Kim Hyun-bin began his journalism career at Arirang TV from 2012 to 2017, specializing in defense, foreign affairs and the economy. In 2018, he joined The Korea Times, covering society and business, and is currently responsible for embassy affairs.
Sportstoto Korea expands services for foreigners
Sportstoto Korea logo / Courtesy of Sportstoto Korea
By Kim Hyun-bin
By Kim Hyun-bin
Sportstoto Korea is expanding its services for foreign residents on its official website, Betman.co.kr. Starting April 27, foreign residents can sign up for Betman in an effort to attract new customers and strengthen the competitiveness of the Sportstoto business.
According to the operational policies published on the Betman website, only Korean citizens holding a resident registration number were previously able to sign up for Betman, leaving foreign residents having to visit retail shops to purchase Sportstoto cards. The reorganization of operating policies and systems was aimed at solving this inconvenience. The sign-up process involves accessing the Betman website, clicking "sign up," agreeing to the terms and conditions, completing verification and entering personal information.
To purchase Sportstoto from Betman, users must register their own accounts for transactions. Accounts in another person's name or suspended accounts have limited registration. Members of Betman can enjoy various services, such as analysis of matches/games, a blog for the Sportstoto user communities and Betball points usable for various events.
The ways to receive payouts earned through Betman differ for local citizens and foreign residents depending on the tax status of the winning ticket. Tax-free prize winnings purchased by foreign members are deposited in their Betman account.
For taxable prize winnings, foreign members must apply for the payout before checking the winning details through the Betman site. They then enter the prescribed information (foreign registration number, consent to the collection and use of personal information agreement, etc.) to receive a certificate of payout for foreigners.
Finally, they must bring the certificate, their passport and foreign registration number to any Woori Bank branch if the payout amount is less than 100 million won ($75,000) or the head office of Woori Bank (if the payout amount is 100 million won or more) to claim the payout after identification procedures.
“Through our new services offered, we expect that foreign residents who found difficulty purchasing our product will now be able to purchase Sportstoto conveniently,” an official from Sportstoto Korea said. “We will continue making efforts to strengthen the competitiveness of Sportstoto business.”