Dutch regulator KSA fines EOD Code SRL record €37M for unlicensed online gambling

The Dutch Gambling Authority (KSA) has fined EOD Code SRL a record €37 million ($44.4 million) for allegedly offering online gambling to players in the Netherlands without a licence. The regulator said it is the largest penalty it has ever issued for illegal gambling operations.

According to the KSA, the company ran several websites, including Instantcasino and Skyhills, and did not put adequate measures in place to block Dutch residents from accessing them. EOD Code had already received an order subject to penalty payments over its activities. In a follow-up investigation, KSA staff tried to gamble on the sites and succeeded, indicating that Dutch players could still use the services.

The probe began with Instantcasino and was widened to cover 11 further websites named by the regulator. These were 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 cited several aggravating factors. It pointed to the lack of visible age verification and to the acceptance of cryptocurrency and anonymous payment methods, which the authority said could encourage money laundering. It also noted that EOD Code claimed on its website to be registered and regulated in Costa Rica.

The size of the fine reflects the regulator's method of using estimated turnover where standard penalties are judged too low relative to the financial gain from the violations. The KSA concluded that EOD Code had earned more from bets placed by Dutch players than a standard fine would reflect.

The penalty exceeds the previous record of almost €24.8 million, imposed in March 2026 on Novatech, which operated Qbet.com and 55bet.com. Another large case involved Gammix, the operator linked to Rantcasino.com and Betoriginal.com, which was fined almost €20 million in 2024.

The decision adds to the regulator's efforts against operators that target Dutch players without authorisation, and shows a focus not only on the absence of a licence but also on safeguards around age verification and payment methods.