Lotteries in South Korea operate within a strict legal framework that ensures the integrity of the games and protects the interests of participants. The primary legislation governing lotteries in the country is the Lottery Act.
Under this act, lotteries must be conducted by authorized organizations, which include both public and private entities. These organizations are subject to rigorous scrutiny and must adhere to strict regulations to ensure fairness and transparency. The Korean Lottery Commission oversees the licensing and regulation of these organizations, ensuring that they comply with all legal requirements.
To participate in a lottery, players must be at least 18 years old. The purchase of lottery tickets is legal only through authorized channels, such as designated retail locations or online platforms operated by licensed organizations. It is important to note that participating in illegal lotteries or purchasing tickets from unauthorized sources is strictly prohibited and can lead to severe penalties.
Legal Dorms of Lotteries in S. Korea
According to South Korean law, there are several definitions of lottery tickets, but all of them relate to the means of raising funds from a crowd and paying prizes to select winners. A lottery ticket can be a printed raffle number whereby a winner is determined after a drawing.
It can also be a printed instant ticket whose winner is pre-determined; hence, the results are verifiable immediately after the participant buys it. There are also electronic tickets that are distributed through ICT networks which are recognized by the law. Winning numbers for electronic tickets are announced by a draw.
Similarly, there are electronic instant lottery tickets that are sold via ICT channels and whose outcomes are ascertainable upon a purchase. Another special kind of lottery refers to the printed or electronic raffles prescribed by the Presidential Decree. Lastly, the law recognizes online lottery tickets, which are automatically generated by computers at the point of sale. Here, the outcomes are subject to drawings.
Lottery Acts South Korea
Licenses for lottery operators are granted under the Lottery Fund Act. The same law also governs online lottery sites in the Republic of Korea. Under Article 4 Section 2 of the Lottery Fund Act, no person is allowed to sell lotto tickets to end consumers at a value exceeding the price prescribed by the Korean Lottery Commission or more than 200 tickets at a go within the limit of the Presidential Decree.
Furthermore, lottery sellers must verify the age of players. The amended Act 11048 of 2011 states that no one should issue lottery tickets to a juvenile (as defined by Juvenile Protection Act).
In the Specialized Credit Finance Business Act Article 2, selling lottery tickets by credit cards is prohibited in South Korea. The only exception is a lottery that is hard to buy with cash as directed by the Presidential Decree.
Still, under the Lottery Fund Act Article 6, operators of online lottery entrusted by the Korea Lottery Commission shall not sell lotto tickets to make a profit. Plus, they cannot offer online lottos on platforms other than the designated places by the contract.