Korea Racing Authority Targets Illegal Horse Race Betting

South Korea horse racing group, the Korea Racing Authority, has made a deal with the Busan city cops to fight illegal web bets. This move comes as more and more wrong bets are made on phones and social media.

The deal was sealed at the Korea Racing Authority’s office in Busan-Gyeongnam. Both organizations committed to working together on investigations and public campaigns. They plan to share data and allocate resources to stop the expansion of unlicensed gambling tied to the racing sector.

The Korea Racing Authority has observed a steady increase in underground betting operations. Many of these are disguised through private chat groups, unofficial apps, and social media communities. Officials believe this situation is causing financial harm not only to the racing industry but also to individuals who fall into unregulated schemes.

The regulator explained that these activities have created a parallel betting environment. Without proper oversight, they put financial pressure on licensed operations and contribute to broader social concerns. In response, the Korea Racing Authority called for consistent institutional efforts.

The agreement includes the establishment of an information-sharing channel between the Korea Racing Authority and police investigators. This will allow law enforcement to conduct targeted investigations, identify the operators of illegal betting rings, and act on cases more efficiently.

The Korea Racing Authority also committed to providing direct support during investigations. This includes technical assistance and internal data that may help police identify unauthorized activities connected to South Korea horse racing. Both parties also intend to conduct regular awareness programs. These events will highlight the legal consequences of unregulated betting and encourage the public to avoid using such platforms.

A police spokesperson said that the agreement is expected to improve enforcement outcomes. The spokesperson also mentioned that stronger coordination between agencies would make it more difficult for illegal operators to continue unnoticed.

South Korea horse racing operates under strict guidelines. Legal betting takes place mainly through Let’s Run Park Seoul, a track managed by the Korea Racing Authority in Gwacheon. The authority also manages racecourses in Busan and Jeju, following approvals granted over the past several years.

Despite its expansion, the Korea Racing Authority operates within a set of regulations tied to taxation and profit-sharing. Around 60% of its profits must go to a national reserve fund, which is then distributed to livestock programs, rural development, and fisheries. These obligations are designed to make racing revenue beneficial to several industries outside the betting sector.

The Korea Racing Authority not only runs race tracks but also handles horse sales. They recently had an auction on Jeju Island where they sold a two-year old horse for 70 million won (about $51,330). There were 46 horses up for sale, but only 12 found new owners. The mean price for each horse was about 22.42 million won ($16,438), as told by Yonhap News.

This group had an okay from before to build a new race track in Yeongcheon, North Gyeongsang Province. But, the work on this new place has been slow these past few years. They have not set a date for when it will be done.

Officials hope that more structured oversight and coordination with law enforcement will allow the legal racing market to remain stable. By taking action through formal agreements and community-focused campaigns, the Korea Racing Authority and Busan police intend to slow down the rise of unauthorized platforms and limit the financial damage associated with them.

The two parties plan to hold additional meetings to review their strategy and track any shifts in illegal activity trends. The Korea Racing Authority expressed confidence that shared efforts will help reduce the influence of unlicensed betting across the country.