Hungary has passed igaming legislation to break up the state's monopoly.
If you run a land-based casino and want to open a business that does online casinos and poker, you can get a license. If you run a sportsbook, you can only get a license from the state-run Szerencsejáték Zrt betting monopoly.
Under the new proposals, operators from the European Economic Area will be able to start offering online games in Hungary if the country's gaming regulator gives them the go ahead first. There is so far no limit on the number of permits that can be given out at this point in the game.
Operators who haven't had a license to offer igaming in Europe for the last 10 years will not be able to open a business in Hungary.
Credit cards can also be used to make online deposits, as long as they are linked to an approved payment service provider.
Any operator that wants to get a license must also have a share capital of at least HUF1bn (£2.4m/€2.8m). It will cost HUF600m (€1.7m/£1.4m), which will be paid to the Hungarian State Treasury. Licence fees will be paid in HUF. A minimum guarantee of HUF250m must also be provided by operators. The tax rate for operators has not yet been set.
Changes to the law are meant to make sure that players are better protected. As a way to keep people from exessive gambling , the bill says that a player protection plan must be drawn up by the operator "in accordance with the principle of responsible gaming and protection of players."
The draft aims to open up online gambling by putting a lot of emphasis on protecting players and putting in place guarantee regulatory elements that protect the interests of players."
By fLEXI tEAM