SOUTH KOREA – Koreans’ appetite for online gambling will be dampened with this bit of news.
In an effort to curb the rise in online gambling among South Koreans, a new bill sponsored by the Ministry of Culture, Sports and Tourism aims to put restrictions on the amount of money they can place via online transactions.
The new bill which will be forwarded to lawmakers this September will fine up to US$20,000 or imprison up to two years Korean gamers who will engage in large virtual cash transactions to be able to gamble online. This is an added restriction to the current monthly limit of US$290 allowed of online gamblers.
As reported by the Korea Times, lawmakers have begun to crackdown on online gamblers after their drive to stamp out video gambling arcades or “PC baangs” as they’re known in Korea.
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