The Dutch gambling regulator Kansspelautoriteit (KSA) has imposed a record fine of €37.25 million on EOD Code, a company without a Dutch license that runs twelve gambling sites, including Instantcasino and Skyhills. The decision was announced on October 22.
The crypto angle is the payment method. Players could pay with bitcoin, and during the investigation a KSA employee deposited €20 in bitcoin on Instantcasino. Some sites also accepted iDEAL and major Dutch banks. The KSA counts crypto payments as an aggravating factor because they can facilitate money laundering and tax evasion.
The regulator also found that player age was not visibly checked, that some sites lacked deposit limits, and that the terms let the company keep players’ remaining balance when they asked to self-exclude. The KSA estimates Dutch players lost about €108 million more than they won back in 2025. EOD Code supplied no revenue figures, so the KSA estimated them from search data.
The calculated fine was about €293 million, but Dutch law caps fines at 10% of global turnover, which cut it to €37.25 million. EOD Code was ordered to stop in July 2025, yet a July 2026 check found that Dutch users could still gamble on Instantcasino. The case shows regulators treating anonymous payment methods as a risk factor in enforcement.
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Sources:
- Crypto Insiders: Nederland deelt recordboete van €37 miljoen uit aan goksites met crypto
- Kansspelautoriteit: Nieuwe recordboete illegaal kansspelaanbod
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