Betting In Hungary
Posted: December 10, 2019
Updated: December 19, 2019
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Betting in Hungary is really just a State monopoly
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High barriers for foreign operators to enter the market
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For better rates and service look abroad
Betting in Hungary tends to revolve around Football which appears to play a large part of all bets wagered. With the Hungarian population standing at around 10 million people, it means that there is a sizable market open towards betting and gambling.
Introduction: Betting in Hungary
In 1991, parliament saw fit to the Gambling Act. Though this legalized betting, it essentially turned the new industry into a state monopoly. Welcome to the seedy world of Hungarian politics! Right now Szerencsejáték Zrt holds all the rights to sports betting and form of the EU, for more transparency and to change aspects of Hungarian betting law.
The Basics
- The legal age for gambling in Hungary is 18
- In 2006, Hungarian banks were forced to block financial transactions using Citibank, MKB, K&H Bank, and Takarebank-issued credit cards
- There is a blacklist: Betclic, Bet-at-home, and Sportingbet , Ladbrokes and Bwin.
- Hungarians cannot deposit funds to their betting s using credit cards issued by local banks
- Hungarian Players are not taxed on winnings
My Way or the High-Way
To that end there have been slow and minor changes that affect the industry across the board. The most major being the introduction of more gambling sites. You can find a list of Bet365, don’t want to set up shop in the land of spicy paprika and blatant corruption.
When the Only Game in Town is a Monopoly
Anyway, why on earth would any punter pick a Hungarian operator. The rates are rubbish and the bonuses equally so. All this drives Hungarian punters to look abroad for foreign operators. But the Hungarian State doesn’t appear bothered by this as they continue to online sportsbooks in the UK. Besides, who other than a Hungarian can understand their language!
