The Seoul Olympic Memorial National Sports Promotion Foundation’s sports promotion voting rights project has secured an A grade for the third year running in the 2024 gambling industry consolidation evaluation.
Key Takeaways:
- Sports promotion voting rights project maintains top-tier performance
- Perfect scores achieved in eight out of nine metrics
- Commitment to monitoring illegal gambling and protecting youth
Consistent Excellence in Gambling Industry Evaluation
The Sports Promotion Voting Rights Project, operated by the Seoul Olympic Memorial National Sports Promotion Foundation (Sports Corporation), has demonstrated remarkable consistency in its performance. For the third consecutive year, the project has achieved an A grade in the 2024 gambling industry consolidation evaluation, conducted by the gambling industry integration supervisory committee.
This evaluation is a comprehensive assessment of efforts to enhance the soundness of the gambling industry and address social side effects. Since 2010, the Audit and Inspection Committee has been evaluating nine legal gambling industry operating institutions, including sports promotion voting rights, racing, casinos, and lottery.
Impressive Performance Across Multiple Metrics
The 2024 evaluation was based on five sectors and 16 indicators. The sports promotion voting rights project excelled in this assessment, securing perfect scores in eight out of nine metrics. These metrics included compliance with total sales and the proportion of budgeting and execution related to consolidation.
Notably, the project reduced violations of sales regulations by 27% (0.005 cases per session) compared to the previous year. This improvement was observed across more than 6,500 Sports Toto stores nationwide, highlighting the project’s commitment to maintaining high standards of operation.
Commitment to Responsible Gambling Practices
In the non-measurement index sector, the project’s overall operational soundness was rated ‘A0’. This rating extended to the sound operating performance of stores and the monitoring of illegal enforcement industries.
An official from the Korea Sports Corporation stated, “With the efforts of all members engaged in sports promotion voting rights, we were able to obtain A grade for three consecutive years.” The official further emphasized their ongoing commitment to responsible gambling practices, saying, “We will continue to actively monitor illegal gambling and protect youth in addition to improving the system, such as unifying the online purchase limit and expanding real-name purchases.”
Broader Impact on the Gambling Industry
The consistent high performance of the Sports Promotion Voting Rights Project reflects positively on the broader gambling industry in South Korea. By maintaining strict standards and actively working to prevent illegal activities, the project contributes to a more regulated and responsible gambling environment.
This achievement also underscores the effectiveness of national policy projects in creating and managing funds for sports promotion. The Sports Corporation’s success in this area demonstrates how gambling-related activities can be leveraged to support broader societal goals when properly managed and regulated.
