The Netherlands Gambling Authority (KSA) has imposed a record fine of €37 million on EOD Code SRL for operating unlicensed online gambling services aimed at players in the Netherlands. This significant action, announced Thursday, comes after a comprehensive investigation uncovered that the company had been operating a network of more than ten gambling websites that were accessible to Dutch users.
EOD Code SRL managed several gambling platforms including Instantcasino, Skyhills, Slotmonster, Betiro, Betblast, Fastslots, Goldenpanda, Sambaslots, Winningz, Incognitocasino, Foxygold, and Luckypays. The KSA noted that these websites enabled Dutch residents to place bets without the operator possessing a valid Dutch license, constituting a violation of national gambling regulations.
Inspectors from the KSA confirmed that bets could indeed be placed from within the Netherlands via multiple sites in this network, contradicting regulations that mandate licensed operators to prevent access for Dutch users to unlicensed gambling services.
The authority also expressed concerns regarding several aggravating factors linked to these websites. Notably, many of the sites had inadequate age verification processes, which weakens efforts to curb underage gambling. This issue of underage gambling has been a long-standing concern for the KSA. Earlier this year, Meryam Sümer, a politician from the Christian Democratic Party, proposed raising the minimum legal age for online gambling from 18 to 24, citing a growing debt crisis among youth in the country. In Enschede, one in five young people is reported to be in debt, and Sümer attributes part of this problem to gambling advertisements tempting them.
She remarked, “The key is to reduce temptations,” calling for stricter regulations that would help protect young people from exposure to gambling that could lead to problematic behaviors and financial struggles.
Additionally, EOD Code SRL offered various payment options, including cryptocurrencies and other anonymous methods, which the KSA indicated heighten risks for money laundering and complicate consumer protection enforcement.
