Record Fine Imposed on Costa Rican Operator
The Kansspelautoriteit (Ksa), the Dutch gambling regulator, announced on 22 October 2026 that it has fined EOD Code SRL €37 million. The penalty relates to the operation of twelve unlicensed online casino brands that targeted players in the Netherlands without holding a valid license.
This amount represents the largest penalty the Ksa has imposed for illegal gambling offerings to date. EOD Code SRL is registered in Costa Rica. The regulator stated that the fine was calculated based on an estimate of the company’s turnover from Dutch players rather than the standard fixed amounts typically used in fine tables. The Ksa concluded that applying standard base amounts would be out of proportion to the earnings generated by the operator from the Dutch market.
“Deze boete voor EOD Code is de hoogste boete die de Ksa tot nu toe voor illegaal aanbod heeft opgelegd,” the Ksa said.
Investigation Links Twelve Sites to One Operator
The investigation into the operator initially focused on a single brand named Instantcasino. During the course of the inquiry, Ksa investigators linked eleven additional sites to the same parent company. These linked platforms include Skyhills, Slotmonster, Betiro, Fastslots, Goldenpanda, and Winningz. None of the twelve sites held a Dutch license.
Ksa staff were able to sign up and play on several of the sites, confirming that the platforms had no technical or procedural measures in place to exclude players based in the Netherlands. The regulator identified several aggravating factors that contributed to the severity of the fine. These included the absence of visible age verification checks and the availability of cryptocurrency and other anonymous payment options.
The Ksa noted that anonymous payment methods facilitate money laundering. EOD Code had previously been served with an order subject to penalty payments for the same illegal offering. The operator continued its activities despite this prior enforcement action, a history of non-compliance that the regulator cited in its final decision.
Enforcement in a Post-Legalisation Market
The Netherlands legalised online gambling in October 2021. Since that date, the Ksa has worked to enforce licensing requirements across the market. In an earlier enforcement action in 2026, the regulator imposed a €25 million fine against Novatech, which had previously held the record for the highest illegal gambling penalty.
The Ksa estimated last year that more money is currently spent with illegal operators than with licensed ones in the Netherlands. Reports by BNR in August indicated that illegal operators were reaching individuals registered with Cruks, the national self-exclusion register, through Facebook and Instagram advertisements. This suggests that unlicensed brands are actively targeting users who have formally requested to be excluded from gambling access.
In June, the Dutch cabinet proposed a ban on online gambling advertising and bonuses. The Ksa continues to collaborate with payment service providers, hosting firms, banks, and large technology companies to cut off illegal operators from accessing the Dutch market. The record fine against EOD Code is part of these ongoing efforts to enforce the legal framework established in 2021.
Why It Matters
This record fine signals a shift in how Dutch regulators calculate penalties for unlicensed operators, moving from fixed amounts to turnover-based estimates. For licensed operators, it reinforces the competitive landscape by targeting illegal revenue streams that the Ksa estimates now exceed legal ones. The inclusion of anonymous payment methods and prior non-compliance as aggravating factors sets a precedent for future enforcement actions against offshore entities.
David Farbacu is a seasoned writer with a passion for games, gaming, casinos, and Xbox. With a wealth of experience in the industry, David brings insightful reviews, comprehensive guides, and engaging articles that cater to both casual gamers and hardcore enthusiasts. His expertise spans across various gaming platforms and genres, making him a go-to source for the latest trends and developments in the gaming world.
