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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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Bingo Paradise, a prominent UK iGaming affiliate, has announced its most successful quarter ever, achieving record growth during Q3 2024. The portal saw an unprecedented rise in first-time depositors (FTDs), a testament to its commitment to delivering value to players and operators in the highly competitive iGaming space.
“Q3 2024 has been a standout quarter for Bingo Paradise,” said Tom Waite, Manager of Bingo Paradise. “Our success is thanks to the hard work of our small team of talented writers and the oversight of our dedicated compliance manager. Together, they ensure that we provide honest, transparent reviews and operate within the highest industry standards. This, combined with our marketing efforts, including SEO and negotiating exciting player offers with operators, has been key to sending substantially more FTD’s to the operators.”
Bingo Paradise achieved a 65.24% year-over-year increase in FTDs compared to Q3 2023. This impressive growth underscores the affiliate’s focus on player-first strategies, such as creating honest, well-researched reviews that empower users to make informed decisions. The team’s compliance manager ensures every piece of content adheres to strict regulations, building trust with both players and operators.
A key factor in the platform’s success is its ability to negotiate exclusive offers with UKGC-licensed operators. These partnerships allow Bingo Paradise to provide unique deals that resonate strongly with players, enhancing its appeal as a go-to player resource. The focus on promoting only licensed operators also ensures fairness and security for users, which further solidifies the portals reputation.
The brands approach is a model of integrity and innovation. By prioritising compliance and transparency, Bingo Paradise, which itself is owned by Meteor Marketing Ltd has positioned itself as a trusted affiliate partner, both for operators seeking reliable collaborations and for players looking for guidance in the iGaming world. As the platform celebrates its Q3 2024 achievements, it remains committed to exploring new opportunities and maintaining its high standards.
Eagerly anticipated release now confirmed following a highly successful exclusivity period with Rush Street Interactive
Play’n GO has today announced the official US release of its hit title Colt Lightning Firestorm, following a three-week period of exclusivity with Rush Street Interactive brands BetRivers and SugarHouse.
Colt Lightning Firestorm was released in Europe and other jurisdictions in May 2024, and its release in the US comes with much fanfare following the game’s rave reviews in its short exclusivity period. The game is a sequel to the wildly popular Colt Lightning game which was released early last year, and indications at this stage suggest that this sequel may prove even more successful.
This announcement sees Colt Lightning Firestorm available to players in each state and operator with whom Play’n GO is licensed. Play’n GO first entered the online casino market in the US in 2022, and has reiterated its commitment to becoming active in every regulated market around the world.
Magnus Olsson, Chief Commercial Officer at Play’n GO said: “We’re excited to unveil Colt Lightning Firestorm to the wider online casino gaming community in the US, and have been very pleased to see its strong performance during its exclusivity period with Rush Street Interactive. We had high hopes for the game following the success of its predecessor, and we’re confident that these robust results will continue now that the game is available to an even bigger audience.”
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