South Korean sports suspected of having been penetrated by match fixers will no longer receive proceeds from Sports Toto, the country's sole legal sports betting agency, and bookies will face tougher punishment for illegal activities.
According to The Dong-A Ilbo, the Sports Ministry has announced stricter measures against match fixing including revising the National Sports Promotion Act to prevent Sports Toto from paying the 10% proceeds to a sport implicated in match rigging.
Sports Toto is involved with five sports: soccer, baseball, basketball, volleyball and golf. Last year, the Korea Football Association received 26 billion won (US$24 million) from the betting entity to finance its budget of 90 billion won (US$83.3 million).
“If we don`t receive proceeds, we have to finance the cost by ourselves, which can make our financial situation difficult,” said an accounting staff member of the football association.
According to The Dong-A Ilbo, the Sports Ministry has announced stricter measures against match fixing including revising the National Sports Promotion Act to prevent Sports Toto from paying the 10% proceeds to a sport implicated in match rigging.
Sports Toto is involved with five sports: soccer, baseball, basketball, volleyball and golf. Last year, the Korea Football Association received 26 billion won (US$24 million) from the betting entity to finance its budget of 90 billion won (US$83.3 million).
“If we don`t receive proceeds, we have to finance the cost by ourselves, which can make our financial situation difficult,” said an accounting staff member of the football association.