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Hungary Introduces iGaming Legislation to End State Monopoly
Hungary’s parliament has introduced online gaming legislation which opens the market to private online operators, bringing an end to the current state monopoly on sports betting.
Under the new proposals, operators within the European Economic Area will be free to launch online gaming offerings in the country with the permission of Hungary’s gaming regulator. There is so far no limit on the number of permits that can be issued.
Any operators who have offered igaming in Europe without a licence during the ten years before their application will be prohibited from operating in Hungary.
The legislation also allows the use of credit cards for online deposits, provided it is linked with an authorised payment service provider.
Any operator looking to obtain a licence must also have share capital of at least €2.8m. Licence fees will cost €1.7m, paid to the Hungarian State Treasury. Operators are also obliged to provide a minimum guarantee of HUF250m, while the tax rate for operators is yet to be determined.
Changes to the legislation are designed to ensure a higher standard of player protection. Recognising that a more competitive gaming market could encourage excessive gambling, the bill stipulates that a player protection plan be drawn up by the operator “in accordance with the principle of responsible gaming and the protection of players”.
Text within the legislation explains: “In a liberalised online betting market, several private companies are competing with each other, so there is a danger of encouraging excessive gambling instead of maximising the principle of responsible gaming.
“Therefore, the draft aims to liberalize remote gambling by emphasizing the protection of players and introducing guarantee regulatory elements that protect the interests of players.”
The bill is subject to a standstill period following its notification to the European Commission, which runs until 4 May.
The Court of Justice for the European Union (CJEU) ruled in 2017 that Hungary’s online gaming rules were unlawfully excluding European operators from the licencing process.
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Quantum continues expansion streak with two director-level new hires
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One of betting and gaming’s best-known customer acquisition and comparison businesses, Quantum, has announced the next steps in its ambitious growth plan by welcoming two new director-level appointees.
Joining the business are Dimitris Papamichael as commercial director and Luke Watkin as marketing director – both in newly created roles. They come in alongside a full C-suite and a full team of new tech hires that continues a recruitment drive which began in 2023 – and reflects Quantum’s rapid and consistent growth throughout the last five years.
Papamichael will be responsible for all revenue-generating activities across the business in a pivotal leadership role. He’ll shape Quantum’s commercial strategy as the company diversifies into new verticals while maintaining its strong position in the iGaming sector. He’ll also lead an expanding team of commercial and sales managers.
Watkin will lead the development and execution of the marketing strategy across all business verticals. As marketing director, he’ll be instrumental in shaping Quantum’s marketing vision, building scalable systems, and delivering commercial impact as it expands into new markets. Watkin will build and mentor a high-performing marketing team and is also tasked with driving further recruitment.
Speaking of the appointments and new strategic direction, CMO James McCarthy said: “It’s a pleasure to welcome Dimitris and Luke to Quantum during what is undoubtedly a really fascinating time in our growth. From cementing our relationship with some of iGaming’s biggest names to helping us expand into exciting new sectors, both of our new Directors will be integral to the continued success of the business.”
Papamichael said: “I’m thrilled to be joining Quantum at such an exciting stage of its incredible growth journey. The company has already achieved so much, and there’s huge potential ahead as we expand into new markets and sectors. I can’t wait to work with the exceptionally talented team here to seize the many opportunities ahead and drive the next phase of growth.”
Watkin said: “I am delighted to join a business with such a proven track record of excellence in its core markets, as well as highly ambitious plans for strategic expansion into new markets and territories. I am looking forward to contributing towards building on the exceptional progress the team has made to date, and accelerating that growth in the years ahead.”
This people news comes hot on the heels of the company’s exciting rebrand news of last week, moving toward the “quantum” in QiH Group” as well as redefining the business’ purpose and strategic direction.
The post Quantum continues expansion streak with two director-level new hires appeared first on European Gaming Industry News.
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FLY AWAY TO FORTUNE WITH ZITRO’S “RAINBOW BIRDS”
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The post FLY AWAY TO FORTUNE WITH ZITRO’S “RAINBOW BIRDS” appeared first on European Gaming Industry News.
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PHP13 MILLION UP FOR GRABS IN PAGCOR’S LINKED BINGO EVENT
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The post PHP13 MILLION UP FOR GRABS IN PAGCOR’S LINKED BINGO EVENT appeared first on European Gaming Industry News.
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