South Korea is known for having foreigner-only casinos, and one of the most popular gambling destinations in the country is Jeju. At present, local authorities are considering enabling online Jeju casinos due to the pandemic.
The COVID-19 virus caused a lot of damage to the casino industry. According to the last Korea sports news and gambling reports, Macau is facing another breakout. Jeju wants to ensure it doesn’t suffer the same fate as the Chinese gambling hub.
One way to reduce the risks due to the virus is to offer online gaming. It could bring new funds for Jeju casinos. In addition, it could lower the adverse effects of the lack of visitors in Jeju. However, authorities must consider the pros and cons before approving the proposal.
Online Jeju Casinos Can Be a Reality in the Future
According to betting odds experts, South Korean regulators can look at the Philippines as an example. PAGCOR, the Philippine gaming regulator, legalized online gambling during the pandemic. Also, they are happy with the outcomes. On the other hand, South Korea has been tackling the issue since it was brought up to lawmakers in October.
The fate of online casinos in Korea depends on the Casino Policy Division. It would create the regulatory framework to allow online gaming. Also, it would create rules on who can participate in online gambling.
However, there are concerns that the regulators need to address. According to Korean sportsbook operators, the Jeju gambling industry had a bad reputation in the past. Thus, regulators want to avoid the region going back to its history.
Also, the Casino Policy Division of Jeju needs to consider the potential risks of allowing online gambling. The South Korean National Gambling Control Commission also supervises the casino industry nationally. Thus, online gaming will go through a needle before it sees the light in Jeju.
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