The purpose of this study is to forecast the expansion of the legal sports betting industry according to the growth of the sports betting industry in Korea. And it is to find ways to reduce the negative effects of the sports betting industry due to th ...
The purpose of this study is to forecast the expansion of the legal sports betting industry according to the growth of the sports betting industry in Korea. And it is to find ways to reduce the negative effects of the sports betting industry due to the proliferation.
First, we used the existing literature research method to grasp the size of Korean sports betting market and to understand the size and trend of legal market and illegal market. We also invited professors, sports journalists, mathematicians, lawyers, wagerers of betting company, professional association managers, and betting addicts to three specialist forums to analyze the situation in Korea.
Second, we consider raising the refund rate as a way to increase the base of the legal market. However, the problem of the sports betting industry in Korea is not the refund rate but the total amount of sales. Since the total amount of sales is fixed every year by government, sports betting companies do not need to increase sales by raising the refund rate. In the meantime, illegal businesses raise their sales revenues at high refund rates and do not pay any taxes. Because it is illegal, enforcement is also difficult and the side effect is very large. Our team carefully suggests ways to increase the total amount of sales, eliminate the total amount limitation, induce competition of the companies, and finally impose taxes. We suggest benchmarking the case in the UK.
Third, to find ways to minimize the side effects expected from the development of the sports betting industry, we have studied ways to minimize the socio-cultural side effects that may arise from the increase in the number of participants. Based on the research, discussion, and discussion so far, we tried to prepare a comprehensive plan for anticipating the problems that may arise and solving the problems.
This study analyzes the process of changing the size and shape based on the characteristics of healthy sports betting, and analyzes the limitations of the illegal sports betting industry and the limitations of the system to eradicate it. Based on these results, we propose measures such as expanding the legal market, minimizing the adverse effects of market expansion, establishing a healthy sports betting culture base, raising the refund rate, and establishing a sound sports ethics awareness.