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Public transport in Budapest is really good. A single ticket is about €1,10 and it seems like conductors don't check the stamps , so it might be possible to use them for a few days without getting caught. Buses and trams are less risky, but don't mess with the underground, there are inspectors posted at the entrance and exits to the platforms during all operational hours who will demand to see your ticket.
After you buy your ticket, you have to validate it. There are red machines on buses and trams that punch a hole in a different place on your ticket each day, which is how they determine if you validated your ticket that day (or at least not the day before...) I haven't had a ticket checked on a bus or tram yet, but if you want to be safe, hang around the machine and if you see an inspector coming, punch your ticket immediately. Inspectors are easy to spot, they're wearing uniforms and have badges hanging around their necks.
The old "I didn't know I had to validate the ticket" thing will not work with an inspector. The Hungarian transportation system is going bankrupt and they need those fines, so if you get caught without a valid ticket, you have to pay about €24.
