Hungary closer to regulation

Eric Bianchi
April 26, 2011
4 Comments

Hungarian flagAnother long-standing European online gambling monopoly looks set to tumble as Hungary looks at regulating Internet based gambling later this year. Under the new law Szerencsejáték Zrt (SZ), which currently controls all online gambling, will cease to exist as the country aims conform to European Union regulations on online gaming.

They were considering regulation in August last year mainly down to the fact that the unregulated market is already worth an estimated 100bn forints per year and they want a piece of the pie.

According to GamingZion, changes to Hungary’s gambling laws will see the state owned monopoly mentioned earlier ended and licensed free competition would be able to take place. The site also mentioned that SZ has put forward a request for tender offers for a complete online gambling platform capable of providing internet based gaming, including online sports books within the country.

It’s understood that bids will only be accepted from companies that have a proven track record capable of delivering a complete solution within one package. The period during which bids will be accepted runs until May 16 of this year with top three to be made public on June 3. The winners will be announced three days later on June 6.

The large size of the Hungarian will be attractive to anyone entering the bidding for the license and those in Hungary will be swilling many a pint of beer when the legislation finally makes it through.

If you have any further information related to this story that you would like to share with us privately please click here.

Can't get enough CalvinAyre.com? Follow us on Twitter and Facebook, then you'll never miss out on the latest gaming industry news.

Share
Tags: Article, EU, Hungary
Views and opinions expressed are those of the Author and do not necessarily reflect those of CalvinAyre.com
  • http://calvinayre.com/2011/05/09/business/igaming-industry-may-form-guide/ iGaming business | Morgan Stanley May report

    [...] Hungary looks likely to end the state monopoly over online gambling and bring in a licensed regime f…. [...]

  • http://calvinayre.com/2011/06/03/business/hungarian-regulation-could-come-this-summer/ Business news | Hungarian regulation may come this year

    [...] Hungary could be the latest country to see widespread reform of the online gaming sector with the government hungry for tax revenues. The recently elected right-wing Fidesz party has set out plans to draw up a national gambling strategy to milk the udders of online gaming and the slot machine market. According to GamblingCompliance, the strategy will have a strong emphasis on tax revenues and the tightening of controls over the gambling industry as a whole. [...]

  • http://calvinayre.com/2011/09/14/legal/gibraltar-chief-heads-to-uk/ Legal News | Gibraltar’s Chief Minister Discusses Gambling with UK

    [...] have reported before that the country’s unregulated online gaming industry could be worth as much as 100billion forints per year. Regulation is likely to end the state [...]

  • http://calvinayre.com/2011/09/27/business/hungry-for-online-gambling-milk/ Hungary proposes online gambling bill | Business news

    [...] running dry. According to Portfolio.hu, the country will implement a taxation system on the online gaming industry for the first time with Antal Rogan unveiling the plans earlier this [...]