Most Popular Bookies in Hungary

Recently sports betting has taken the Hungarian gambling market by storm. This can be attributed to many bookmakers offering Hungarian players a broad array of betting markets and popular sports. Most beginners don't know where to start with sports betting and eSports.

That is where experts come in to help bettors pick the best betting sites in Hungary. Top sportsbooks organize bets for the most-played sports in the world, from football, rugby, and MMA fights, to basketball, among others. eSports lovers will find everything they need, such as CS: GO, Dota 2, LoL, and CoD. Some eSports are offered for free, and the best sites have the most reliable information on wagering.

Most Popular Bookies in Hungary
Local Bookmakers vs Online Betting Sites in Hungary

Local Bookmakers vs Online Betting Sites in Hungary

There are no tight regulations in the Hungarian gambling industry. However, the current law retains betting as a state monopoly. Independent operators pay high taxes, which discourages the creation of more gambling sites.

However, taxation doesn't have much impact on the latest sports betting trend in Hungary. Many local punters try their luck in foreign websites despite the government's attempt to block outside companies.

Local Bookmakers vs Online Betting Sites in Hungary
Hungarian players' favorite sports to bet on

Hungarian players' favorite sports to bet on

Sports betting in Hungary dates back almost two centuries. Horse racing is one of the highly esteemed games in the country. As a result, Hungarians still bet on horse races occasionally.

Hungarian players tend to focus more on local and international sports events while searching for the best online bookies. Football is one of the games that attract significant viewership and betting action. The most followed domestic competition is the National Championship.

In the international sports scene, Hungarians are fond of the FIFA World Cup, UEFA National League, Champions League, and the European Championship. Gambling buffs from Hungary love betting on FIBA International Cup, NBA, and the Hungarian National League when it comes to basketball.

Ice hockey is a potential betting option among Hungarian bettors. The betting action goes into a frenzy whenever the men's national team participates in competitions such as the IIHF European Championships, IIHF World Hockey Championships, and the Olympic Games. Another attention-grabbing sport is handball for both men and women.

Both teams have been involved in dozens of tournaments within the country. Avid gamblers also follow global championships such as the IHF Super Globe, World Women's Handball Championship, and EHF European League. As far as eSports go, Hungarian players are pretty active in League of Legends, CS: GO, and Dota 2.

Hungarian players' favorite sports to bet on
What are the best payment methods in Hungary?

What are the best payment methods in Hungary?

Hungarian betting sites accept various payment methods. But those players who prefer direct bank transfers should note that some financial institutions do not process gambling-related payments.

Most local punters avoid banks, credit, and debit cards. Some Hungarians still use Visa, MasterCard, and Maestro cards to add money to their bankroll despite the legislative restrictions. Some better alternatives are as follows:

  • E-wallets: Skrill, PayPal, MuchBetter, and Neteller, Barion, SimplePay
  • Prepaid credit or voucher cards: ecoPayz and PaySafeCard
  • Cryptocurrencies: Bitcoin, Bitcoin Cash, Ether, Litecoin, Dogecoin, and Ripple

A prepaid voucher or credit card is one of the easiest to use on a betting site. But it is good to check whether the site accepts it. Prepaid vouchers facilitate instant deposits but are hardly accepted as withdrawal methods.

Many e-wallets are globally accepted, allowing users to deposit and withdraw funds at online gambling platforms without limitations. Hungarian players usually hold their e-wallet balance in euros to avoid conversion fees and because it is one of the widely accepted currencies for wagering. But a good number of platforms take HUF as well.

Digital currencies such as BTC make it easier for sportsbook lovers to access a multitude of bets in foreign markets. Since bank deposits can raise suspicion from authorities, most gamblers prefer anonymous digital coins instead.

What's more, crypto betting sites are backed by blockchain technology that ensures the safety and fairness of games. Any transaction registered on the blockchain is encrypted. This enhances the credibility of a betting operator and reduces any chance of foul gameplay.

What are the best payment methods in Hungary?
History of betting in Hungary

History of betting in Hungary

Hungary was under strict governance during the Cold War era, and betting was outright banned by the USSR. But the censorship did not prevent illegal gambling. Following the end of communism and Soviet rule in 1991, the gambling scene opened up so the locals could freely engage in sports betting. Hungary was among the first EU nations to pass gambling legislation.

However, the operators were owned by the government, and most of the activities were under pari-mutuel betting. Even the leading international betting sites were forced to partner with the state-run Szerencsejáték Zrt (SzZt) as the primary provider of online and SMS bets.

In 1998, SzZt introduced online betting sites, which are still the only legal gambling platforms in Hungary. When Hungary signed to be part of the EU in 2004, the UK-based Sportingbet launched a site in the Hungarian language to attract players from Hungary.

It should be noted that Sportingbet was permitted by EU law to provide gambling services throughout EU countries. Nevertheless, Hungary's gambling watchdog sued them, and they were fined Ft500,000.

The state monopoly continued until the government changed the gambling laws in 2013 after being pressured by the EU. The new legislation aimed to tackle the growing trend in online gaming. It allowed private companies to acquire licenses and offer betting services to Hungarian punters. However, operators had to pay high taxes and a high entry fee; hence SzZt continued to dominate.

History of betting in Hungary
Betting nowadays in Hungary

Betting nowadays in Hungary

As the popularity of online gambling spread across the globe, it was hard for Hungary to block sports betting sites. The authorities forced financial institutions to shut out transactions that could be traced to gambling sites.

But EU's criticism towards these actions brought a new dawn for Hungarian players in 2013. Betting companies from other countries were allowed to tap into the gambling market of Hungary. The Hungarian Parliament agreed to issue ten new gambling licenses in this regard.

Currently, no betting company has applied for a Hungarian betting license since the initial investment is too costly. Nevertheless, those that offer their services to Hungarian punters are licensed by other jurisdictions.

There are no laws that prevent wagering on foreign sites. After Sportingbet penetrated the market, other companies such as Betclic and Bet-at-home followed a year later. Since then, more and more international sportsbooks have found their way to Hungary.

Currently, sports bettors from Hungary do not pay income tax on their winnings, whether playing in local or international bookies. Most of these platforms accept deposits in euros, but a good number take the Hungarian Forint, then make a currency exchange.

Despite the restrictions by Hungarian banks, many Hungarian gamblers use e-wallets, cryptocurrencies, Visa, MasterCard, and other convenient payment options to fund their betting accounts.

Betting nowadays in Hungary
Future of betting in Hungary

Future of betting in Hungary

Despite the legal changes made in 2013 to increase the list of games available on the internet, the state monopoly seems as though it is there to stay. Future changes might happen if the EU intervenes again.

Otherwise, the legal framework of gambling in Hungary could take a while before independent gambling operators can enter the industry in full swing. It is worth noting that some European countries have tried to halt efforts by foreign betting websites but to no avail. Such actions usually result in a grey or black market, such as what's already happening in Hungary.

If only the government could reduce the entry fees and taxes imposed on sports betting, they would open up new growth opportunities. This would translate to a considerable increase in revenue from a free gambling market. There's a vast market influenced mainly by Hungarian football betting. With a growing fan base for sports and eSports betting, legislators might amend gambling laws to accommodate a bigger audience.

Future of betting in Hungary
How can you tell if a Hungarian sports betting site is legitimate?

How can you tell if a Hungarian sports betting site is legitimate?

Before 2013, Hungarian gamblers could only visit brick-and-mortar betting houses because online sites were very few. Some land-based betting venues have been around for decades and are associated with most online sites. Many overseas betting sites avoid Hungary because of the high taxation rate.

Nevertheless, there are numerous options for sports bettors who want to try their luck at foreign websites. While betting is legal in Hungary, violating gambling laws can lead to serious legal consequences.

How can you tell if a Hungarian sports betting site is legitimate?
Betting acts in Hungary

Betting acts in Hungary

The 1991 Gambling Act no. 34 was the first betting law to be executed in Hungary. It applies to both online and offline gambling. The act defines games of chance, the criteria for betting operations, and the regulatory measures by the government on gambling operators. Decree no. 32 of 2005 covers provisions for the authorization, taxation, and marketing of specific games.

On the other hand, the specifics on responsible conduct of betting are stipulated by decree no.329 of 2015. Responsible conduct pertains to commercial advertisements, whereby betting providers must notify their audiences of the risks of problem gambling.

The Hungarian government ushered in a new licensing system for gambling activities. But international betting organizations challenged the new administration in the national courts of law and the CJEU (Court of Justice of the European Union). The CJEU spotted some unrealistic parts of the Hungarian gambling regulations on online gambling, which were against the EU jurisdiction. Such elements were considered impractical.

Another critical rule is the Act on National Asset (no. 196/2011). It depicts the economic importance of gambling activities to the state. The law also recognizes Szerencsejáték Zrt as the sole state operator. Moreover, the Concession Act no. 16/1991 provides relevant guidelines on concession contracts that betting operators may get into.

As of November 2013, the tax payable by gambling operators was minimized. The new system was created to mitigate money laundering and other criminal activities. The altered gambling law ordered the type of machine and tables that casinos should use. Casinos are also required to record activities on video.

Betting acts in Hungary
FAQs

FAQs

Do players pay taxes on their winnings if they play at Hungarian betting sites?

Whether they play at local betting sites or international platforms, Hungarian players do not pay taxes on their winnings. Taxation is usually imposed on the provider's side.

Which sports do Hungarians love to bet on?

Football has an enormous fanbase in the country, and it's no surprise that it's a prominent option for sports betting. Tennis, ice hockey, car racing, water sports, rugby, and basketball attract many spectators and bettors alike.

What currencies do Hungarian betting sites accept?

Bookmakers in Hungary take the HUF. Others accept US dollars, euros, and Czech Koruna.

What eSports are on the best betting sites for Hungarian players?

eSports lovers have a wide variety to choose from. They can play first-person shooter games such as CS: GO, MOBA games such as League of Legends, player vs. player like Mortal Kombat, and real-time strategy, e.g., Warcraft.

What languages do betting sites for Hungary players support?

The most common option is the Hungarian language and Magyar in online bookies for Hungarian bettors. But many sites have incorporated English, France, Italian, Spanish, Romanian, and Polish to accommodate gamblers from other countries.

FAQs