Hungary is a landlocked country in Central Europe and the neighboring countries include Romania and Ukraine to the east, Slovenia, Croatia, and Serbia to the south and Austria to the west. The Hungarian People’s Republic was formed in August of 1949, and is one of the oldest gambling locales in the world, sponsoring many sports and having reasonable rules. These aspects pave way for the bettors as well as the bookmakers. This is a blog post on sports betting in Hungary, the history of gambling laws, and the best betting sites in Hungary.
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Table of Contents
Summary of Key Events
The History of Gambling Laws in Hungary
It is worth mentioning that the history of Hungary and gambling is quite rich and has a long history. Regulations concerning gambling have been put in place since the beginning of the 20th century. But a lot has changed over the years to the shape of the current society that we are in today.
Key Milestones
- 1925: The next important step was legalization of horse race betting which can be considered as the start of the regulated gambling.
- 1991: Act XVI on Concessions was issued to regulate the gambling business and establish the modern legislation on the sphere.
- 2005: The Minister of Finance signed Decree No. 32 that provides guidelines for the issuance of gambling licenses and protection of the concerned parties.
- 2017: The Court of Justice of the European Union issued a negative decision concerning the anti-online gambling laws of Hungary.
- 2022: New legislation was recently passed to liberalize the sports betting market eliminating the state’s control and enabling competition.
Regulatory of Betting Sites in Hungary
Hungary has set the following regulatory bodies to help in the promotion of a fair and transparent gambling environment. These organizations regulate several things about the gambling industry, including licensing and measures against money laundering.
Key Agencies
- Szerencsejáték Zrt. : The Hungarian authority that is most relevant to the regulation of most gambling events. It has a monopoly in terms of sports betting and lotteries.
- National Tax and Customs Administration (NAV): It deals with the administration of taxes and makes sure that gambling taxes are adhered to.
- Hungarian Gambling Supervisory Authority (SZTFH): In charge of the issuing of licenses, regulation and supervision of gambling activities.
Prohibited and Permitted Bets
Some types of bets are forbidden in Hungary, while others are allowed with some restrictions. This is where the differences come in and it is important for bettors to comprehend these differences.
Permitted Bets
- Sports Betting: These are football, basketball, tennis, and many others.
- Horse Race Betting: Only operated by Magyar Lóversenyfogadást-szervező Kft.
- Casino Games: Only on the licensed land-based and online casinos.
- Lotteries and Bingo: Szerencsejáték Zrt. runs the website.
Prohibited Bets
- Unlicensed Online Gambling: To protect the consumer it is strictly prohibited.
- Betting on Certain Events: Political events and the outcomes of legal processes are usually forbidden.
Gambling Licenses and Fees in Hungary
The procedure and the cost of getting a gambling license in Hungary are well stated and rather clear. Here is what you need to know.
License Types
- Casino Licenses: It is used in running physical and virtual casinos.
- Sports Betting Licenses: Given to the operators who provide sports betting services.
- Lottery Licenses: The above are important in the running of lottery and bingo games.
Fees and Taxes
- Initial Licensing Fee: Is dependent with the kind of gambling activity that is being carried out.
- Annual License Renewal: It is compulsory for the license holders to carry on their business.
- Gambling Taxes: The major tax is a flat 9% corporate income tax and specific rates are applied depending on the kind of gambling available.
Best Betting Sites in Hungary
Betting enthusiasts in Hungary can engage in the activities in numerous betting sites that have different aspects and promotions. Here are the picks of the bunch:
20Bet
20Bet is particularly famous for its convenient navigation and a rich choice of markets. Albeit with competitive odds and attractive offers, this site is very much favored by the Hungarian players.
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Mrplay
In terms of the mobile betting option, Mrplay is one of the best options since it integrates well with most mobile devices. Their app gives the latest score and odds information.
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888sport
888sport can be easily recognized for such features as a great choice of sports and high-quality customer support. Players can engage in numerous markets and promotions of the site.
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The Chronology of Hungarian Sports
Some of the significant events that have occurred in Hungary have influenced the local betting market with regard to sports events.
Key Events
- 2010 UEFA Futsal Championship: Conference took place in Debrecen and Budapest.
- 2017 FINA World Championships: Increased the activities of local sports betting.
- Hungarian Grand Prix: A classic in the Formula 1 dates.
Celebrating Hungarian Sports Stars
Like any other nation, Hungary has produced several icons in the field of sports who have made the country proud. The following are some of the things that they have done and continue to do to shape the local sports betting arena.
Notable Athletes
- Ferenc Puskás: Goal king and one of the greatest football players of all time.
- Krisztina Egerszegi: Olypmic gold medalist in swimming with five gold medals.
- Katinka Hosszú: Swimming superstar of the contemporary world with numerous records to his credit.
Gambling Laws of Neighboring Countries
For the purpose of this paper, it is relevant to present the gambling legislations of three neighbouring countries.
Austria
- Licensing: General licensing of different types of gambling.
- Regulations: Laws that protect the consumer to the highest degree.
- Taxes: The negative implication on the other hand includes:
Slovakia
- Licensing: The market is completely laissez faire and there is the distinct classification of license categories.
- Regulations: Under the regulation of the Gambling Act.
- Taxes: Reasonable tax levels in the comparison with the surrounding countries.
Romania
- Licensing: Market that has many rules and regulations with very specific conditions.
- Regulations: Concentration on the anti-money laundering measures.
- Taxes: Some of the factors that can be observed include;.
Conclusion
Hungary and its gambling laws and authorities have developed an environment that is secure and exciting to the bettors. Knowing the history, the major laws and the best betting sites to bet on, will enable you to get the most out of the experience of sports betting in Hungary.
FAQ about Betting Sites in Hungary
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