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A Guide for Online Casino Beginners
Online casinos - almost everyone’s heard about them. First of all, online casinos are generally implemented online to take advantage of the real-life experience of casinos that are built as buildings. As you all know, online casinos are prohibited in Korea, as often reported in the news.
However, such cases are private casinos and many of them are illegally operated casinos that cause financial and legal damage to users. Nevertheless, the reason why Korean users use private casinos is convenience. One thing that many users do not think about is that they are putting the risk of safety and personal information leakage in exchange for convenience.
In this article, we will explain in an easy-to-understand way how to use online casinos more safely and with minimal personal information leakage.
Enter the world of online slots and experience colorful themes and great chances to win big
Enjoy the thrill of live casino and the vivid world of gaming with real time dealers
Sports betting: Predict the outcome of a sports event and bet accordingly.
How far do online casinos get penalized?
Will everyone who gambles really be punished? In principle, everyone who gambles is punished. According to the criminal law, a person who gambles is subject to a fine of up to 10 million won, and if it is recognized as habitual, the punishment is increased to imprisonment for up to 3 years or a fine of up to 20 million won. Of course, there are exceptions.
About 10 years ago, the mother of a famous talent won 10.4 billion won by hitting the jackpot at a hotel casino in Las Vegas, USA, but was not punished. Overseas gambling can be punished under domestic law, but the purpose of the trip at the time was not gambling, but rather temporary entertainment for fun while traveling.
Even if we analyze cases like this, it is difficult to know the exact standards for punishment for gambling. Police who crack down on gambling and judges who decide whether to punish also say that it is not easy to apply the standards. There are no standards related to gambling in the sentencing standards that the court refers to when determining sentences.
A police officer complained, saying, “There is a gambling criminal manual, but when we go out to crack down, there are many situations that are difficult to handle according to the manual.” A judge at Jaegyeong District Court also said, “The types and situations of gambling are so diverse that it is not easy to set specific standards and make mechanical judgments based on them.”
Domestic private online casinos v. overseas online casinos
The biggest difference between the two entities is the presence or absence of a license. While it is considered illegal in Korea, online casinos are legally operated in many countries overseas.
The biggest reason why it is legally possible to operate is because each country has proper regulations on online casinos. The biggest reason why it is considered illegal in Korea is because there is no system in place to regulate online casinos themselves. Even if problems such as “eat-and-run” and “graduation” continue to occur, it is very difficult to control them because there is no system to regulate them.
On the other hand, do financial frauds such as “eat-and-run” and “graduation” exist in other countries? Although the scale may differ depending on the company, they are all operating with legal licenses, so problems such as “eat-and-run” or “graduation” do not occur.
Roles and Types of Offshore Casino Licenses
Your distrust of online casinos hasn't been resolved? If so, below are the roles of overseas casino licenses.
1
It ensures that licensed online casinos use certified and audited RNGs (random number generators are systems designed to generate random numbers without any specific pattern) to ensure that the outcomes of the games are fair and that the outcomes of the games are chosen at random.
2
We implement strict security measures to protect users' financial transactions and provide regulations to protect users' funds.
3
We require online casinos to implement realistic regulations to promote responsible gambling, including self-regulation and deposit limits.
4
In case of a dispute or issue, we act as an intermediary to protect the rights and provide relief to users of licensed online casino sites.
So, let’s find out what overseas licenses are available.
- Malta Gaming Authority License [MGA: Malta Gaming Authority License]
- Curaçao eGaming License
- PAGCOR License [PAGCOR License]
- Isle of Man Gambling Supervision Commission License
- Gibraltar License [GRA: Gibraltar Regulatory Authority License]
The licenses mentioned above are the most well-known ones. The licenses acquired by each online casino company may be different, but they all operate online casino sites by acquiring legal licenses.
Online Casino Signup Process
Online Casino Signup Process
In the case of online casino registration procedures, this also varies from site to site, but generally, the information required is a simple method of registering with an email address or mobile phone number, and depending on the site, there is an option to select a country of residence, and sometimes a detailed address of that country of residence is required. After that, the online casino will ask for email verification, but if you verify the email address you registered, the registration process will be completed.
Differences in verification procedures (KYC) methods
Online casino companies with overseas licenses conduct thorough KYC (Know Your Customer) procedures. So what is KYC (Know Your Customer)?
It is literally the process of identifying the customer using the service and determining whether they are a person who can transact. After registering on an overseas online site, you must prove that you are the user using the website by providing your ID, proof of address, proof of payment method, etc.
For these online casinos, the registration process is easy, they protect the privacy of their users, and they allow coin or cryptocurrency transactions, allowing users to transact without revealing their identity or financial information.
The difference between Korean private and foreign online casinos is that overseas online casinos require a personal authentication process when withdrawing money, but Korean private casinos usually ask for personal information when you first sign up. In fact, the biggest difference is the approval call. Approval calls are only required by private casinos, and are not required overseas.
Differences in deposit and withdrawal methods
Depending on whether the casino has the authentication process explained above or not, the deposit and withdrawal methods can be different. The typical means of deposit and withdrawal are deposit and withdrawal using bank/credit cards or cryptocurrency. Each site has a minimum deposit and withdrawal amount, so we recommend checking the website you are using.
When making a deposit, all online casino companies do not require any procedures, but when making a withdrawal, there are differences between sites. In the case of casinos with a verification process, there will be a user's ID, proof of address, payment method used at the time of deposit, and bank account verification documents for withdrawal. However, casinos without a verification process may omit these procedures.
Types of Online Casino Games
Are you feeling a little bit better now? So, what games are available on online casino websites? The concepts that each site pursues may vary, but most of them include casino slots, video live games, live casino, and sports betting.
So what are casino slots? Have you ever seen slot machines in land casinos? You can think of them as online versions of those slot machines. There are a wide variety of slots, including those with jackpots, puzzle games, pachinko, and story slots. So how much of a difference is there in the payback percentage between online casino slots and land casino slots?
While land casinos have a payback percentage (the Return To Play percentage is the percentage that players can take back for themselves) of around 75%, online casino slot games have payback percentages of 96-98%.
Next, what are the video live games? We are talking about table games such as trump games or roulette. The reason why table games have “video” in the name is to distinguish them from live casinos where you play against real dealers through live broadcasts. There are video poker, video baccarat, and video roulette.
What is a live casino? That's what you're thinking. You can communicate directly with real dealers through live broadcasting. Are you uncomfortable playing at a table with foreign dealers? Don't worry, there are tables where you can communicate with Korean dealers at Evolution Gaming or Pragmatic. The most representative games are classic games such as baccarat, blackjack, and roulette. You can enjoy the games while communicating with Korean dealers. If you're looking for a different game, you can also enjoy live casinos such as "Crazy Time" or "Mega Ball" where the host hosts the game. These are currently the most popular live game shows abroad.
Finally, let me explain sports betting. In the case of sports betting, it is a way to win money by betting on the outcome of a sport. There are many genres of sports that can be bet on, such as baseball, soccer, tennis, horse racing, and e-sports. By betting on the outcome, it makes watching the game more interesting.
Frequently Asked Questions
Sign-up is usually indicated by the words Sign up or JOIN. Click on the word and you can sign up by entering your email address or mobile phone number. It varies by site, but some require you to provide specific information such as your detailed address and mobile phone number when signing up, while others allow you to register with just an email address. After you register your account, you will receive an account verification request via email. Click on the link to complete the account verification and use the website!
If you choose to withdraw from a bank, you will need to submit the documents requested by the casino, and the verification process usually takes about 5 business days. After the verification process is complete, the money will be deposited into the bank, and it can take as little as one day or as long as 10 days to complete the bank deposit.
However, since other overseas casino websites may not provide Korean service, we recommend that you use an internet-based translation tool (Google Translate or Papago) when making inquiries to customer service.
