The Dutch Gambling Authority, known as KSA, has issued a staggering €37 million fine, marking the largest penalty it has ever imposed. This fine targeted EOD Code SRL for running unlicensed gambling operations that were accessible to Dutch players. An investigation by the KSA uncovered that the company had been operating a network of about twelve gaming websites, including well-known platforms such as Instantcasino, Skyhills, Slotmonster, Betiro, Betblast, Fastslots, Goldenpanda, Sambaslots, Winningz, Incognitocasino, Foxygold, and Luckypays.
A key finding from the inquiry revealed that these sites allowed Dutch citizens to place wagers without the necessary Dutch licensing, thereby breaching national gambling laws. KSA inspectors confirmed that betting was facilitated from within the Netherlands, with multiple sites providing access to users in the country.
Additionally, the KSA identified multiple violations concerning the age verification processes implemented by these operators. Many of the websites failed to effectively prevent underage gambling, raising significant concerns.
The investigation also highlighted the use of unauthorized payment methods, such as cryptocurrencies, which the KSA warned could pose heightened anti-money laundering (AML) risks. Under Dutch gambling regulations, the KSA has the authority to impose financial penalties based on an operator's revenue, taking into consideration the scope of its illegal activities.
In this particular case, the KSA determined that the unlawful operations of EOD Code generated substantial revenue from Dutch players, leading to the decision to impose a revenue-based penalty. The fine of €37 million stands as the highest ever imposed by the KSA for activities related to unlicensed gambling.
