Asia Pac

New Zealand is taking a ring fenced approach to its gambling framework as it looks to level the playing field between offshore and domestic operators.

Minister of Internal Affairs Brooke van Velden laid out that offshore gambling duty is set to rise from 12% to 16%, with that extra 4% ring fenced to fund community and grassroots sports funding.

Announcing the decision, van Velden emphasised: “While I am confident the regulated online casino market will provide new community funding opportunities for New Zealand sports clubs and community organisations, I do acknowledge that predicting the exact impact on existing Class 4 [pokies] returns creates some uncertainty.

“Cabinet has agreed on a two-year review after implementation of the community returns policy to assess the impact of online casino gambling on other forms of gambling and community returns.”

She added: “The message from communities was loud and clear – if we’re regulating online gambling, they want to see benefits flow back to local sports clubs, community groups and grassroots organisations.

“I have listened, and now as a government, we are delivering on what matters most to communities across the country.”

“Problem gambling prevention and harm minimisation standards are non-negotiable and unchanged. Protecting Kiwis from gambling harm is still my number one objective.

“Community funding will not compromise this government’s commitment to reducing gambling harm.”

Rallying against proliferation

Van Velden has long spearheaded the campaign to safeguard against the proliferation of gambling operators in New Zealand, implementing regulation to ensure that a maximum of 15 licences can be issued in the country.

The increase comes at a vital time for the industry as it approaches the two year mark of regulation, which means an examination of the sector’s performance and structure will take place.

There has also been pressure around the impact of gambling within local communities and the economy as questions are raised over the prevalence of offshore gambling operators in the country.

Commenting on the upcoming review, van Velden said: “This evidence-based review will inform necessary adjustments allowing us to make informed policy decisions based on real-world data in future.

The Minister added: “This is new money on top of existing funding from pokies, Lotto, and TAB. We’re not taking anything away – we’re adding to what’s already there.

The Bill addresses a critical gap in New Zealand’s regulatory framework.

“Right now, Kiwis are gambling on thousands of overseas websites with no safety nets, no spending limits, and no recourse when things go wrong. That’s unacceptable.

“This Bill brings those operators under New Zealand law, with proper consumer protections, harm minimisation measures, and now – community benefits.”

The ring fencing approach to gambling taxation has been taken up in other markets, with government’s aiming to ensure that state revenue from the gambling industry goes to the right places.

It’s a particularly common theme in Australia. However, the New Zealand model appears more defined and purposeful than the model adopted in Australian states.

This may indicate that the New Zealand government is looking to alter the framework for offshore gambling operators, and enable the domestic TAB betting operator, managed by Entain under a 25 year contract, to thrive.

Closing off the market to offshore firms would also enable New Zealand’s domestic casino space, both incumbents like Sky City and potential new market entrants under the planned 15 licence framework, to better compete.

A different ring fencing strategy proposed in the UK

The idea of ring fencing was also touted as a potential solution tackling high risk gaming engagement in the UK during a Select Committee hearing this week.

This idea was met with disdain, understandably, from the UK trade body, the Betting and Gaming Council. MPs seem in favour, however, with Treasury Select Committee member Dame Meg Hillier the MP stating: “In other industries you can have ring fencing of different types of activity.

“Is that something you have considered at the Betting and Gaming Council, so that you can have online treatment in one way, even though the businesses operate as one? Would you consider ring fencing so that you are taxing things on different bases?”

The BGC’s CEO, Grainne Hurst, fired back with: “I think that would be difficult for operators to do. Obviously, they will be reinvesting some of their profits back into particular areas of the business where they think it is needed. If they were to ring fence particular elements of their offering, that would be quite difficult and would probably lead to a reduction.”

Vietnam could be shifting towards a new approach to gambling regulation as local media reports suggest two land based casinos could be set to open to local players.

Frameworks are strict when it comes to limitations on local residents gambling. Currently, casinos, online betting and sports betting remain illegal for Vietnamese citizens.

However, there have been pilot programs launched that are enabling locals to gamble in these venues, with these pilot programs being expanded for a further five years.

The Grand Ho Tram and Van Don Integrated Resort are the two resorts at the centre of the pilot program’s expansion.

In order to ensure the financial viability of each entrant, the Ministry of Finance has put forward entry fees of VND 2.5 million (approximately $100 USD) for each 24-hour period of casino access, as well as VND 50 million (approximately $2,000 USD) for a monthly pass.

The pilot expansion will require final sign off from Vietnam’s Prime Minister, Pham Minh Chính and the country’s Minister of Finance.

This is a similar approach taken to that of Singapore, a framework that by many is considered the gold standard in Asia.

It marks the continued evolution of the country’s decree on gambling, with it also ensuring that, in order to strengthen the links of firms in the country, with local laws and market development, foreign online game suppliers must have a presence in the region.

There are also stringent age verification and surveillance frameworks placed upon casinos at the centre of the pilot program expansion.

Vietnam’s Corona Resort & Casino in Phu Quoc was previously utilised as part of the trial for enabling local residents to gamble. Whilst results for this trial were significantly limited by COVID, it is reported that the resort could be enabled to take on the permanent inclusion of local players.

This is a move that further underpins that evolution of the gambling framework and the country’s shifting stance when it comes to casinos.

Kuwait officials have reportedly eradicated a network that allegedly facilitated online gambling and enabled the illicit transfer of profits abroad.

According to investigations, the network was at the heart of significant money laundering operations, which utilised a myriad of avenues to transfer funds.

First reported by the Kuwait Times, trading outlets, delivery services, health salons and perfume shops were all avenues tapped into by the network to siphon money out of the network.

The site also reported that the busting of the lucrative network led to the seizure of funds totalling around KD 153,837 (£373,805), whilst funds transferred from abroad via unofficial channels totalled KD 25,000 (£60,750)

The Ministry of Interior has underpinned that the arrests and referrals to public prosecution are part of its much wider strategy to tackle illicit gambling.

Key figures from the network were reportedly based in Turkey, with a statement from officials emphasising that there is nobody above the law in terms of tackling gambling.

Laws are incredibly strict in Kuwait when it comes to gambling, with the activity being prohibited and any engagement resulting in fines and imprisonment. Furthermore, money laundering any profits from the business can also result in significant sanctions from the Government.

The only previous efforts for the legalisation of the gambling industry in Kuwait dwindled before they gained real momentum in 2014.

Politician Waleed Al-Nasser proposed the plans to boost the economy and diversify the tourism sector in Kuwait, but they were met with vehement opposition.

Since then, the Middle East has transformed in many ways, as a cultural shift has been undertaken in the United Arab Emirates.

This has included the gradual expansion of its gambling regulation, which included the formation of the GCGRA, the federal body responsible for regulating all commercial gaming activities in the region.

Nonetheless, even with this expansion, operators and suppliers looking to move into the UAE have been warned that they should anticipate tough conditions.

In a recent interview with iGaming Expert, Lau Kok Keng, who was at the heart of shaping Singapore regulations, underlined that even at the early stages, there are key lessons for operators.

He stated: “The UAE is in the early stages of regulated gaming, and the legal and regulatory framework is still very much evolving. Operators looking to enter the UAE market should stay abreast of all legislative and policy updates, build relationships with government agencies, local partners, and community leaders to understand cultural sensitivities and regulatory expectations.

“The UAE is likely to adopt a highly regulated and tightly controlled model, with a strong emphasis on anti-money laundering, responsible gambling, and social safeguards. Operators must be prepared to meet stringent compliance standards.

“The UAE is also a conservative society with unique cultural and religious considerations. Marketing, product offerings, and customer engagement must be tailored accordingly. Any investment in the UAE market needs to be a long-term one, with investment in local talent, training and infrastructure necessary.”

The Malaysian government is set to take aim at meta over the prevalence of black market gambling ads that appear on the site, according to a report by The Scoop.

It comes ahead of a crunch meeting between the two parties over the advertising of black market operators across social media sites, specifically Facebook.

The meeting, which is set to take place on 22 September, arrives following a flurry of complaints from the government over the lack of action from Facebook around harmful advertising.

One of the central issues set to be raised by the government’s Communications Minister, Datuk Fahmi Fadzil, is around the lack of action when it comes to blocking credit cards with known links to black market websites.

Speaking to reporters, he stated: “If a gambling ad is paid for using a credit card, and Facebook knows this content is illegal in Malaysia, they should block the credit card account used. But Facebook has refused to do so.”

“Many people benefit from these platforms socially and economically – but we cannot allow criminals to misuse them for profit or to commit online crimes.”

He also took aim at the platform over the accessibility of black market gambling adverts and just how prevalent they are.

Social trepidation across India

This issue is not isolated to Malaysia, a recent report by the All India Gaming Federation revealed the extent at which players in the country engage with the black market.

The report detailed that unlicensed betting platforms had a total of 1.6 billion visits over a three month period.

It was a report that specifically took aim at poor effectiveness of the current measures being in place when it comes to halting the black market – specifically pinpointing website blocking measures as not having the desired effect.

This partially comes down to illegal operators utilising mirroring websites to enable users to circumvent blocking regulatory takedowns and blocking protocols.

Central to this is the usage of new UPI accounts in order to evade detection from website blocking strategies.

The report cited RBI data from July 2024, which states that mules funnel around $300m in illicit funds every month, with the illicit gambling market being one of the most significant beneficiaries of these transactions.

It revealed that mules provide one of the key ways for the illicit market to evade regulatory and financial frameworks, an evasion they rely on to be sustainable.

Furthermore, there is also evidence, according to the report, that using blocking as the sole strategy when it comes to crippling the black market is simply ineffective. The report cited Norway, the UK, Denmark, Belgium, and the United States as markets that highlight this.

The network utilised by illegal operators was described by the report as “highly sophisticated”, engaging with a myriad of payment journeys and currencies – these include UPI transactions facilitated through mule accounts, cryptocurrencies, and international wallets.

In terms of traffic drivers to the illicit market, the report cited the significant impact of social media and influencer marketing, calling on strictness of advertising policies to be increased.

It detailed that over a three month period, social media drove 42.8 million visits to just four illegal sites, whilst referral traffic generated 247.5 million visits, primarily from adult sites, gambling affiliates and promotions on sports and video streaming platforms.

It specifically took aim at the Facebook advertising policy, which has grown monumentally in recent times.

iGaming Expert Analysis: The action of the Malaysian government could well usher in strengthening of strategies from across Asia when it comes to ensuring that social media giants do more to tackle the black market. We have already seen in India the impact of Instagram and Facebook when it comes to black market engagement. We have also seen the recent growth of TikTok when it comes to a platform that bolsters black market engagement.

The Malaysian government is clearly intent on ensuring that social media platforms do more and unsurprising given the funnel that social media can provide to the black market – here’s hoping that other governments will follow their lead on this one.

Amidst continued speculation about the future of online gaming in the Philippines, PAGCOR has underpinned the significant economic impact of the regulated sector.

PAGCOR Chair and CEO Alejandro H. Tengco emphasised that a significant amount of fees stems from licensing in the country.

Tengco stated: “Because of its huge potential, online gaming has become an important source of funds for our nation-building commitments, including PAGCOR’s support for education, health care, and community development.

“Every peso we collect from the gaming sector translates to meaningful projects such as classrooms for our children, health programs for our people, and safe spaces for communities in times of calamity. This is how we ensure that gaming directly benefits Filipinos.”

PAGCOR and President Marcos’ Government have been at loggerheads in recent months as the country sits on the cusp of a new era of gambling regulation.

Speculation over a total ban on the vertical has been rife, with local media reporting that a total of four bills, three resolutions and a privilege speech addressing the impact of the online gaming industry will be discussed by the Philippine Senate’s Committee on Games and Amusements.

PAGCOR is not only pointing to the economic impact of the regulated market as a key reason for the market not to be outlawed, but also the looming threat of the black market.

“These illegal sites not only deprive the government of much-needed revenues but also expose Filipino players to numerous risks,” Tengco noted.

The PAGCOR CEO underpinned enhanced enforcement against the illegal sector, emphasising its “commitment to strengthening regulation and enforcement to ensure that only legitimate and properly monitored operators are allowed to operate”.

Recent research revealed specific concerns over the continued offering of e-sabong, also known as cockfighting.

Central to the enticing of players to the black market was the allure of juiced-up bonuses of 108%, epitomising the hurdles faced by the regulated market when it comes to tackling engagement with illegal operators.

At the heart of the differentiation in marketing approaches is the affiliate strategy undertaken by both the regulated and the unregulated sectors.

The report revealed that many unregulated operators provide lucrative affiliate programs, sometimes offering 45–65% of gross gaming revenue to attract strong collaborations.

iGaming Expert Analysis: The news narrative tug of war shows no signs of slowing in the Philippines. As we hurtle towards legislative clarity PAGCOR will be doing all it can to underpin the threat of the black market, in a bid to avoid what it would depict as disastrous prohibition action from Marcos’ government.

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Flutter Entertainment Plc has announced its decision to withdraw its Junglee Games subsidiary from India, following the introduction of new laws prohibiting Real Money Games (RMG).

On Friday, the Lok Sabha authorised the Promotion and Regulation of Online Gaming Bill, 2025, a federal mandate which seeks to implement a legislative framework governing India’s gaming sector.

Among its provisions, the Bill includes three dedicated chapters (5 to 7) that define the legal parameters of RMG, which are now no longer permitted. It categorises RMG as: “any online game—whether based on skill, chance, or both—played by a user by paying a fee, depositing money, or other stakes, in the expectation of winning, which entails monetary or other enrichment in return.”

In its announcement, Flutter stated that it is responding to an “exceptionally short timeframe, having only been introduced into Parliament on 20 August 2025, and without a consultation process with industry stakeholders to consider the significant adverse consequences of this action.”

Flutter maintains that it has always positioned Junglee as a social and skill-based gaming platform for Indian consumers—permitted under previous legal interpretations prior to the federal government’s recent determination.

In 2021, Flutter acquired a 51% majority stake in the San Francisco-based games studio Junglee Games for $70 million. The business, founded in 2013 by Ankush Gera, had grown into India’s largest community for rummy and other non-poker card games, with a player base of over 100 million.

According to its 2024 accounts, Junglee nearly doubled revenues (+91%), though its EBITDA performance was severely impacted by the introduction of India’s 28% Goods and Services Tax (GST) on gaming.

Markets were informed that: “Flutter’s Indian operations were expected to contribute approximately $200m in revenue and $50m in Adjusted EBITDA in 2025, with approximately half of the profits to be delivered in the second half of 2025.”

Further costs are anticipated as Flutter has yet to determine the full accounting implications of the decision, including any non-cash impairments to the Junglee business. Additional disclosures will be made in due course.

Despite withdrawing from RMG activity, Flutter’s leadership is evaluating options “to advocate for the restoration of the 70-year-old constitutional protections afforded to skill-based games.” At the same time, the group is working swiftly to adapt to the changed regulatory environment while continuing to promote the benefits of fully regulated products.

Peter Jackson, Flutter CEO
Flutter also reiterated its continued investment in India’s technology sector, having expanded its Hyderabad-based Global Capability Centre (GCC) to over 1,000 staff, supporting the growth of its entire global brand portfolio.

Peter Jackson, CEO of Flutter, commented:“I am extremely disappointed with the sudden changes to the regulatory landscape in India. Over the last four years, Junglee has invested significantly in its local market, building a workforce of over 1,100 employees to deliver innovative skill-based gaming products to Indian customers.

Central to this has been a strategy which prioritises consumer protections and responsible gaming. We believe this change will drive customers to the unregulated market, offering limited consumer protections and providing no contribution to the local economy. We believe in regulatory frameworks that put customers first, and are evaluating options to restore skill-based games in the Indian market.”

Weekend reports confirm that several prominent RMG studios—including Dream11, My11Circle, Zupee, Gameskraft, Mobile Premier League (MPL) and Probo—have shut down their real money operations in direct response to the government’s landmark decision.

In the case of Probo, the company has confirmed the closure of both its opinion trading app and its fantasy cricket platform, Team 11, marking a significant rollback of its product offerings.

The future of India’s digital gaming economy now hangs in the balance. Industry analysts estimate that over 400 active game studios and platforms are currently operating in the Indian market collectively valued at $4 billion in 2024— which must now evaluate whether to withdraw, restructure, or modify their offerings under the new regulatory regime.

Breaking headlines in India report that the government has been presented with a Bill to overhaul the rules and definitions of Real Money Games (RMG) and Games of Skill.

Branded as the “Promotion and Regulation of Online Gaming Bill (2025)” the full text of the Bill is yet to be published, but has been referenced by local media quoting ‘close sources’.

The Union Cabinet approved the draft on Tuesday afternoon, with sources expecting the legislation to be formally tabled in the Lok Sabha on Wednesday.

International vs Local Coverage

Coverage has been split sharply between international and domestic media reporting on the Bill’s articles.

International wires, led by Reuters, frame the Bill as a blunt instrument that enforces a “hard prohibition”. The Reuters headlines emphasise India’s intention to “ban online games played with money”, presenting the measure as a direct assault on an industry that has attracted billions in foreign capital.

By contrast, local media outlets lean towards describing the move as a distinct regulatory overhaul. Reports in the Economic Times and Times of India suggest the government’s objective is not simply to outlaw gaming but to redefine what qualifies as Real Money Games. That means banning formats where money is staked, while expressly encouraging esports and non-monetary social gaming.

Commentary in The Hindu and Business Standard adds further nuance, stressing the government’s ambition to formalise a national framework. They note the Bill could eliminate today’s patchwork of state-level laws and conflicting bans, replacing them with a single, uniform code that would bring consistency across India’s fragmented online gaming sector.

What is reported?

Common themes reported in detail that the Bill will recommend a ban on advertising and endorsements of real-money game platforms and further prohibit banks and bar banks and non-banking financial services from processing financial transactions for games and platforms classified as RMG.

A much tougher enforcement is expected, with prescribed penalties of up to three years’ imprisonment and fines of up to ₹1 crore (€110,000) for operators, and up to two years or ₹50 lakh (€55,000) for advertisers.

The Bill is expected to grant centralised powers to federal authorities to restrict and prohibit consumer access to RMG platforms, including the use of direct IP blocking and the authority to terminate internet connections.

The draft is understood to have been prepared by the Ministry of Electronics and Information Technology (MeitY), with Cabinet ministers signalling strong support. The text reflects the recommendations of India’s Tech Council, which has pressed for the Union Cabinet to endorse the Finance Ministry’s move to apply a 40% Goods and Services Tax (GST) on gaming revenues.

Industry Fallout

The Economic Times warns that a sweeping ban on money games could hollow out India’s RMG sector, driving users offshore and costing the exchequer as much as ₹20,000 crore (€2.2 billion) in annual tax revenues. Industry leaders fear that the measure risks jobs, investment, and innovation, while leaving users vulnerable on unregulated platforms.

News of the federal government’s approach to regulating Real Money and Skill Games has dominated this summer. Amid a series of legal challenges, the Supreme Court announced it would review the legal boundaries of RMG and other formats in consultation with tech giants Google and Apple.

The consultation was prompted by high-profile cases before the Supreme Court concerning the involvement of celebrities, athletes, and Bollywood stars in promoting Real Money and Skill Games – an area where India lacks uniform legislation to define regulatory remits.

All eyes on the Lok

For now, the exact text remains unpublished. Observers expect the Lok Sabha to release the Bill upon its introduction on Wednesday. Only then will the contours of India’s gaming regulation prohibition, overhaul, or a mixture of both be fully understood.

Research firm, the Fourth Wall, has identified the key differences between the regulated and the unregulated markets in the Philippines, sharing severe concerns over the continued offering of e-sabong, also known as cockfighting.

Utilisation of promotions was also integral to the differences between the two sectors, with promotions for the unlicensed sector being more prevalent and having elevated incentives compared to the regulated sector.

High value bonuses of up to 108% were found as being used to entice players on the unregulated market, underpinning the challenges faced by the regulated market in terms of competing.

At the heart of the differentiation in marketing approaches is the affiliate strategy undertaken by both the regulated and the unregulated sector.

The report revealed that many unregulated operators provide lucrative affiliate programs, sometimes offering 45–65% of Gross Gaming Revenue to attract strong collaborations.

The presence of e-sabong also caused concern, as unregulated operators continue to offer the illegal sport and even tap into audiences that engage with the sport through private groups.

John Brylle L. Bae, Research Director at The Fourth Wall, stated: “Our latest report demonstrates how prohibited games like e-sabong remain easily accessible on unregulated platforms even to high-profile figures, underscoring persistent enforcement challenges.

“Our report shows that the operational differences between regulated and unregulated platforms do not just define how platforms function but also shape the risks and potential harms players face, especially in unregulated spaces.”

He also revealed the need for targeted enforcement and increased public awareness as the threat of the sector continues to grow.

Unsurprisingly, the KYC approach of the unregulated sector is minimal, and according to the report elevates the level of risk associated with the sector – enabling underage players to engage with unregulated gambling sites.

The report also provides details of the impact of payment limitations on the sector and the AML checks implemented by the regulated market.

It leads to the experience of the unregulated market being more frictionless as the challenge for the regulated market to compete intensifies significantly.

The report arrives as the market sits at a crossroads of a vital moment for the gambling sector in the Philippines, with it being reported that a total of four bills, three resolutions and a privilege speech addressing the impact of the online gaming industry will be discussed by the Philippine Senate’s committee on games and amusements.

The outcome will determine whether the industry will be subject to tighter regulations or a total ban.

While increased regulation is not always preferable for the development of an industry, it is clear that change is afoot and greater scrutiny is preferable to an outright ban.In the days before the inquiry began, 19 operators, including Digiplus formed the PlaySafe Alliance of the Philippines. The group states that in doing so they have demonstrated their commitment to responsible gaming, regulatory compliance, consumer protection and combatting illegal gambling.

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Online bookmaker QuestBet has been fined AU$80,000 (£39k) in the state of Victoria for accepting bets from a “distressed customer”.

Suzy Neilan, CEO of the Victoria Gambling and Casino Control Commission (VGCCC), personally addressed the operator, calling the culture it exhibits of non-compliance with safer gambling standards “concerning”.

“Our investigation of QuestBet’s practices found the bookmaker failed to have in place adequate systems to protect individuals identifiably at risk of gambling harm.

“Minimising gambling harm is an obligation every operator holds – including bookmakers – who must monitor customer wellbeing and intervene if they observe signs of distress.

“This substantial penalty demonstrates the seriousness of the bookmaker’s failure to meet its legal and moral obligations.”

The investigation was launched after the customer themselves submitted a signal to the VGCCC, complaining about the operator allowing them to bet even after suffering significant losses.

“We found that between April and June 2023, the customer contacted QuestBet more than 20 times to request additional credits and bonus bets. On six occasions, they mentioned having experienced several large losses,” Neilan added.

“This was a clear sign that the customer was struggling. A sign that QuestBet chose to ignore, instead encouraging and enabling the customer to keep gambling with the aid of bonus bets in five of the six occasions.

“Consequently, the customer lost about $15k over two months.”

Staff of gambling operators must provide assistance to customers facing negative consequences from gambling.

Australia law mandates that when there are signs of gambling harm, operators are obligated to inform players of the various problem gambling prevention tools available to them. In QuestBet’s case, the VGCCC said this was not done.

“QuestBet suggested none of these, thereby breaching the Victorian Bookmakers’ Association Responsible Gambling Code of Conduct and causing further distress to the customer.

“Nor did the bookmaker formally respond to our request for an explanation for its lack of care or a reason not to be sanctioned, despite requesting, and being granted, several extensions to do so.”

The topic of problem gambling is usually very sensitive, particularly right now in Australia where reports come out one after another about the cost that the problem incurs on the economy.

In 2023, the Victoria government estimated that gambling had cost the state $14.1bn in social harm in the year prior.

South Korea will export K-cycling and K-motorboat racing as global betting markets through the International Betting Integrity Association (IBIA).

This was announced at a ceremony held by the Korea Sports Promotion Foundation (KSPO) in London, where it reached a gold standard in integrity by signing a Memorandum of Understanding (MoU) with the IBIA.

The agreement particularly focuses on protecting betting integrity around cycling and motorboat racing, both popular sports among South Korean bettors.

This represents not only a milestone for Korean sports but also for the IBIA, as signing an MOU with an Asian national sports body is the first of its kind for the global integrity organisation.

On signing the MoU with the KSPO, Khalid Ali, CEO of IBIA, commented: “This agreement marks an important step forward, not only for KSPO and the integrity of K-Cycle and K-Motorboat Racing, but for the advancement of betting integrity standards across Asia.

“IBIA is delighted to support KSPO in setting a benchmark for clean, transparent and accountable sports betting operations in the region. We look forward to building on this partnership and helping to protect the integrity of K-Sports’ products.”

Besides cycling and motorboat racing, horse racing is also legal to place a bet on in South Korea. Other types of allowed gambling include lottery tickets, sports toto, and land-based wagering at Kangwon Land Casino venues – with all three verticals being state-run.

South Korea’s betting market recorded around 25.5 trillion Korean won of total sales (€15.bn) in 2024, with approximately 22.86 million players on the market.

Cycling and motorboat racing alone brought in annual sales of 1.9 Korean won (€1.17bn) and 12.5 million users, amounting to around 7.5% of total betting industry sales in South Korea for 2024.

Also welcoming of the hallmark agreement for Korean sports was Sung-chul Lee, Director General of the KSPO. He remarked: “Through this agreement, KSPO K-Cycle & K-Motorboat Racing has elevated the status of K-Sports and has taken a leap forward to global standards.”

“I would like to express my deep gratitude to Khalid Ali and the IBIA officials for their cooperation in making this agreement successful. Following this agreement, we intend to supply the KSPO K-Cycle & K-Motorboat Racing products to the international betting market, protected by this important integrity collaboration.”