Dutch regulator issues black market warning to Endorphina

According to KSA's investigation, Endorphina games were found on at least 28 separate unlicensed sites between January and September 2026. KSA had previously ruled that penalties be paid over some sites, including luckygem.com and qbet.com.

The regulator said the company had not taken sufficient measures so far, and that this conflicts with the Dutch gambling law. The two-week period ended on 2 November, and the investigation and the decision, which was called a "binding instruction", were made public on the same date. No fine or other sanction has been imposed for now. However, sanctions could follow if KSA decides that Endorphina has not taken appropriate steps to correct the situation.

The report said the investigation, carried out in three waves, showed that the games could be played on unlicensed sites until 30 September 2026.

Endorphina argued that because it is split into two separate legal entities, based in Malta and Cyprus, the regulator could not show which one provided the games. Malta-based Endorphina Malta serves the Dutch licensed market, and the company argued that the binding instruction and any possible sanctions should not apply to this unit. KSA rejected this objection. According to the regulator, the different legal entities are "irrelevant" for this instruction, and both units are in a position to take the necessary steps to prevent black market participation. The decision also sets a precedent for other providers that use several separate legal entities.