…you can now only pretend to do it for ten hours a day…Not racing related but there have been some regulatory developments in the gambling sector. In the absence of legalized gambling all sorts of alternatives go on in Korea, most of them online. One of the most popular is “virtual gambling” where players take each other on at various games over the internet – Korean Poker or “Go-Stop” being one of the most popular. No money changes hands in these games.
In these games, players are given a certain amount of “virtual money” each day to play with how they choose. There’s no charge for this but when they run out, they have the opportunity to purchase more. Leftover money cannot be redeemed for real money so no actual “gambling” of any consequence takes place – in theory anyway. As with many online games in Korea, a market has sprung up for in-game items. In this case, there are reportedly instances of players selling their credit to other players in pre-arranged games where the “loser” deliberately loses all their game credit in exchange for real money.
Now the Korea Times reports that new regulations are coming in designed to limit players to ten hours each day. No doubt new ways to circumvent these rules will appear – most likely involving the exchange of even more “real” money. In Korea, only foreigners are allowed to legally lose all their money in casinos so Koreans have turned to all manner of different enterprises to get their gambling fix – indoor fishing being a particularly ingenious example before the Supreme Court got wind of it.