Bet365 Withdraws from Hungary’s Online Gaming Market

As of November 20, the company ceased its operations in Hungary, a decision that is believed to be in response to new government regulations aimed at regulating online betting and gaming.

The Impact of Regulatory Changes

Bet365’s departure is attributed to new Hungarian government rules, which impose stringent requirements on foreign companies operating in the country. These rules include the necessity for a Hungarian license to operate, making it challenging for foreign entities to continue their services.

Operational Wind-Down

The company informed its Hungarian customers earlier in November about this decision. Bet365 has assured that all bets initiated on or before November 17 will be settled as usual. Customers have been given access to their accounts until December 4, which is also the deadline for initiating payments from these accounts. After this date, access to accounts and funds will require the company’s assistance.

No Detailed Explanation Provided

Bet365 has not offered a detailed explanation for its exit, simply stating in a message to users, “Following a review of our operations, we regret to inform you that we will suspend our services to residents of your country effective November 20, 2023.”

Our Comment on the Article

Bet365’s exit from Hungary underscores the significant impact of regulatory environments on the online gaming industry. This move reflects the challenges that international online gaming companies face in adapting to local regulatory frameworks.

For the Hungarian online gaming market, this could mean a reshaping of the landscape, with local players possibly gaining more prominence. Bet365’s decision also raises questions about the future strategies of other foreign operators in similar regulatory contexts​​.