The Netherlands Gambling Authority (Ksa) has fined EOD Code SRL €37 million, the biggest penalty it has ever imposed for illegal gambling. The regulator announced the decision on 22 October.
According to the Ksa, the company ran twelve online casino brands that targeted Dutch players without holding a licence. The investigation began with the Instantcasino site and widened to take in eleven more, including Skyhills, Slotmonster, Betiro, Betblast, Fastslots, Golden Panda and Samba Slots. The regulator also pointed out that EOD Code told visitors it was registered and regulated in Costa Rica, an authorisation that carries no weight in the Netherlands.
The fine overtakes the previous record of almost €24.8 million, which the Ksa handed to Novatech in March this year over the Qbet.com and 55bet.com sites. In other words, the enforcement ceiling has been raised twice in a matter of months, and by a wide margin the second time.
The Netherlands opened its regulated online market in October 2021, and keeping unlicensed offshore brands away from Dutch players has been one of the regulator’s main jobs ever since. Licensed operators have a direct interest in that work, since they pay the country’s gaming tax, which has risen from 34.2% of gross gaming revenue in January 2025 to 37.8% this year, while grey-market brands do not.
For offshore operators that still take Dutch customers, the message from the regulator is hard to miss. A foreign licence, or a claim of one, offers no protection, and the cost of getting caught is climbing fast.
