Hungary to Expand Its Online Gambling Market

[e_abrams]

Hungary intends to increase its online gambling segment and end the monopoly of the state-owned spors-betting Szerencsejatek Zrt.

According to a law passed back in 2014, only entities that operate a land-based business in Hungary are allowed to have a presence online. That law, however, contradicted the EU rule about  free movement of goods and services across the member countries.

Hungary now intends to change its legislation aimed at both sports betting and casino games.

For now, an unspecified number of operators would be awarded a license. However, they have to prove that they haven't offered unregulated services on the territory of the country for the last ten years. What is more, they have to prove their financial sustainability and have to own capital of at least HUF1 billion. Another condition is that they must have been in the industry for at least five years before applying for a license. The application fee is HUF600 million.

Source

I think this is pretty great news for online gamblers in Hungary.