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Yashin had spent around 15 years building businesses across industries ranging from fashion technology and retail hardware to sneaker cleaning, as well as investing in early-stage technology companies. Yet when he attempted to place a football bet, he found the interface so impenetrable that he eventually headed to a betting shop to ask how to do it.

When he subsequently looked at casino games, something else struck him – the experience did not seem dramatically different from the slot machines he remembered seeing years earlier.

“I started thinking about how to combine the really great monetisation of randomness in casino games with the attention loop of social media platforms,” Yashin says. “The idea was: what if you could bet on the result of a short video or a short TikTok?”

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At the signing ceremony, Gyeonggi education chief An Min-seok emphasised the immediacy of the issue: “To effectively respond to youth gambling problems, close cooperation between the Office of Education, which best understands the school environment, and specialised prevention and treatment institutions is necessary.

He added: “I hope this agreement does not remain a mere event but leads to the implementation of practical policies.”

Korea joins many other markets, including Ireland, which in July initiated a national campaign aimed at helping parents and guardians recognise and respond to underage gambling. The campaign will be disseminated through video-on-demand services, radio, digital audio networks and social media platforms.

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Developers could absolutely take away lessons on entertainment and engaging the local audience from this longstanding tradition.

Perhaps casinos in Japan could be more slot-heavy, suggests Leckert. “It’s obvious that, culturally, the Japanese have enjoyed playing these machines. Slots might be more successful in Japan than in Macau or Singapore.”

But Klebanow argues that pachinko engages only one specific demographic of Japan’s spciety. Despite the industry’s scale, the format appeals primarily to young men.