Market Liberalization a 'Challenge' for Szerencsejáték

Analysis

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The liberalization of Hungary's online sports betting market from 2023 is a "challenge" but "not a danger" to state-owned lottery company Szerencsejátek, chairwoman-CEO Andrea Mager said in an interview with portfolio.hu.

Mager noted that sports betting accounts for over half of Szerencsejáték's revenue, with the rest split evenly between numbers games and scratch-off cards.

She said that online sports betting currently makes up 20% of turnover but added that the segment is "one of the fastest growing" on the market.

Mager said Szerencsejáték already faces "intense" competition from big, well-capitalized international players with "very serious" IT infrastructure who operate illegally in Hungary.

She added that Szerencsejáték's brand recognition and trust, along with its 800,000 registered online users, gives it an advantage over competitors that will now be doing business legally in the country.

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