Over 66 Billion in Illegal Bets in South Korea

Tuesday April 16,2013 : SOUTH KOREAN ILLEGAL GAMBLING TOPS $66 BILLION
 
National Gambling Control Commission estimates say online punting is on the up
 
The latest estimates from the South Korean National Gambling Control Commission show that illegal gambling, much of it taking place online, has topped $66 billion annually, reports the publication Chosunilbo.
 
"Illegal gambling in Korea has ballooned by more than 40 percent from 2008 to $66 billion last year, according to the National Gambling Control Commission," the publication reports, noting that the surge stems from increased sports betting and gambling via the internet or mobile technology.
 
Political opinion in the country is divided on whether harsher enforcement measures should be applied to stamp out illegal gambling, or whether the regulatory and licensing route would be a better bet.