Hungarian Online Gaming
That monopoly could be disappearing soon. In January 2013, Hungary sent draft legislation to the European Commission that would open up the sports betting and online casino markets.
The Hungarian Tax Authority is responsible for approving all online gaming sites and licenses. Licenses are issued for an initial five-year period. After the five-year term, operators may apply for an additional five-year license. Net revenues are taxed at 20% and payable to the Tax Authority. Operators need to meet a minimum registered capital of HUF 200 million (approx EUR 690,000) in a member state of the European Economic Area (EEA) or within Hungary, have relevant experience in the industry, and have a certified gaming and business system. ISPs must block unlicensed sites and banking institutions must freeze the bank accounts of unlicensed operators if required by the Tax Authority. Unlicensed operators are subject to fines up to HUF 100 million (approximately EUR 345,000).
In April 2015, the National Tax and Customs Authority in Hungary ordered the nation's media authority to ISP-block 82 allegedly illegal online gambling operators.
In December 2017, Hungary approved amendments to its gambling legislation that required local financial institutions to block payments to and from unauthorized gambling sites.
Online Gaming Properties Operating in Hungary
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