Online gamblers in Hungary are rejoicing after the country announced that it will soon allow internet casino and sportsbetting services in addition to the horse betting and limited card games that are currently being offered.
Hungary will allow operators to get into the market, albeit at a steep price. In order to compete with the state's monopoly, operators will have to pay $450,000 for a five year license and pay a 20% Gross Gaming Revenue tax rate.
The current monopoly is controlled by betting firm Szerencsejáték Zrt who has announced that it will be getting online with GTechG2's Margin Maker software.
The amount of licenses awarded will be determined by the government, while unlicensed operators will be subject to fines and having their sites blocked by Hungary ISPs.