Netherlands Issues Record €37.25 Million Fine to EOD Code
Netherlands.- 27 October 2026 | www.zonadeazar.com The Netherlands Gambling Authority (Kansspelautoriteit, KSA) has imposed a record €37.25 million fine on EOD Code, the operator behind Instantcasino and eleven other online gambling websites.
It represents the largest financial penalty ever imposed by the Dutch regulator on an illegal gambling operator, following an investigation into the provision of unlicensed online betting and casino services.
The decision, reported on 26 October 2026, strengthens the regulator’s enforcement approach towards platforms allowing Dutch residents to gamble without holding the required local licence.
Investigation Began in 2024
The KSA’s investigations began in November 2024 and continued until July 2026.
During inspections, officials established that they could access several EOD Code websites and participate in gambling activities from the Netherlands.
According to the regulator, the company had failed to implement effective measures preventing Dutch residents from accessing its services.
The investigation initially focused on Instantcasino before identifying eleven additional websites associated with the same operator.
EOD Code had already received an order subject to penalty payments in July 2025 for offering gambling services without authorisation.
Twelve Gambling Websites Identified
The investigation covered twelve websites associated with EOD Code:
- Instantcasino
- Skyhills
- Slotmonster
- Betiro
- Betblast
- Fastslots
- Goldenpanda
- Sambaslots
- Winningz
- Incognitocasino
- Foxygold
- Luckypays
According to the KSA, these platforms allowed Dutch residents to participate in gambling activities despite lacking the authorisations required under national legislation.
The expanded investigation played an important role in establishing the scale of the company’s operations.
Age Verification Failures and Anonymous Payments
The regulator also identified several aggravating factors involving consumer protection and compliance controls.
The principal concerns included:
- The absence of visible age verification procedures.
- The availability of cryptocurrency payments.
- The use of anonymous payment methods.
- Insufficient restrictions preventing gambling participation from the Netherlands.
The KSA warned that these conditions increase risks associated with illegal gambling and may facilitate money laundering.
Insufficient age verification also raises concerns about potential access by underage users.
How the Record Fine Was Calculated
A significant element of the decision concerns the methodology used to determine the penalty.
The KSA concluded that EOD Code’s gambling revenue attributable to Dutch players exceeded the threshold used for a standard fine.
Consequently, the regulator applied an estimation method based on search volumes associated with the investigated websites.
The calculation produced the following figures:
- Estimated gross gaming revenue (GGR): €373 million during the preceding financial year.
- Percentage applied to calculate the penalty: 10%.
- Final fine: €37.25 million.
The figure represents a regulatory estimate of revenue linked to the investigated activities and should not be confused with independently audited global company turnover.
EOD Code Claims Registration in Costa Rica
EOD Code claims to be registered and regulated in Costa Rica.
However, such registration does not provide authorisation to offer gambling services to residents of the Netherlands.
The Dutch regulatory framework requires online gambling operators to hold a licence issued by the KSA and comply with national consumer protection requirements.
Registration or authorisation in another jurisdiction does not replace these obligations.
Previous Enforcement Measures
The financial penalty follows earlier enforcement action involving Instantcasino.
In 2025, the KSA ordered EOD Code to cease providing illegal gambling services in the Netherlands.
Failure to comply with that order could trigger weekly penalty payments of €280,000, up to a maximum of €840,000.
The new €37.25 million fine is a separate sanction based on the economic activity attributed to the operator.
Industry Impact and Next Steps
The decision establishes a significant precedent in the Netherlands’ efforts to combat unlicensed online gambling.
The size of the penalty demonstrates that the KSA can link financial sanctions to operators’ estimated revenue, particularly when standard penalties are considered insufficient.
For the iGaming industry, the case highlights the importance of implementing geographical access controls, verifying customers’ ages and ensuring payment methods comply with regulatory requirements.
The decision also reinforces the principle that international gambling operators must comply with the laws of every jurisdiction in which they offer services, regardless of where their businesses are registered.
Editó: @fonta
