Netherlands imposes record €37 million fine on illegal gambling operator

The Dutch Gambling Authority (KSA) has issued a record €37.25 million fine against EOD Code SRL for operating twelve unlicensed online gambling websites in the Netherlands. The websites, which include Instantcasino and Skyhills, allowed Dutch residents to gamble despite previous orders from the regulator to cease operations.

Investigations revealed that the company failed to implement visible age verification measures and lacked mandatory spending limits. Furthermore, the operator accepted cryptocurrency and anonymous payment methods, which the KSA noted could facilitate money laundering and tax evasion. During inspections, authorities were able to successfully create accounts and place bets, including using Bitcoin.

The fine, the largest in the regulator's history, was calculated based on estimated turnover. While the KSA initially estimated the potential penalty could have reached nearly €293 million, the final amount was subject to legal limitations.