In North Korea, native citizens are prohibited from legal betting. Only the tourists are allowed to bet on sports like horse racing, boat racing, bicycle racing, etc.
South Korean people come out as stiff, and prim, but they are also fond of sports. So much so that sports betting has become legal in the country. Korean betting for a long time only confined to lottery, horse racing, boat racing, and bicycle racing. To say, since long, South Korean sports betting are played by well defined rules.
Today, there are two legal ways to bet on football, basketball, baseball, Ssirum, volleyball and golf. These ways are:
- Sports Toto (스포츠 토토): It is another name for pari-mutuel betting.
In Sports Toto the player’s money goes into a wager/bets pool. 50% of the bet money is retained by Sports Toto. It will make for their profits, duty and betting system costs. The remaining 50% of bet money is distributed among the winners, which are the people who got all of their bets 100% correct.
Sports Toto is loved by recreational gamblers. The sole reason being larger payouts on each bet.
- Sports Proto (스포츠 프로토): It is another name for fixed odds betting.
In sports proto, the odds for each wager are given in decimal forms.
Example: If stake is ￦50,000 on odds 1.75, you emerge as winner, you get ￦50,000*1.75 = ￦87,500. Thus, your winning profit is ￦37,500.
This will then be carried forward by combination of a single wager and multiple bets.
Games available for Sports Proto:
- Olympics sports
Understanding the Sports Proto in Korea:
- People placing the bets will have to choose from the list of matches like win or lose or draw.
- Another way is to bet on the match score, with the closest prediction on either lower/above/exact score.
- When results of all selected matches are predicted correctly, only then can a winner be determined.
Be it Sports Toto or Sports Proto ttpick when you visit Korea, and if you are a big fan of sports, do not miss the thrill and enjoyment of legal sports betting. Your chances to win have just increased, knowing about every legal way to bet in Korea.