The Dutch gambling regulator (KSA) has imposed a penalty order that could go up to €840,000 if Polymarket doesn’t stop its operations in the country.The KSA stated that...
KSA imposes record €24.8M fine on Novatech
The Netherlands Gambling Authority (KSA) has issued a record fine of €24.8 million to illegal gambling operator Novatech, which operates the Qbet and 55Bet brands.
In addition to that, the KSA also imposed a €1.8 million penalty on Fortaprime SRL, operator of the Amonbet, Supraplay, Bilucky, Gxspins, Kaasino, Hiddenjack, and Luckymax7 brands.
Investigators found that Netherlands customers were able to create player accounts and make deposits at all of the brands mentioned above, despite the fact that the operators had no local licenses to offer gambling in the country. The KSA discovered that technical measures weren’t applied to prevent players from accessing the websites.
Other aggravating violations were also identified during the investigation, including a lack of visible age verification and an option to pay with cryptocurrency or anonymous payment methods, which could lead to a higher risk of money laundering.
KSA Chair Michel Groothuizen commented on the fines:
“We determine the fine based on the (estimated) turnover the illegal provider generated from players in the Netherlands. We are limited in this respect by the law, which stipulates that the fine may not exceed 10% of global turnover. Novatech earned hundreds of millions from its illegal offering, primarily from Dutch players. A fine of €24 million sounds impressive, but without the 10% maximum, the fine would have exceeded €100 million: an amount that would be more appropriate for this offence.”
Some reviews on affiliate websites also showed that the brands accepted players from the Netherlands, which was used as evidence in the investigation. As a result of this, the KSA issued an additional warning to influencers and affiliates who advertise illegal operators that they could face sanctions as well.
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