South Korea Crypto Casinos
Want to find out more about South Korea Bitcoin casinos? Our guide will walk you through the topic and cover a range of aspects, from the current legal status of Bitcoin casinos in Korea to how depositing and wagering BTC funds in Korean casinos works.
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South Korea Crypto & Online Gambling Laws Explained
Talking about the best Bitcoin casino in Korea is a tricky subject, as the country has heavy legal restrictions on Internet gambling. Online casinos are something of an underground phenomenon in the country, leading to an overlap with the decentralised world of cryptocurrencies. At any Korea casino, Bitcoin will almost certainly be commonplace.
Online Gambling in South Korea: Legal Status
Online gambling in South Korea has not enjoyed the same popularity as the pastime has in other countries. This comes down to a combination of factors, partially culturally rooted, and partially due to legislative aspects.
South Korean gambling laws treat land-based and online gambling in the same way. This means that since the former is heavily restricted, the latter suffers much the same fate.
Articles 246 and 247 of South Korea’s criminal code spell out tight restrictions for the pastime, with even individual players being liable to be fined.
These regulations have served to push online gambling underground. While there are residents of Korea who take part in online gambling, they do so using VPNs to hide their identities.
The State of Cryptocurrencies in South Korea
Bitcoin and other cryptocurrencies are not recognised as legal money by the authorities of South Korea. That said, exchanges with cryptocurrency are permitted by law, although a heavy set of regulations exist around them.
At the time of writing, Cryptocurrency earnings are tax-free in Korea, although a tax reform plan is lined up to implement a 20% tax on crypto earnings in 2025. This implementation was previously scheduled for 2022 and then 2023 before being delayed, so time will tell if it comes into practice at the planned time.
Around two million people in Korea are estimated to own cryptocurrencies. This means almost 4% of the population. The Korean market powers nearly 30% of worldwide cryptocurrency trading.
Current Events in Korea Bitcoin Casinos: Which Companies are Involved?
Korean crypto platform, Klaytn, offering offset gas and contract fees for (non-gambling) game companies using the platform for its products.
What makes the Best Bitcoin Casinos in Korea
In countries where online gambling is permitted by the government, assembling a list of the top Bitcoin casinos isn't too hard a job. In Korea, however, the forbidden nature of gambling makes it hard for any players involved to distinguish between good and bad casinos. That said, there are still some factors involved, including licensing, security, casino games, customer support and banking systems.
In Korea, as with any country where online gambling is driven underground, it is all too easy for players to fall victim to scams. This is why it is vitally important for any player to verify the licensing of their chosen website.
Licensing & Security:
Korea Bitcoin casinos are hard to come by, which means it can be difficult to know whether they are trustworthy or not. Just because a casino exists does not mean that it is licensed or offers security. The most reputable online casinos will provide full detail about the licenses they hold and their security standards at the bottom of the homepage.
Whether a player is based in Korea or abroad, any online casino they access will live or die by its selection of games. The best live casinos accepting Bitcoin in Korea will have solid line-ups of slot games, table games, live dealer games and possibly even a few arcade games thrown in for good measure.
Different kinds of games at casinos often see shifts in popularity. For example, at the time of writing, there is a current vogue for crash gaming in which the player must make bets before the multiplier crashes. These are the sorts of titles that would doubtless be played at Korea Bitcoin casinos if such sites were permitted to exist.
A reliable online casino will have some sort of customer support for its players, ideally in the form of both email and 24/7 live chat, and a well-trained team able to help the players out of technical problems.
However, the underground nature of online gambling in Korea means that customer support is something that the player may well end up missing out on. Even the best live casinos accepting Bitcoin in Korea might fail to offer advice to players who are accessing the site illegally.
Deposits and Withdrawals at Korea Bitcoin Casinos
Many online casinos today accept Bitcoin and other cryptocurrencies, and the decentralised nature of such payment methods will suit the underground nature of South Korean gambling. Players in Korea are able to use VPNs to access top cryptocoin casinos and carry out deposits and withdrawals using Bitcoin.
Deposit Limits and Requirements
The limits and requirements on Bitcoin deposits will vary from casino to casino. In many cases, an online casino will place different limitations on different payment methods. The cryptocurrency restrictions will often be very different to those placed on more conventional payment methods.
Korea Bitcoin Casino Withdrawals
Online casinos that accept Bitcoin tend to be very straightforward when it comes to carrying out a withdrawal using this method. Typically, there will be an option on the “withdraw” page allowing the user to choose their preferred current and payment method from a menu. In these cases, all the player needs to do is select “Bitcoin” and follow the on-screen instructions.
Many online casinos require their users to provide legal proof of their identity before they can withdraw money. For underground players in Korea, who use VPNs and cryptocurrencies to maintain anonymity, this will be a deal-breaker. However, for users in countries where online gambling is legal, it helps to ensure secure transactions.
Top Games to Play at Korea Bitcoin Casinos
As we’ve mentioned above, casinos games are ultimately what any player is after when they log onto a gambling site, whether it’s a top South Korea online casino or not. Players specifically look for games developed by big-name providers like NetEnt, Play'N GO, Spinomenal, Microgaming and Pragmatic Play. The main varieties are as follows.
Across all Korea Bitcoin casinos, the main draw for players will be slot games. These come in a range of different varieties, including jackpot slots, Drops & Wins, Megaways slots and more, each with its own spin on traditional slot gameplay. At crypto-friendly casinos, players can make bets with Bitcoin.
Bitcoin casinos thrive on staying up to date, but if they hope to succeed, they will need to make sure that they have covered the traditional table games. An online casino will typically have a range of variations on blackjack, roulette, baccarat and the other major table games.
This is the final major category for games at online casinos: the games in which players take part alongside live dealers who appear on the video. These games are sometimes tailored to specific time zones, which may create issues for players in Korea.
Many casinos will also host a variety of other games which don’t fall as easily into the above categories. Whether it’s Bingo, live slot games, casino game shows, or else the increasingly popular and easily accessible casino arcade games, the best Korea online casinos will have a choice selection!
Claiming Bonuses at Korea Bitcoin Casinos
Besides their enticing game selections, online casinos can usually be defined by one other feature – their bonus offerings. A good welcome bonus and great loyalty offers can make or break a casino’s success. Here are the main types of Korea Bitcoin casino bonuses:
- Welcome Bonus — This will typically be a match bonus for the user's first few deposits. Some casinos offer specific Bitcoin bonuses.
- Cashback offers and Reload Bonuses — These are usually weekly or sometimes monthly offers that allow the players to replenish their funds.
- VIP Schemes — For regular users, these schemes allow players to earn loyalty points and win various perks on the side.
Alternatives to Korea Bitcoin Casinos
Although this article is focused primarily on Korea casino Bitcoin usage, we could hardly fail to acknowledge the many other payment methods that are available to online gamblers.
Bitcoin casinos in Korea have seen an increase in popularity due to the relative anonymity they offer their players. Gambling in the country remains illegal, and along with cryptocurrencies seems far from becoming legalized and regularized.
At Top10, we’ve got our fingers crossed that this’ll happen though! A regularized market means less Korean online casino players falling for scams, and better protections against addictions through stringent and high standards. We hope to see the market opening up for players from this country. Who knows, the best Korean online casinos might top worldwide charts!
While certain lotteries and some forms of sports betting are permitted in Korea, online casinos are strictly illegal. Players in South Korea commonly use VPNs to circumvent laws, but this is also illegal and players who do so risk fines.
South Korean players who choose to access international casinos can use Bitcoin and other cryptocurrencies, depending on the individual casino's policies.
Tether, Ethereum, Dogecoin and Litecoin are all cryptocurrencies that are catching on internationally at online casinos.
Fees charged by casinos for deposits and withdrawals will vary considerably. Always check the banking terms and conditions of your chosen casino before committing.
While domestic Korean Bitcoin online casinos are illegal, internationally licensed online gambling sites available in Korea carry the same excellent games selections found abroad. These include slots, roulette, blackjack, baccarat, video poker, live dealer games and so forth.
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