Sports betting is global phenomenon and is becoming increasingly popular with each passing year. It is a way that sports’ fan can show support for their team, and understanding of the sport itself. It is a favorite hobby among those who like to take risks and feel the adrenaline of uncertainty, with big rewards on the line.
Hungarians too enjoy this world-wide sporting related activity. Sports betting is freely available in Hungary. Before 2013, while one could still access sports betting platforms; sports betting was held under a government monopoly, with no other providers being able to offer this service. However, things have since changed! New gambling legislation means that outside bookmakers are allowed into the previously monopolized Hungarian market. This is good because it encourages competition between bookmakers and this means that at the end of the day, the punter will get a better service offered.
However, the licenses for foreign companies to provide betting platforms is incredibly expensive and proves to be a significant barrier to enter the market.
As a result, the sports betting market in Hungary is not hugely diverse and does not give its citizens a lot of choice. While there have been attempts to block these sites’, but only a handful of them have been placed on a blacklist. This means that while difficult, it is technically not illegal in Hungary to place sports bets online, using international platforms. This is a relief as online bookmakers are incredibly easy and convenient to use. For example, Coral betting is a provider of online sports betting and is known to be one of the best online bookmakers in the industry. This is for a variety of reasons; coral betting gives you free bets of 30 Pounds when you make a 10 Pound deposit. This means that you get a total of 40 Pounds to bet with; thus increasing your potential winnings should you bet correctly. Another reason why Coral sports is many punters’ go to online bookmaker is that they offer a live streaming service, free of charge. This is a really great feature for a bookmaker to provide, so you can have real time access to the races on which you bet. Coral can also be accessed through your mobile device, making placing bets incredibly easy and convenient.
Hungary is not the only European country who has tried to control the consumer by attempting to block international betting sites. However, this is usually not an effective means of preventing citizens from using their preferred online bookmaker. Hopefully the Hungarian government will soon realize this and decide to lower their exorbitant license fees for foreigners who will then be able to set up actual bookmaking businesses in Hungary. If this were the case, many more international companies would seek out a license and this would ultimately benefit everyone involved.
The Hungarian government would be able to tax these businesses and create additional government revenue.
And the Hungarian punters would be able to have larger access to more bookmakers.
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Source: Coral Free Bets