The Netherlands Gambling Authority (Ksa) is imposing a record €37 million fine on EOD Code SRL for operating illegal games of chance within the country without the requisite license. The unlicensed operator offered gambling services across a broad network of websites, notably including Instantcasino and Skyhills, following an earlier penalty payment order issued by the regulator.
Ksa inspectors successfully accessed and participated in games on several of the company’s platforms without encountering any geographical restrictions or protective measures preventing participation from the Netherlands. While initial inquiries concentrated on Instantcasino, expanding investigations revealed a wider portfolio of illicit gaming domains, comprising skyhills.com, slotmonster.com, betiro.com, betblast.com, fastslots.com, goldenpanda.com, sambaslots.com, winningz.com, incognitocasino.com, foxygold.com, and luckypays.io.
Aggravating factors and money laundering risks
The regulatory investigation identified multiple aggravating circumstances across the various websites, most notably the total absence of visible age verification procedures. Furthermore, visitors were permitted to transact using cryptocurrencies and anonymous payment methods, creating systemic vulnerabilities that facilitate money laundering activities.
When issuing administrative penalties, the Ksa maintains the authority to pursue revenue-related calculations if standard fines prove disproportionate to the illicit revenue amassed. Because estimates indicated that EOD Code accumulated extensive earnings derived directly from wagers placed by Dutch players, the regulator opted for a higher fine structured around estimated turnover. Consequently, this penalty stands as the largest fine the Ksa has imposed for unauthorized gambling offerings to date.
Comprehensive regulatory crackdowns
The Ksa emphasized that combating illegal market offerings extends well beyond administrative fines, relying heavily on close collaboration with third-party stakeholders, including payment service providers, hosting companies, financial institutions, and major technology corporations.
