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MasterCard Debit in South Korean Casinos
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While South Korean online casino players know well that online gambling is off the table within the country's borders, they still manage to get access to sites that offer MasterCard Debit as a payment method and they are still enjoying their favorite casino games, no matter what. This debit card allows them to transact in their native currency, the Korean won, but it also gives them options when it comes to sites to choose to join since it is incredibly available across the online gambling industry. As such, the solution is more than convenient to use for deposits and withdrawals in your native currency, so if you wish to know more about it, stay with us. What is MasterCard Debit and why select it as your payment method at a South Korean online casino?
Online Gambling Regulation in South Korea
The situation with gambling in South Korea is more than complex. While the country offers land-based casino establishments, scattered within its borders, locals are not allowed to frequent them. Yet, the industry is bringing serious money to the country, with major casino projects initiated by leaders in the business, thanks to the fact that South Korea is a tourist attraction. But, since locals are not allowed, and the authorities stick to this and other strict rules for operators, and there are many other countries that have loosened their gambling regulations, many operators decided to exit South Korea projects and focus on other more lucrative destinations. Around 2015, South Korean officials authorized them at cruise ships, but casinos were still intended for tourists only, not South Korean citizens. So, even though legal, land-based casino gambling is off-limits for South Korean players.
Many South Korean players thought they would find an escape in online gambling, as soon as it emerged, but no: the authorities banned it. Players are not permitted to join online casinos and the authorities are really focused on making sure it stays that way. When gambling first went online, the country made sure to be perfectly clear in its stance and showed no intention to ever consider legalizing it. In fact, it even started going after those who would try and offer online gambling to South Korean citizens. But even though some raids were successful, the authorities could not fight against offshore operators that were targeting South Korean players.
That's why they took the matter even more seriously and started going after players. South Koreans were threatened that if caught gambling online, they would face serious punishments and penalties. In order to tackle illegal online gambling, they even started blocking the IPs of sites even remotely connected with online gambling and started internet censoring. In addition, financial institutions were instructed to start blocking transactions from and to online gambling sites.
Not all of this was in vain, to be honest. South Korean players today are well aware that they don’t have access to most international online casino sites and know that the consequences of joining one would be too difficult to bear. Yet, many continue looking for ways to get access, by going around the blocks and finding safe passages to join offshore sites, willing to risk it all. If you’re one such player, you should know that you need to be extremely careful, especially when it comes to choosing the payment method to use, as not all of those offered to South Korean players are safe. One that most certainly is and is a great choice for you is the MasterCard Debitcard.
This global card is incredibly popular in South Korea, used by millions of South Koreans for everyday payments and purchases. Luckily for you, it is also insanely available across the online gambling industry, specifically across sites that cater to South Korean players. Not only that, but it is a solution that allows you to use your local currency for your online casino transactions, the won. If it sounds as convenient as it is, make sure you continue reading as in the next section, you’ll learn all about it.
MasterCard Debit is popular in these countries
Casinos for Players from Korea, Republic of that Offer MasterCard Debit
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Using MasterCard Debit Across South Korean Online Casinos
To tell you how MasterCard Debit became such a powerful debit card used across all industries, the online gambling industry included, we have to share a bit about its history when the brand behind it MasterCard was only starting off. In 1966, four major banks in the USA joined forces and designed this charge card, called Master Charge card, to be used by their banked users only. Wells Fargo, the Bank of California, Crocker National Bank, and the United California Bank's users were greatly enjoying it and word of it got heard by over 25,000 other unions and financial institutions which immediately joined in on the fun and started offering the card to their own users, respectively.
Seeing how the card has the potential to go big, the organization behind it started offering loans to users and turned the card into a credit card. With a stellar history, any banked person could get issued with the now-called MasterCard Credit card. However once the organization saw that not every user had a spotless credit history, the need for a different card emerged, a card which can be used for all kinds of transactions but one for which your credit doesn't need to be checked. That's when the organization launched the first MasterCard Debit card, the card for which your history is not checked and you can spend only the money you have in your bank account with.
The card proved to work splendidly for many ever since its launch in 1979, and that's why it got global recognition, as well. Today, it is offered basically everywhere, in every single country, South Korea included. You will find the card across most, if not all, South Korean banks, so as long as you have an account with one, you can rest assured that you’ll be able to get it whenever you want.
To get one, you will need to visit the bank you have an account with and ask the desk clerk to provide you with a form to apply for your card. Some South Korean banks give you the opportunity to do this online, but just in case, know the in-person procedure. Once you get the form, select the type of debit card you'd want to get, as there are usually three different types, each with its own perks and fees. Then, enter the needed personal details and select the way in which you wish to receive your card, either at your home address or at the bank for pickup.
The card should arrive no later than a week, in a sealed envelope that also contains verification codes. It goes without saying that you will need these codes in the future so it would be best if you keep them in a safe place. Some of these codes will be needed upon transactions, so whenever you intend to request a transaction, have them with you.
Now that you are ready to start using your card, it’s time you learn how to do it when it comes to requesting deposits and super-fast withdrawals with it across the large number of South Korean online casinos that offer it.
Deposits and Withdrawals with MasterCard Debit
Every second, if not every single online casino that caters to South Korean players gives you the opportunity to use MasterCard Debit. You will certainly get a large number of sites to choose from, which accept it for both deposits and withdrawals. But before you decide on the one to join, double-check whether it is an option for withdrawals, as not all sites allow you to cash out your winnings with it.
Assuming you’ve found just the right site for you, create a player profile with it. To fund the profile with MasterCard Debit, you will need to go through these steps:
- Making sure you’re logged into your player profile, head over to the Cashier page.
- Look for the Deposits section and find MasterCard Debit’s logo on it.
- Press it and immediately, a pop-up will appear where you need to enter the amount of money you wish to deposit.
- After you press next, you will need to enter the mandatory card details to complete the transfer (cardholder name, card number, expiry date).
- Use the verification code to confirm the transfer and in an instant, the money will arrive in your balance.
To request a withdrawal with it, the procedure will be pretty familiar, with only two major differences. You will need to select the card from the Withdrawals section and then enter the amount of money you wish to cash out. After you provide the card details, you will need to wait for the operator to approve the transaction, and with that, the money will reach your card/bank account in no time. Bear in mind that operators take up to 24 to 48 hours to give the approval, but the transaction is instant once approved.
Conclusion
South Korean online casino players are really pleased with the perks MasterCard Debit provides them with, so they continue choosing it over any other. As a South Korean player yourself, make sure you give it a try at least, and you’ll see that you’ll greatly enjoy the fact that you can make both deposits and withdrawals with it in your native currency.
FAQs
Is gambling online legal in South Korea?
No, gambling online is actually illegal in South Korea and is punishable by law. Players are not allowed to gamble online and operators are prosecuted for targeting South Korean players.
Can South Korean players play across international online casinos without getting punished for it?
South Korean players cannot get access to international online casinos since their sites are blocked. But some players manage to get access, without getting punished for it, by using alternative solutions like VPNs.
Will I be able to choose from a large number of South Korean casinos that accept MasterCard Debit?
Yes, actually. Despite the strict laws and rules, a large number of international online casinos continue catering to South Korean players, around 270 of which are listed here at WoO.
Who do I contact in case my MasterCard Debit withdrawal fails at a South Korean casino?
When your withdrawal transaction fails, check with your online casino’s Support team first, to see whether you have any wagering requirements left unmet, as sometimes it happens. But if the problem is not on the casino’s part, check with your bank, to see whether some technical problem occurred. Lastly, you have MasterCard’s world-class Support Service at your disposal, too, so you might want to get in touch with its team, as well.
Will I need to pay fees when depositing and withdrawing with MasterCard Debit at a South Korean online casino?
Cards usually do come with some fees, but these are charged by the bank, not by the casino. You will need to get in touch with your issuing bank to learn more about the fees, but don’t worry, as you won’t need to pay extra when using your debit card for deposits/withdrawals.