The Dutch Gambling Authority, Kansspelautoriteit, has imposed a record €37.25 million fine on Costa Rica-registered EOD Code SRL for offering unlicensed online casino games to players in the Netherlands through 12 websites.
The penalty, announced Oct. 22, surpassed the regulator’s previous record of about €25 million against Novatech. It was calculated from estimated turnover rather than the authority’s standard fine tables, after the Ksa concluded that ordinary penalties would not reflect EOD Code’s Dutch earnings.
The investigation began with Instantcasino. The Ksa subsequently linked Skyhills, Slotmonster, Betiro, Betblast, Fastslots, Goldenpanda, Sambaslots, Winningz, Incognitocasino, Foxy Gold and Luckypays to EOD Code, none of which held a Dutch licence.
Regulators said their staff could register and gamble on several of the sites because there were no measures to stop participation from the Netherlands. Several sites also had no visible age-verification checks and accepted cryptocurrency or other anonymous payment methods, which the authority said facilitate money laundering.
The fine decision, dated Oct. 6 and signed by Ksa chairman Michel Groothuizen, set out the calculation in greater detail. The authority estimated the 12 sites generated about €108.4 million in Dutch gross gaming revenue during 2025, using a search-volume method after EOD Code did not provide requested figures in May or respond to the proposed penalty in September.
Under the Ksa’s 2026 policy, the base sanction for estimated revenue of at least €800,000 was 100% of that revenue. Aggravating factors added 170 percentage points, producing a provisional penalty of about €292.6 million, or 270% of the estimated Dutch revenue.
That amount was then constrained by the Gambling Act’s cap of 10% of turnover in the prior financial year. The Ksa estimated EOD Code’s 2025 worldwide revenue at about €373 million, setting a maximum fine of roughly €37.3 million; it imposed a rounded-down €37.25 million penalty.
EOD Code had already been the subject of a July 2025 penalty order over Instantcasino. That order required payments of €280,000 a week, up to €840,000, if it continued serving Dutch customers. Checks in September 2025 found the site remained accessible, triggering the full amount; the company did not pay, and a collection decision became final in December.
The Ksa said it uses administrative fines alongside cooperation with payment providers, hosting companies, banks and major technology firms to disrupt illegal operators. The new fine was due within six weeks, and EOD Code had the same period to object, although an objection did not suspend payment.
