The Dutch gaming regulator has reportedly announced that two unlicensed iGaming operators have been forced to abandon the small country's emerging market altogether after being threatened with very expensive 'corrective measures'. .
Kansspelautoriteit said in a press release on Thursday that it had discovered earlier this year that various domains operated by LCS Limited and MKC Limited were allowing Dutch punters to create accounts and engage in real money gambling and launched a thorough official investigation. It states that it has been implemented.The Observatory also said that neither of these companies held local iGaming licenses, meaning their operations were 'prohibited' under the doctrine of the regulatory law passed in 2016. claimed.
risk of depreciation
The Netherlands, home to about 1800 million people, has demanded that unlicensed iGaming companies make their services unavailable to local punters. Kansspelautoriteit subsequently issued separate “stop orders” to MKC Limited and LCS Limited or risked being forced to pay fines amounting to €84,000 ($81,600) and €165,000 ($160,400) respectively. clarified.
If you read Kansspelautoriteit's statement
"Game of Chance providers without a license must ensure that their offers are not accessible from the Netherlands."
Regulatory release
That said, Kansspelautoriteit immediately followed a "suspension order" and began banning Dutch fans from accessing their services, so that these high-value financial institutions that would have had access for a maximum weekly wage of €2 ($55,000) Revealed that he was allowed to evade punishment.The move comes just days after the watchdog released its first annual review of the Dutch iGaming market, in which chairman Rene Jansen said he would make the local market safer for online casino enthusiasts. is still a "desired end goal".
Statement from Kansspelautoriteit
“LCS Limited and MKC Limited were ordered to pay fines of €165,000 ($160,400) and €84,000 ($81,60) respectively. LCS Limited and MKC Limited did not let it go that far, and Kansspelautoriteit will continue to monitor whether this situation will change.”
fast growing scene
The Netherlands launched its newly regulated iGaming market a year ago and has since licensed over 1 domains, including sites like HollandCasino.nl, BetCity.nl and Circus.nl.However, the club is now widely expected to grow further following the government's recent decision to end the 'cooling period' exemption for companies that served Dutch players prior to legalization. .
Comment