Business

Hungary's gambling watchdog was reported to have taken legal action against British online betting giant Sportingbet for violating Hungary's gambling laws, which stipulate that betting is a state monopoly. Sportingbet, which generates about £1 billion worth of online bets worldwide, launched a Hungarian website in June and was quickly luring players away from state-owned monopoly holder Szerencsejáték Rt, unnamed sources said. The Gambling Supervision also levied a Ft 500,000 fine on Provimar Kft, the company that acted as media buyer on behalf of Sportingbet, Provimar Managing Director Gábor Vida said. In response to the latter's appeal to the EU's Internal Market Directorate, the latter will investigate Hungarian betting laws without delay, according to Jean Bergevin, a senior executive of the bureau. (Vg 1) P.P.

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