Korea Racing Authority Secures A Grade in Gambling Industry Evaluation
Key Takeaways:
- Korea Racing Authority achieves A grade in 2024 gambling industry consolidation evaluation
- Perfect scores obtained in nine metrics, including compliance and addiction prevention
- Authority plans to launch public campaigns on over-immersion and youth gambling prevention
Korea Racing Authority Excels in Industry Evaluation
The Korea Racing Authority (KRA) has demonstrated its commitment to responsible gambling practices by securing an A grade in the 2024 gambling industry consolidation evaluation. This assessment, conducted by the gambling industry integration supervisory committee, evaluates the soundness and efforts to mitigate side effects within the gambling sector.
Evaluation Metrics and Performance
The KRA’s performance was particularly noteworthy, achieving perfect scores across nine crucial metrics. These included:
- Compliance rate with total sales
- Implementation of electronic cards
- Counseling for problem gamblers
- Monitoring of illegal gambling activities
The authority’s excellence extended beyond these measurable indicators, earning A+ ratings in non-measurement categories such as specialized addiction prevention training for employees and cooperation with related organizations.
Implications for the Gambling Industry
This evaluation system, which covers nine operators across seven gambling sectors including horse racing, bicycle racing, casinos, and lotteries, serves as a benchmark for industry standards. High-performing institutions like the KRA are rewarded with incentives, including potential increases in total sales and reductions in addiction prevention charges.
KRA’s Commitment to Responsible Gambling
An official from the Korea Horse Association stated, “As an excellent institution for sound development, the Korean Horse Association will continue to take the lead in improving the soundness of horse racing and protecting users.”
The KRA’s future plans include launching public campaigns addressing over-immersion and youth gambling prevention, aiming to establish a preemptive prevention system.
Collaborative Efforts in Gambling Regulation
The authority’s commitment to responsible gambling extends beyond internal practices. In February, the KRA participated in a joint campaign to prevent illegal gambling, collaborating with the Board of Audit and Inspection and other gambling industry operators. Additionally, March saw the KRA partner with the Gwacheon Police Station for a campaign focused on preventing youth gambling problems.
These initiatives underscore the gambling industry’s collective effort to promote responsible practices and mitigate potential harm associated with gambling activities.
