Dutch regulator hits EOD Code SRL with record 37 million euro fine for illegal gambling
Sized on an estimate of what the company earned from Dutch players, the fine is the highest the KSA has imposed for illegal gambling. It was decided on 6 October 2026 and announced on 22 October.
A fine sized on revenue
The Kansspelautoriteit (KSA) has fined EOD Code SRL 37 million euros for offering gambling in the Netherlands without a licence, the heaviest penalty it has yet imposed for illegal supply. The decision is dated 6 October and was made public on 22 October. What KSA inspectors found on the company's sites was first set out in Dutch by onlinegokkenzondercruks.org.
The method behind the amount explains its size. The KSA normally works from standard fines for illegal offering, but it may switch to a revenue-related figure when those amounts are out of all proportion to what the illegal business earned. It did so here, estimating that EOD Code made more from Dutch players' stakes than the standard tables would capture.
From Instantcasino to twelve sites
The investigation began with Instantcasino and widened as the regulator found eleven more websites where people could gamble illegally: skyhills.com, slotmonster.com, betiro.com, betblast.com, fastslots.com, goldenpanda.com, sambaslots.com, winningz.com, incognitocasino.com, foxygold.com and luckypays.io.
KSA employees were able to play on several of the sites, which had taken no steps to keep out players from the Netherlands. The regulator weighed two aggravating factors: there was no visible age check, and visitors could pay with cryptocurrency and by anonymous means, which in the KSA's words encourages money laundering.
Final orders, open fine
EOD Code had already been served a penalty order on 26 August 2025. It lodged no objection, so the order is final, as is the KSA's decision of 11 December to publish that it had collected the accrued penalty sums. The new fine, by contrast, can still be challenged by objection.
Fines are one tool among several. The KSA says it also tackles illegal supply in close cooperation with third parties such as banks, hosting companies, large technology firms and the providers that process transactions for gambling sites. Brands without a Dutch licence are tracked under casinos with no local licence in the Netherlands.
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