A short summary: A Hungarian Sighthound is already known in the 8th century. It was not alone a privilege of nobility to hunt with dogs but also the common man and the nomadic Hungarians appreciated the help of a hound.
We need to know some European history here. The early original native country of the Magyars (Hungarians) was on the foot hills of the Ural.
Tribes migrated to the South and the West and settled eventually around Magna Hungarica. This migration lead them through savannahs and "half" deserts. Although the Magyars being masters of bow and arrow they needed a tough Sighthound to catch the faster game. Hares and deer. Political connections with Persia, Turkey and the Caucasus lead to some influence of "oriental" blood in their hounds. According to skeletons found in graves one thinks the hounds were somewhat smaller than what they are now. In the 19th century Greyhounds were used to revive the breed and give some extra speed.

The Magyar Agar is a fast and enthusiastic Sighthound with lots of endurance. He resembles the early track Greyhound.

The above information was contributed by

Daniela and Henk van der Lichte
Hadi el Basher Salukis and Azawakhs

This is from a mail I got from Hungary
Hungarian hound is a little look like a Grey Hound (same tall), but...

Hungarian hound is slower runner for longer distance. It has stronger body, I mean bones and muscles. there is a several small different: ears, tail . . .

Hungarian hound hate cold like greyhound, but you can also use for alert around the house. It is easy to teach and it likes to learn.

The standard was written down for 40 or 50 years ago.