State concession required for operators in Hungarian market

The Hungarian National Assembly has passed an amendment to its gaming law by a 235-69 vote.

Initiated by the Minister of National Economy Mihaly Varga, all online gambling and betting platforms targeting the Hungarian market require a five-year State concession.

The State Concession carries a prohibitive annual fee of HUF 100 million (GBP 290,632), a quarterly supervision fee of 2.5 percent with a minimum of HUF 100,000 and a maximum of HUF 50 million along with a fortnightly gambling tax of 20 percent on net revenue, reports the Budapest Times.

Following Belgium and Bulgaria’s cue, non-licenced operators offering services to the Hungarian market will be blacklisted and ISP blocked.

State lottery Szerencsejáték Zrt was given the right to participate in all three online activities – lottery, sports betting and casino.