Dutch regulator issues record 37 million euro fine to the operator of a dozen unlicensed casinos
The Dutch Gambling Authority (KSA) has fined EOD Code SRL a record 37 million euros for running about a dozen online casinos without a Dutch licence. Inspectors were able to register and gamble on the sites from the Netherlands.
Many casinos open to South African players hold offshore licences and no South African one. The Dutch case shows how a regulator can pursue an operator that is based abroad, and that a company registered in a distant jurisdiction is not out of reach. It is a reminder that an offshore licence is not the same as approval in your own country, and that unlicensed operators can face large penalties in markets that enforce their laws.
What happened
CDC Gaming reported on 25 October 2026 that the Dutch gambling regulator, the Kansspelautoriteit (KSA), had issued a record fine of 37 million euros, about 41.5 million US dollars. The recipient is EOD Code SRL, a company that says it is registered in Costa Rica.
The KSA said the company ran around a dozen online casinos aimed at players in the Netherlands without a Dutch licence. Sites named in the report include Instantcasino and Skyhills.
How the regulator built its case
KSA inspectors registered on the sites and gambled on them. According to the report, there were no measures in place to stop people in the Netherlands from using the casinos. Access from Dutch territory is what the regulator relied on, whatever the company's own address.
The wider picture
The fine is the largest the KSA has issued,. Earlier this month, the regulator also joined a task force with Google and Meta against illegal casino adverts. The full KSA decision has not been checked for this brief, so details such as appeal rights are not covered.
What it means for South African players
South Africa has no licensing regime for online casinos, so the situation is different, but the lesson carries over. When a site says it is licensed, ask where, and whether that licence covers the country you play from. Our reviews separate "not licensed in South Africa" from "accepts South African players" for that reason. Read the methodology page for how we treat licence claims.
What to watch next
Watch for an appeal by EOD Code SRL, any follow up by payment providers or search engines, and whether other regulators pursue offshore operators in the same way.