Page Summary:South Korean Won betting sites with the different deposit methods they accept are listed on this page.
Okay, so the South Korean Won might not be the most widely used currency in the world, but it is the currency of a country with a large number of gamblers, all of whom love to bet on the various sporting events happening both at home and abroad. This article is going to look at the different sites that accept the South Korean Won as a currency, as well as the legal aspects of paying tax on any winnings if you live in this country. Also, we will recommend the best way to pay when using any gambling sites in conjunction with KRW.
Which Sites Accept South Korean Won?
There is only one site that currently accepts South Korean Won as a valid currency, but luckily it is one of the best sites around for lovers of all different sporting markets – check out our reviews section to see just how much we like this site!
BetVictor.com – BetVictor is a site with a massive range of different markets, meaning that they should offer something to every single gambler out there. What’s more, they also allow customers to both deposit and withdraw using the South Korean Won, meaning that it’s the best places for South Koreans to go to for their gambling needs! They only allow two different methods of depositing though, and these are via credit or debit card. These same methods are also the only ways in which money can be withdrawn from the site as well. Please note that when depositing in KRW, the balance will be converted into another currency when it hits the site, usually USD.
South Korean Gambling Tax Laws
South Korea used to have very strict policies regarding gambling (which we will look at in the next section) but despite this they also have a very lax policy regarding tax paid on any gambling winnings. In fact, punters have no need to pay any tax on profits made from gambling, due to the fact that the government taxes the revenue made by different companies offering gambling, and not the players themselves. In fact, this money goes directly back into sport and helped to create the facilities for the football World Cup held there, as well as many other high profile events.
Recommended Payment Method For South Koreans
It used to be the case that people were downright scared to gamble if they came from South Korea, even in foreign casinos or with offshore sports books, as there was a law prohibiting this. Even though the laws have been relaxed, South Koreans are still understandably concerned about betting online – although many still do!
The fact of the matter is that there are currently no existing cases of people being prosecuted for using their credit or debit card to deposit into an online gambling account and while this remains the case people still do it.
Laws are very anti gambling in South Korea and gambling online is a risk. Using your credit card or debit card is actually really easy for the authorities to trace which is why we recommend using an eWallet instead – visit our deposit options sections for more details and a full list of eWallet options.