Hungary Ends State Monopoly on Online Sports Betting In 2023
Online sports betting operators are set to be given the green light to offer their products in Hungary. The European nation is proposing ending the state-run monopoly that meant Szerencsejáték Zrt was the only company offering sports betting. If passed, the news rules will come into effect in 2023.
The sports betting landscape in Hungary is set to change dramatically after the European country announced plans to end its online sports betting monopoly by the state-owned Szerencsejáték Zrt. This move will enable online operators to offer their services in the country.
Current rules mean online sports betting is restricted to Szerencsejáték Zrt customers, which is 100% owned by the Hungarian government. However, this is set to change as the country’s legislators are planning to introduce changes which will significantly change the regulatory rules which govern online sports betting. To find out more, you can visit our dedicated page, where you can read more about the best sports betting sites in Hungary.
The current monopolistic online sports betting regime in Hungary will soon face re-regulation and the introduction of a licence-based liberalised system from 1 January 2023. @DLA_Piper considers the key elements of this system in ICLG #Gambling 2023: https://okt.to/VIrp9i pic.twitter.com/L2rSvY4fIL
— ICLG (@ICLG_GLG) December 14, 2022
Once the bill is passed, operators based in the European Economic Area (EEA) can apply for a Hungarian licence. However, the bar is set high for operators who must meet various requirements.
- Operators wanting to operate betting sites in Hungary must have at least five years of experience running online sports betting or an online casino operation.
- Online betting sites must hold a share capital of £2.4m (€2.8m)
- To offer sports betting or other forms of online betting, a company must apply for a licence which will cost in the region of £1.46m (€1.7m)
- The duration of the licence will vary on a case-by-case basis with a maximum term of seven years
- Operators are required to provide a £601.32 (€700,000) minimum guarantee.
- Any operator found guilty of offering gambling products to a European Economic Area country without a licence within the last ten years will be excluded.
- The bill places a responsibility on operators to produce a player protection action plan.
- The choice of payment provider will also be regulated.
Operators with ambitions to become one of the best Hungarian betting sites must do so without an online casino offering, as the change in law will not affect online casino games. The regulations do not alter the 2014 online casino games regulations, which stipulate that only land-based casino licence holders can provide online casino games.
What Sports are Popular When Betting in Hungary?
For new entrants to the Hungarian market, the best betting sites in Hungary will need to cater for the betting needs of the central European country.
Rather uniquely, the national sport of Hungary is water polo, a sport the country has enjoyed great success in. They are currently ranked 4th by FINA but were the world’s number-one team in 2013.
The Hungarians have won gold medals at the Olympics on nine occasions (1932, 1936, 1952, 1956, 1964, 1976, 2000, 2004 and 2008), and three of their national team are 5-time Olympians; Dezső Gyarmati (1948–1964), Tibor Benedek (1992–2008) and Tamás Kásás (1996–2012).
However, they finished third in the last Olympics held in Tokyo in 2020. The top scorer for Hungary is Tibor Benedek (65 goals, 1992–2008).
Hungary has taken part in every World Championships. They have won this championship three times: in 197 Hungarian 3, 2003 and 2013, but have struggled recently, finishing 7th in 2022 and fourth in 2019.
The Hungarian water polo team are the most successful country at the European Championships. Of the 35 tournaments held since 1926, Hungary has participated in 34, winning the competition 13 times. They finished second this year but won in 2020.
Football Betting in Hungary
Football is likely to be a focus at the best betting sites because although water polo is the national sport, football is the most popular.
Unlike in water polo, the Hungarian national team has not enjoyed much recent success in football. Although, in fairness to the 36th-ranked team, the draws have often been unkind to them, and they have found themselves in several “groups of death” in recent times.
One example of this was during Euro 2020 (played in 2021 due to the Covid pandemic), in which they were pitted against the defending European champions, Portugal, the world champions France and the 2014 world champions, Germany.
They performed well for such a small country, keeping the scoreline against Portugal to 0-0 with six minutes remaining before losing concentration and conceding three quickfire goals in a 3-0 defeat. In the game against France, they took the lead in added time in the first half thanks to an Attila Fiola goal. Antoine Griezmann equalised for France, but a 1-1 draw was a great result.
Hungary needed a win against Germany in the last game, but despite taking the lead twice, the game ended 2-2, meaning heartbreak for Hungary.
A year later, the draw was again unkind to Hungary in the Nations League after they were drawn against three previous world champions, Italy, Germany and England. But, although the bookmakers priced them as underdogs in every game they played, Hungary played remarkably, beating England at home and then 0-4 at the Molineux Stadium in Wolverhampton in one of the biggest shocks in the competition’s short history.
Southgate admits he is “conflicted” over whether to go on, and will not rush into any decision that could be a “mistake” found “large parts of last 18 months difficult”, particularly noting criticism and the boos at Wolves during the 4-0 defeat by Hungaryhttps://www.independent.co.uk/sport/football/world-cup/gareth-southgate-future-england-coach-b2243131.html
— Miguel Delaney (@MiguelDelaney) December 11, 2022
By beating Germany 1-0 in the last game, Hungary ensured they stayed in the top group, and the result ensured England dropped into the second tier.
Hungary’s golden age was during the 1950’s and the team at the time was even named the “Golden Team”. But, unfortunately, they lost in the World Cup final in 1954 against West Germany, a controversial game in which allegations of bribery against the referee were made.
Each year FIFA presents an award for the most beautiful goal of the year: the FIFA Puskás Award. This award is named after Ferenc Puskás, who played for Hungary from 1945 – 1956. He is widely regarded as the best Hungarian football player the country has produced.
Just a reminder, you can find out everything you need to know about betting on football and other sports at our dedicated page on the best betting sites in Hungary. In addition, you’ll find a list of reputable betting companies with great deals for new customers.
