[2020 National Audit] Sangheon Lee "Measures Needed to Prevent Illegal Currency Exchange in Sports Betting Games"

Illegal Money Changers Detected in Multiple Sports Games

Lee Sang-heon, Democratic Party of Korea lawmaker [Photo by Yonhap News]

[Asia Economy Reporter Jin-gyu Lee] It has been pointed out that urgent government measures are needed as an illegal currency exchange market targeting sports betting games is still operating.

According to data submitted by the Game Rating and Administration Committee to Lee Sang-heon, a member of the National Assembly's Culture, Sports and Tourism Committee from the Democratic Party of Korea, a total of 51 sports betting games have been rated, and 26 of these games are currently in service.

The problem is that many of these games have illegal currency exchangers. An experiment conducted by Lee’s office confirmed that currency exchange is possible very easily.

Legal sports betting in Korea is only conducted through 'Sports Toto' and the official internet sales site 'Betman'. This is because sports betting is strictly restricted due to its gambling nature.

The current Game Industry Promotion Act and the Special Act on the Punishment of Gambling regulate gambling and gambling-related games strictly for the same reason. Article 28 of the Game Act prohibits aiding gambling activities using games.

Sports betting game companies argue that there is no problem because sports betting games use game money instead of real money for betting. Game companies that have announced the release of sports betting games reportedly believe it is acceptable as long as 'Pick Exchange' and 'Mini Games', where currency exchange mainly occurs, are not included.

Assemblyman Lee stated, "Since the illegal currency exchange market has been confirmed, the rating classification of sports betting games should be reconsidered from the beginning," and "I strongly urge the Ministry of Culture, Sports and Tourism and the Game Rating and Administration Committee to prepare countermeasures."

This content was produced with the assistance of AI translation services.