The Gambling Authority fined five illegal gambling companies a total of 26m euros. They do not have a license for their site, so players are not guaranteed fair play. You are also not protected from gambling addiction.
Fines range from 900,000 euros to 12 million euros and are based, among other things, on the turnover of gambling companies in the Netherlands. The Gambling Authority also checked whether there were circumstances that would justify a higher fine.
Inactive account, payment
For example, N1 Interactive was previously fined more than 12 million euros for breaking the rules. Videoslots have to pay around 10 million to use the Gaming Authority’s logo on their site. As a result, the company hinted that the approval was indeed on point.
Some sites charge players with an inactive account of 5 Euros per month after a certain period of time. According to the Gambling Authority, this is unacceptable as players will be penalized if they don’t play enough. The regulator also says companies are doing little to keep minors off their sites.
pain in the wallet
“The fine should hit where it hurts – the wallet,” says René Jansen, head of gaming authority. With these sums, we believe we can impose an appropriate sanction given the unlawful gains.”
Online gambling is legal in the Netherlands since October 2021, but only if the provider has permission. Since that opening, many more Dutch have started to gamble, especially young adults. All illegal sites currently penalized are operated from Malta.
Source: NOS
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
