Online gambling is rising fast in Korea, where figures have come in suggesting the industry will be drawing more revenue than its brick 'n mortar casinos by the year 2007.  In just the last two years, online casinos catering to Korean players brought in three times as much revenue, exceeding the $225 million mark.  Currently there are four large casinos serving Korean players, which according to stats, are primarily 20 and 30 something male and females.  Surprisingly, females accounted for 40% of the players.

It may even be more surprising to hear online gambling is thriving so well in a country that adamantly opposes it and has declared it illegal (although U.S. players are a big exception).  However, the internet betting system is much different in Korean "casinos" than it is in traditional online casinos.  The way it works is that players can buy character cards similar to action trading cards.  The characters, which are worth a variety of points are bought and can then be used to gamble with.  These players, in turn, can sell their winnings (in the form of more cards) to other players who are using them for the same purpose.  No money is actually awarded directly from the casino, and players can still win considerable sums.

There are an estimated 24 million players registered through the Korean network, which as of yet, is not causing a controversy with the government.  Depending on just how much the betting detracts from Korea's land-based gambling operations, like motorboat racing and horses, remains to be seen.  This could potentially call for some governmental intervention in the near future.

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