Netherlands gambling regulator hits operator with record fine
The Netherlands Gambling Authority (KSA) has imposed a record €37 million fine on EOD Code SRL for operating a network of unlicensed online gambling websites accessible to Dutch players.
The penalty, announced on October 22, is the largest financial sanction the regulator has issued against an illegal gambling operator.
Investigators identified more than a dozen websites connected to EOD Code, including Instantcasino, Skyhills, Slotmonster, Betiro, Betblast, Fastslots and Goldenpanda.
The investigation initially focused on Instantcasino before uncovering additional platforms operated by the company.
KSA inspectors were able to gamble on several websites from within the Netherlands, despite EOD Code holding no licence to offer online gambling in the country.
The regulator also identified several aggravating factors, including inadequate visible age-verification procedures and the availability of cryptocurrency and anonymous payment methods.
According to the KSA, these payment arrangements increase money laundering risks and make it more difficult to protect consumers.
EOD Code had previously received an order subject to periodic penalty payments for its illegal gambling activities.
The regulator calculated the latest fine using estimated revenue from Dutch players rather than its standard penalty structure, concluding that a substantially larger sanction was justified by the scale of the operation.
The Netherlands opened its regulated online gambling market in October 2021, requiring operators to obtain a licence before accepting Dutch customers.
The KSA said its efforts against illegal gambling extend beyond financial penalties to cooperation with payment providers, hosting companies, banks and major technology businesses.
The record fine represents a significant escalation in the regulator’s efforts to disrupt offshore gambling operations targeting Dutch players.
