Informant Awarded $124 Million for Reporting Illegal Sports Betting Operator in South Korea

South Korea's Sports Promotion Foundation has disbursed 500 million won in rewards to individuals who reported illegal sports betting activities during the first half of the year. The foundation announced that a committee meeting in June selected recipients for these rewards.

Among the recipients, a single informant received the largest single payout of 124 million won for reporting an illegal sports betting operator. This is the maximum reward for reporting an operator under the National Sports Promotion Act, which allows for rewards up to 200 million won for such tips.

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The foundation awarded a total of 500 million won to recipients for illegal sports betting reports in the first half of the year.

The law stipulates penalties for illegal sports betting, with operators facing up to seven years in prison or a fine of 70 million won, and users facing up to five years in prison or a fine of 50 million won. Other reporting categories include users, advertisers, and intermediaries, with rewards up to 15 million won, and reporting sports match-fixing can yield up to 50 million won.

The foundation intends to distribute rewards for the second half of the year either at the end of this year or in early 2025.

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One informant received the maximum single reward of 124 million won for reporting an illegal sports betting operator.