Koreans like to gamble. They might not be as hard-core as the Chinese but they are passionate gamblers who don’t have the opportunity to do it in their own country.
Although there are casinos in Korea, they are only available to foreigners and not Korean nationals. This means Koreans who want to gamble flock to places like Macau, Singapore and the Philippines where they can enjoy their favorite pastime.
Even Korea’s lottery system seems determined to stifle growth instead of embracing it, as explained in this article by the Asia Gambling Brief team.
Obviously Korea is trying to protect their citizens from what they consider to be the dangers of gambling. However, as far as I can tell this strict control simply means the black market gaming trade continues to flourish locally while well-meaning Koreans are forced to travel elsewhere if they wish to gamble. This is great news for the black market and casinos outside of Korea but how long will the Korean government turn their back on such a large and simple revenue stream?