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EOD Code fine hits record €37m for 12 illegal Dutch casino sites
The Dutch Gambling Authority (KSA) announced on 22 October 2026 that it had fined EOD Code SRL €37 million after uncovering a network of twelve unlicensed casino brands that accepted Dutch players. The penalty is the highest the regulator has imposed for an illegal offering to date and was calculated on an estimate of the operator’s Dutch turnover rather than the standard fine tables.
How the case unfolded
The investigation began with a single brand, Instantcasino. KSA staff opened accounts and played on the site, finding no measures to block Dutch residents. As the probe deepened, eleven more sites—Skyhills, Slotmonster, Betiro, Fastslots, Goldenpanda and Winningz—were linked to the same operator. None of the brands held a Dutch licence.
KSA highlighted several aggravating factors. The sites offered no visible age checks, and they accepted cryptocurrency and other anonymous payment methods, which the regulator said facilitate money laundering. EOD Code had already received a penalty order for the same activity before the fine was issued.
Why a turnover-based fine?
Under normal circumstances, the KSA applies fixed base amounts to infractions. In this case, the regulator concluded that those amounts would be disproportionate to the revenue earned from Dutch players. Consequently, it exercised its power to set a fine linked to estimated turnover. The KSA noted that the €37 million penalty is the highest it has ever imposed for an illegal offering.
The move follows a €25 million fine against Novatech earlier in 2026, which had been a record at the time. For offshore operators targeting the Dutch market, the message is clear: penalties can now scale with estimated revenue rather than stop at a fixed amount.
Impact on the Dutch market
The Netherlands legalized online gambling in October 2021, but the regulated market still competes hard with unlicensed sites. The KSA estimated last year that more money is spent with illegal operators than with licensed ones, a finding first reported as illegal gambling outweighing the legal market.
In August, DutchNews reported that illegal operators were reaching people registered with Cruks, the national self-exclusion register, through Facebook and Instagram ads. In June, the Dutch cabinet proposed a ban on online gambling advertising and bonuses.
Alongside fines, the KSA says it works closely with payment service providers, hosting firms, banks and large technology companies to cut off illegal operators. The full decision and its current status are published by the Kansspelautoriteit.
What this means for players and operators
Players who used the twelve sites risked exposure to unregulated gaming environments. The lack of age verification and the use of anonymous payments increase the likelihood of fraud and money-laundering risks. Operators that rely on crypto or other anonymous methods may find themselves under greater scrutiny as regulators tighten enforcement.
For licensed operators, the fine demonstrates that the KSA is willing to impose significant penalties when operators fail to comply with Dutch licensing requirements. The turnover-based approach raises the stakes for any operator that targets Dutch players without a licence.
Where to look next
The KSA’s decision signals a broader push to clamp down on illegal gambling in the Netherlands. Players should verify that any casino they use holds a valid Dutch licence and that the operator follows proper KYC and age-verification procedures. Operators should review their compliance frameworks to avoid similar penalties.
The case also underscores the importance of monitoring regulatory developments in jurisdictions where online gambling is legal. As the KSA continues to refine its enforcement tools, operators that previously relied on loopholes may find those avenues narrowing.
Related developments
- The KSA’s €25 million fine against Novatech earlier this year set a new benchmark for illegal gambling penalties.
- Dutch cabinet proposals to ban online gambling advertising and bonuses may further restrict the market.
- The KSA’s collaboration with payment providers and technology firms aims to cut off illegal operators at the source.
Final note
EOD Code’s €37 million fine illustrates the escalating costs of operating outside the regulated Dutch market. Operators targeting Dutch players must now weigh the potential revenue against the risk of a turnover-based penalty that can exceed the value of the licence itself.
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