ABSTRACT Since gambling for the Korean is strictly prohibited in Korea, they have to travel to the nearby countries for gambling. Macau as one of the biggest opportunities in the gambling world today, hence, is selected as the location for studying the Korean gambling behaviors. This study examines the psychology of Korean baccarat players through a non-participatory, exploratory, survey and observation study. It includes three stages: First, an observation study investigates a sample of 1,100 both Korean and Chinese gamblers’ behaviors in Macau casinos. Second, in order to have a complete understanding of the Korean motivations of gambling, questionnaires are used to have thorough information by using the South Oak Gambling Screen measurement to 200 respondents. Third, the validity results are confirmed by interviewing 20 dealers or floor supervisors. Since most of the study focused on investigating the individual gambling behavior in the mass market (i.e., non VIP rooms), this study conducts a field survey in thé VIP rooms that contributes to the particular settings. It discovers some peculiar behaviors about the Korean gamblers that may include a display of high illusion of control. The observation approach has been adopted to show the differences between the Chinese and Korean in terms of different dimensions (e.g., size of bets, beliefs and time spent on playing). The sample data is recorded and analyzed with statistical methods. Besides, this study draws the comparison between the Korean and Chinese baccarat players in various gambling behavioral dimensions which may derive from monetary, excitement, entertainment and social values from baccarat gaming. The findings of this study will have significant implications to casino operators and game manufacturers.