Types of Online Casino in Hungary
Being fully present in the gambling-driven market, the people of Hungary can afford to use any type of casino present on the Internet, including downloadable and online-casino institutions.
If you plan to play a downloadable casino in Hungary, then for this you will need to download a special program onto your computer. However, there is no need to worry – it is very simple and not that time consuming. Initially, you will be offered to launch a small casino downloader, and then the main installer is loaded (its size depends on the manufacturer).
The advantages of the casino being downloaded include a solid gaming range (as a rule, browser-based casinos offer significantly fewer options), high-quality content, the ability to play for virtual rather than real money. Also, now you do not have to download the desired game every time. Besides, using your own game account is much more convenient. There are no disadvantages to the online casino being downloaded as such, unless it is periodically updated, but given the current volumes of hard drives, this is not a big problem at all in Hungary.
Non-downloadable casinos are made using Flash technology, and you can play directly in the browser. As a rule, good online-casino institutions offer both downloadable and non-downloadable options. To start the game you need to register your own account, and then go there, specifying the appropriate registration data.
The advantages of a non-downloadable casino in Hungary include no need to download anything. This option is best suited for those who play relatively rarely and do not see the point of constantly keeping the casino on their computer. Also, non-downloadable casinos is suitable for those who play from different devices and different gambling-driven sites. The disadvantages of a non-downloadable casino in Hungary should include a smaller range of games, low quality of special effects, as well as the need to wait for your game to load after entering the browser.
The first licensed online casino in Hungary – the portal Vegas – was opened only in February 2017. The owner of the site was the LVC Diamond company. The collection of slot machines included models of famous developers: Microgaming, iSoftBet, Play’n GO.
In April, the casino signed a cooperation agreement with Novomatic. Thanks to this, players in Hungary got access to the popular slots of Sizzling Hot, Book of Ra, Lucky Lady’s Charm and others.
In addition, users in Hungary can play roulette, video poker, blackjack, board games with live dealers.
The site has a good selection of payment systems. Credit cards and prepaid cards, bank transfers, popular European EPS (Skrill, Neteller) and others are available for conducting transactions in Hungary.
Types of Casino Games for Hungarian Gamblers
Why are most gamblers in Hungary so fond of online-casino institutions? Unlike standard poker rooms and real casinos, online resources in Hungary have a greater choice of good games, the ability to play simultaneously cards, slots, lotteries and even board games for money. What do online resources offer today, and what types of casino games will you like?
Naturally, visiting a virtual club in Hungary once, you will be surprised at the rich assortment of various gambling-driven activities, this allows all gamers in Hungary to pick up those games that most impress, amaze and surprise, which is important.
Virtual gaming establishments in Hungary will offer the most famous, relevant and popular games that will naturally delight you. For example, you can always play roulette, as this game has a simple principle of operation, you can choose also dice for yourself, since this game is considered one of the most ancient and popular, not losing its relevance and popularity until today in Hungary.
You can give preference to slot games, “one-armed bandits”, which are especially popular among gamers in Hungary. Remember that this is one of the most effective and reliable ways to make money.
Gaming establishments online are also famous for the fact that gamers can play these or other slots completely free of charge, testing them, gaining practice and experience, which cannot but inspire, please and amaze, so remember this. Here you can also easily choose for yourself the traditional and popular poker, with which you can earn good money.
Generally card games in Hungary are a great way to increase your budget. As it is known, the principle of this game is that you need to try to collect a profitable card combination, using five cards, and if you have experience and relevant knowledge, then of course you can do it without any problems.
If you still cannot decide whether to use virtual casinos in Hungary in order to earn money, then you should start playing for free, and if over time you begin to realize that you are ready for serious real money games, then you can try.
Online Gambling Laws and Regulations in Hungary
The process of legalization of gambling-driven activity in Hungary began in 1991. Then modern laws regulating the gambling-driven market in Hungary were passed:
Law No. 34 “On Gambling” is the main act, on the basis of which the regulation of gambling business takes place both in land-based establishments and on online resources;
Law No. 16 “On Concession” enshrines the exclusive right to provide gaming services for the state.
The first state-owned company Szerencsejáték became the first provider in Hungary. It received a monopoly on the provision of services in the field of gambling, initially it was responsible for managing the lotteries in Hungary. The control of the betting market for sports betting was provided by its subsidiary TippMix in Hungary.
In 2005, the Minister of Finance of Hungary signed Decree No. 32, the provisions of which define the rules for licensing gambling-driven activity and control over their observance in Hungary. The country still maintained a monopoly policy. Third-party companies – representatives of the gambling-driven activity business of other countries – did not have the opportunity to master the market of Hungary.
The situation began to change in Hungary in 2006, when the owners of Sportingbet.com resorted to the European Commission for support. Next year, Hungary received a warning about the need to open the market. Thus, the authorities in Hungary were forced to think about amending the legislation.
Subsequent changes to the law were made to:
- 2010. A 30% tax on poker winnings from land-based casinos were introduced;
- 2011. The market opened for foreign online providers;
- 2012. The licensing terms of foreign operators were determined, allowing them to operate in Hungary;
- 2013. The government gave the right to license 11 land-based casinos;
- 2015. Detailed rules of a responsible game were published.
However, the conditions for organizing casino activities in Hungary are quite tough. As a result, foreign providers in Hungary are not too eager to develop markets.
Responsibility for the regulation of the gambling-driven activity market is assigned to the Gambling Supervision Department that became part of the National Tax and Customs Administration of Hungary. The tasks of the department are:
- licensing of gambling-driven activity companies;
- control over the implementation of the activities of operators and compliance with the provisions of current legislation;
- maintenance of registers, accounting audit;
- identification of violations in the work of providers;
- conducting relevant investigations;
- the imposition of fines and sanctions;
- suppressing the activities of unlicensed companies.
The administration works in collaboration with the National Office of Public Relations and the National Consumer Protection Agency.
The issues of lawmaking in the gambling-driven industry are handled by the Ministry of National Economy in Hungary.
Online-casino activities in Hungary are also legal. The first games for Internet resources in Hungary were released in 1998 by Szerencsejáték. Since 2002, citizens of Hungary have been able to make bets on sports via SMS.
The final changes in force as of 2017 were made in July 2013. It was then that the state granted the right to organize online-casino institutions to foreign operators.
Gambling-driven activity resources are regulated by the Law on Gambling of 1991 and later amendments. The monopoly on the opening of online-casino institutions belongs to the state. To create a resource, you must obtain the appropriate concession in Hungary.
The company opening the portal must have a registered office in Hungary. The license for the organization of the activities of Internet resources is valid 5 years.
However, according to well-known operators, the opening of online-casino institutions in Hungary is associated with high costs. As a result, foreign providers did not seek to get licenses. Today, licensed Internet portals created by well-known operators are practically absent in Hungary.
Best Deposit Methods for Hungarian Gamblers
Online-casino institutions in Hungary have many differences, and one of them is the number of payment methods available to players. Some casinos offer only a couple of payment services, some – dozens, a couple of which are available only in certain countries, but most resources have one thing in common – they accept credit cards and payments through e-wallets. This is, without a doubt, the most popular and widespread payment methods among players in Hungary.
Credit and payment cards have been popular in Hungary since the online gaming industry began to flourish, and is still the most commonly used payment method. Over the past 10 years, such payment systems as Skrill, Neteller and PayPal have become extremely popular, so it is not surprising that they are presented in all casinos. The main advantages of these systems are safety and reliability. Since these are well-known brands, you can be sure that your money is safe. It is also very important for players that in 90% of cases payments with the help of cards and electronic wallets are instantaneous, that is, you can start playing your favorite games within seconds after you put money into your account in Hungary. This is especially beneficial for those who need to quickly deposit money to continue the game, in which a big win is expected.
One of the problems that you may encounter when using card payments in Hungary is that not all banks support the service of transferring funds to the card and rather strictly apply to the use of cards for online gambling. And therefore you should clarify this information. Otherwise, to use payment cards, you will have to provide a chosen casino with some documents. This move can be quite tedious, so if you change casinos frequently, then card payments may not be the best choice for you.
In this case, it is better to use payment systems that act as online wallets in Hungary (for this reason they are called electronic), allowing you to store money transferred from a credit card and make online purchases or any other financial transactions. It is very easy to open such an account, you will not need any special knowledge, and the whole procedure will take several minutes. Do not forget that when using most online payment systems in Hungary, a certain commission is charged when withdrawing funds. Nevertheless, it is low and does not greatly affect the amount of your payments.
Regardless of which payment method you choose, it is very important to make sure that transactions are secure, so choose only those casinos that use the latest data encryption technology in Hungary and ensure the security of your money and personal information.
Accepted Currencies in Hungary
After the entry of Hungary into the European Union, a rather significant period passed. However, Hungary has not yet fulfilled certain conditions for EU membership. In particular, Hungary has not changed its national currency for the euro. The Prime Minister of Hungary said that the country should weigh up what is best for the Hungarian economy: a quick and strong reduction in the budget deficit with all its social, economic and investment consequences, and then with the adoption of the euro. However, judging by the position of the government, Hungary is not in a hurry with its entry into the Eurozone, speaking about the preservation of the forint as a state monetary unit.
Hungarian forint is the main currency of Hungary. It was put into circulation after the end of the Second World War. Prior to this, the country used the pengö currency. In 1949, Hungary was overtaken by hyperinflation. It was then that the banknote of the largest denomination in the world was issued – 1 million trillion pengö. Inflation at this time reached such speeds that the prices of goods became twice as high every 15 hours. After that, a new currency in Hungary was introduced into circulation – the forint, which is still used today. In the 2000s, serious economic reforms were carried out in Hungary, which made it possible to strengthen the national currency.
The country uses a floating exchange rate of the Hungarian forint. Its indicators depend on a number of internal and external factors. Thanks to the orientation of the Hungarian economy on industry, the export of goods produced in Hungary, even during times of large-scale financial crises of the last decade, the forint managed to maintain relative stability.
This currency is not highly liquid in Hungary. Exchanging it in the bank at a favorable rate for dollars or euros is problematic. If you have such a need, it is advisable to make a preliminary application for exchange. Such conditions of cooperation are practiced by many banks operating in Hungary.
Many financial analysts of Hungary believe that the absence of the euro in circulation currently has significant advantages for the country. Based on the above-mentioned facts, some European financiers expressed the opinion that Hungary would introduce the euro in 2015. It should be borne in mind that with the introduction of the euro, a number of serious changes will take place in Hungary, and standards for which Hungary is not yet ready will be introduced into the economy.
Carrying out tax policy liberalization provides real assistance to the economy, and the government is trying to make effective use of this for strategic national decisions.
Nevertheless, taking into account the gambling business of Hungary, it is worth noting that both land and online casino bets are generally accepted in dollars. It is also possible to exchange currency for euros in Hungary. This allows the citizens of Hungary to take part in the game in any online casino not only in the country, but also in the whole world.
Predictions About the Future of Online Gambling in Hungary
It is rather difficult to predict how successful the development is in the gambling business in Hungary. Expert opinions differ on this subject.
On the one hand, many citizens of Hungary have a negative attitude towards the development of gambling. The corresponding policy of forming public opinion is carried out by a mass of information in Hungary. Thematic programs often address the issue of the negative impact of gambling-driven activity on the psychological health of the nation in Hungary.
In addition, market participants point out rather stringent licensing conditions and a high level of expenses for organizing activities.
However, there are positive factors too. Well-known operators are aggressively seeking to change the situation in Hungary. An example of this is the Vegas.hu casino mentioned above. Its owner not only managed to open an online portal, but also attracted famous partners to cooperation. Given that the site that was opened is one of the few that offers the Hungarian interface, one can predict its high popularity.
In addition, the authorities of Hungary once again received relevant recommendations on amending the current legislation from the European Union. As a result of Unibet’s complaint about discrimination and lack of transparency of the laws, the EU advised new amendments to the 1991 Gambling Law.
Once the government of Hungary listened to such recommendations, so operators hope for a favorable outcome of events this time.
And finally, one of the most anticipated events is the creation of the “Hungarian Las Vegas” – the largest gambling-driven center being built by an Austrian magnate on the border of Hungary and Slovakia. According to the preliminary estimate of the Ministry of Finance, Hungary will be able to receive about 2.5 million USD immediately after the project is opened. And this amount is an argument in favor of the development of gambling-related activity.
Thus, Hungary is a country with legalized gambling-driven activity business, but with strict conditions for its organization. However, given the changes in the market that have been observed over the past few months, it is possible to predict the further development of the industry in a more favorable and dynamic mode.