The purpose of this paper is to analyze the actual situation and problems of the bicycleracing business based on「BICYCLE AND MOTORBOAT RACING ACT, enacted 12/31/1991」and to propose a Direction of Reforms in the same Law. This paper is also focused onrestoring integrity by enhancing the nature of the bicycle racing business as a leisure sport. In this respect, this paper could be recognized originality compared to previous studies. There was a variety of controversies and confusions to limit regulation object of the bicycleracing business since it has the characteristic of gambling and leisure as a sort ofmeandering business. In particular regulation on this business is greatly distorted in terms ofpublic contribution of proceeds from the business. If the meandering business through thesports such as bicycle racing could not guarantee the soundness, it will not be able toimplement the purpose of the original business or legal basis. As the bicycle racing business has raised speculation, gambling addiction causes significantsocial and economic problems such as the increase of various diseases, family breakdown, workdemotivation, increase of derived crime. This paper has focused on finding the institutionalmeasures to minimize betting involvement and the prevalence rate of gambling whilemaintaining the public interest in the bicycle racing business. In this respect, the installationof the OTC Dealer causing gambling addiction should be allowed under the strictrequirements and invalid Betting Ceiling System will need to be regulated through a full-scaleintroduction of the e-card system.