17th of January 2013 Author: Glo Wood
Hungarian online gambling market has been expanded in the country's latest draft legislation, which envisages the addition of sports betting and casino games to the existing offering of horse racing and some card games.
The bad news for operators is that costs could easily be pretty high, as the Hungarians are looking for a tax rate of 20 percent of GGR, and a 5-year license fee equivalent to $450,000 for each genre they wish to operate.
In addition, they may face fierce competition in local companies, since the state holds a monopoly at present through its ownership of the physical retail betting group SzerencsejÃ¡tÃ©k Zrt, which has already closed a deal with GTechG2 to go online with its Margin Maker.
The number of licenses to be awarded and what they will be permitted to offer Hungarian punters will be decided by the Hungarian regulator, which is also introducing market shields against unlicensed operators, similarly to those deployed by national regulators elsewhere in Europe, involving blacklists and ISP blocking, as well as heavy fines for breaching operators.
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