Hungary’s gaming monopoly growing reliant on sports betting

Hungary’s state-owned gambling monopoly is increasingly reliant on sports betting and online channels for the bulk of its revenue.

This week, local media reported that the Hungarian government-controlled Szerencsejáték Zrt betting monopoly reported that its full-year 2017 sales are expected to come in around HUF462b (US$1.83b), roughly 10% higher than 2016’s revenue mark.

Sports betting’s share of overall Szerencsejáték sales increased one percentage point to 45% last year, thanks in part to the growing popularity of live betting via the operator’s new Tippmix Radar mobile app.

Szerencsejáték intends to capitalize on live betting’s appeal by adding over 50 new betting markets, in particular on the upcoming 2018 Winter Olympics in Seoul. This year will also see live betting become available 24 hours a day for the first time.