Record 37 million euro fine from the Netherlands: a heavy blow to illegal betting

The Dutch gambling regulator Kansspelautoriteit (KSA) has fined EOD Code SRL 37 million euros. The regulator determined that the company offered online gambling services to players in the Netherlands without a license. This is the highest financial penalty KSA has ever imposed for illegal activity.

The investigation began with the Instantcasino site. As the inquiry widened, it emerged that sites operating under the names Skyhills, Slotmonster, Betiro, Betblast, Fastslots, GoldenPanda, SambaSlots, Winningz, IncognitoCasino, FoxyGold and LuckyPays were also linked to the same company. KSA staff were able to play games on these sites by connecting from the Netherlands. The measures the company should have taken to block access from the Netherlands were also found to be insufficient.

The regulator also noted that age verification was not clearly visible on some sites and that cryptocurrencies and anonymous payment methods could be used. According to the regulator, these methods make money laundering easier. It considered that standard penalties would be disproportionate to the revenue the company earned from its illegal activity. For this reason, the fine was calculated on the basis of an estimate of revenue.

KSA also stressed that the fight against illegal gambling is not limited to administrative fines. It stated that it works closely with payment service providers, hosting companies, banks and large technology companies.