pat by calling the dealer’s raise. This could unnerve the dealer and force him to fold if he knows for sure that his card score is weak. If the dealer loses on his low hand-score bluff, paying all winning bets could greatly impact his bankroll.

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UEFA to Confirm Preliminary Plans for Completion of 2019-2020 Championship

By Luwam Tesfay June 16, 2020August 13, 2020

The UEFA is about to confirm preliminary announcements made on how the 2019-2020 Champions League season will be completed within a 2-week timeframe in August.

The governing committee of the Union of European Football Association (UEFA) is slated to convene today to formalize plans of carrying on with just one leg for the quarterfinals and semifinals. The quarterfinals will see action on August 10, while the semifinals schedule is on August 18 and19, culminating with the Champions League final on August 23, 2020

It is expected that all games will transpire behind closed doors, similar to how domestic member associations have resumed their respective season.

Sky Italia reported that the original plan to hold the final matches in Istanbul, Turkey at the Ataturk Olympic Stadium has been scrapped and reset for the 2020-2021 UEFA Championship. The current plan is for the quarterfinal, semifinal and final rounds to take place at the Estádio da Luz (Stadium of Light) in Lisbon, Portugal.

UEFA Schedule Gives Time for Domestic Seasons to Decide Their Fate

The decision to hold the final rounds in mid-August took into consideration that the fate of the 2019-2020 domestic championship league of UEFA members, have to be decided by their respective government. So far, only Germany (Bundesliga), Spain (La Liga), UK (English Premier League), Italy (Serie A) have taken the initiative to complete their respective domestic season.

France’s Ligue 1 will not resume because the French government has no plans of lifting the ban on all sporting events. Paris St-Germain has been awarded the country’s top-flight title, and is one of four clubs to have already punched a ticket to the UEFA 2019-2020 Championship. The other three are: Atalanta (Italy), Atletico Madrid (Spain and RB Leipzig (Germany),

The Netherlands and Belgium have also announced that the ban on sporting events will remain in place; likewise suggesting that there are no plans to resume the country’s distuped top flight championship games.

Resumption of Top Flight Domestic Football Championships Means Return of Football Betting

Nonetheless, the sports betting industry has enough football games on which to base new offers. Bundesliga and La Liga are already seeing action since May 16 and June 11, respectively, while the English Premier League is set to kick off today )June 17. The games are all happening behind closed doors, and punters are also staying safe by staking their football wagers in online sportsbooks.

In Asia, although members of the Asian Football Confederation has conveyed commitments to see to the completion of their 2019-2020 football championship, discussion of plans are still underway. Nonetheless, Asian bettors have not been wanting in online gambling games even during lockdowns, since many of the Asia-facing online casinos were able to keep them company.

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