News

Hungary implements iGaming legislation to fight state monopoly

Wednesday 9 February 2022 12:15 CET | News

Hungary’s parliament has introduced new legislation regarding online gaming that will allow private online operators to enter the market, removing state’s monopoly on sports betting.

As per the new proposals, European Economic Area operators can freely launch their online gaming offerings with the permission of Hungary’s gaming regulator, without worrying about a limit to the number of licenses.

Operators looking to obtain a license must have a capital of over EUR 2.8 million and will pay EUR 1.7 million for their fee. Operators are also obliged to offer a minimum guarantee of HUF 250 million (approximately EUR 700,000).

New changes in legislation are designed to ensure a higher standard of player protection without encouraging excessive gambling and allow the use of credit cards for online deposits, as long as they come from an authorised payment service provider. 

Source: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: regulation, online payments, gambling, credit card, digital payments, payment processing
Categories: Payments & Commerce
Companies:
Countries: Hungary
This article is part of category

Payments & Commerce