illegal casinos

The Netherlands makes a move against illegal casinos

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On 6th of December, Dutch gambling regulator Kansspelautoriteit (KSA) has announced that it will take even harder measures to clean up the online casino market. Until now, an online casino had to pay a fine of up to 150,000 EUR if its services were used by the Dutch residence. Today the Netherlands have confirmed that the size of this fine is expected to raise over five times. It will be capped at 820,000 EUR, hence targeting the Dutch players have become even more risky.

On a side note, it has to be mentioned that there are no legal online casinos in Holland. While many of the brands have started offering possibility to gamble with bitcoins to the Dutch players due to an enhanced privacy, it is still risky operate in this market because of the potential size of the penalty. However, as of 2017 it is planned to offer online casino regulation in the Netherlands. It is still unclear whether this regulation will be limited to regular casinos only, or whether it will be possible to obtain for the operators of the online bitcoin gambling houses too. Yet one thing is for certain, a regulator looks into removing all of the toxic casinos from its market once and for all.

Is it good or bad?

For most of the legitimate casinos this is actually a great piece of news. Not only such casinos will be able to continue operating in the Netherlands, but also they will face way lower competition from the unregulated brands. The main question is what such brands will do with their current customer base from this country.

The Dutch attitude

It is quite interesting how the Netherlands plan to establish and regulate online casinos. There is not much information available as of yet, however, a good example would be to look into the Dutch offline casino regulation. There is a legal monopoly for this kind of business in the Netherlands from Holland Casino, and all of its profits go directly to the Dutch treasury. The data tells us that in 2007 it earned 267 million EUR, while the current figure may certainly surpass 400 million EUR. There is a chance that the Dutch legislation will enable only a limited amount of operators to apply for the license as it will clearly drive the profits away from the nationalised offline gambling business.

The Netherlands makes a move against illegal casinos was last modified: December 9th, 2016 by CasinoNews.Today
Source: Kansspelautoriteit