KSA Fines EOD Code SRL €37M for Unlicensed Online Gambling

Record Penalty for Unlicensed Operations

The Dutch Gambling Authority (KSA) has imposed a fine of EUR 37 million on EOD Code SRL, marking the largest penalty ever issued by the regulator for illegal gambling operations. The fine, equivalent to $44.4 million, significantly exceeds the previous record set by the KSA. EOD Code SRL is alleged to have provided online gambling services to players in the Netherlands without holding the required license. The company operated multiple websites, including Instantcasino and Skyhills. In its public statements, EOD Code claimed on its website to be registered and regulated in Costa Rica, a jurisdiction often cited by offshore operators targeting European markets.

Investigation Expanded to 11 Additional Sites

According to the KSA, the initial investigation focused specifically on the Instantcasino website. During the inquiry, authorities attempted to place bets on the company’s platforms and succeeded, confirming that the sites were actively accepting wagers from Dutch players. This operational confirmation allowed the scope of the investigation to expand to 11 other websites identified as being associated with EOD Code. The additional sites identified in the penalty decision include Skyhills.com, slotmonster.com, betiro.com, betblast.com, fastslots.com, goldenpanda.com, sambaslots.com, winningz.com, incognitocasino.com, foxygold.com, and luckypays.io. The KSA noted that EOD Code had previously received an order subject to penalty payments, a regulatory step taken when operators fail to comply with initial demands to cease illegal activities.

Operational Factors Increased Penalty Severity

The KSA cited specific operational practices as factors that increased the seriousness of the violations, justifying the record-breaking amount. Authorities pointed to the absence of visible age verification measures on the platforms, a critical gap in player protection standards. Additionally, the acceptance of cryptocurrency and anonymous payment methods was highlighted as a significant risk factor. The regulator stated that these payment options could encourage money laundering, further compounding the severity of the illegal operations. The penalty was calculated using estimated turnover rather than standard fixed fines. The KSA determined that standard fine structures were insufficient relative to the financial gains generated by the unlicensed operations. By using a turnover-based calculation, the regulator aimed to ensure the sanction was proportionate to the economic benefit derived from the illegal activity, thereby removing the financial incentive for continued non-compliance.

Context of Recent Enforcement Actions

This €37 million fine surpasses the previous record set by the Dutch Gambling Authority. In March 2026, the KSA imposed a fine of almost €24.8 million on Novatech, which operated the Qbet.com and 55bet.com websites. Prior to that, in 2024, the regulator fined Gammix almost €20 million. Gammix is associated with the Rantcasino.com and Betoriginal.com platforms. The sequence of penalties reflects a sustained regulatory focus on closing gaps in the Dutch online gambling market. By targeting operators that use offshore registrations to bypass local licensing requirements, the KSA aims to protect consumers and ensure that gambling activities within the jurisdiction comply with national laws regarding player protection and financial integrity. The escalating fines demonstrate the regulator’s commitment to enforcing the legal framework established for the Dutch iGaming market, signaling to both domestic and international operators that unlicensed access to Dutch players will face severe financial consequences.

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