Casbit is facing potential penalties for operating unauthorized gaming ventures.
The Dutch gaming oversight body, Kansspelautoriteit (KSA), has cautioned Casbit Group that it may be subject to recurring fines if it continues to provide unauthorized online gambling services within the nation.
The KSA asserts that Casbit has been offering unauthorized online gaming services within the country. Casbit operates within the Netherlands through its Lala.bet website.
The KSA stated that it has issued numerous warnings to Casbit regarding its activities and indicated that it could impose financial penalties. Casbit responded by making its website inaccessible to Dutch players.
However, upon re-examination, the regulatory body discovered that Dutch players could still access the website. Consequently, the KSA has proceeded with the penalty order. The penalty order will become effective if Casbit fails to cease its operations within the country.
Casbit could face fines of up to €840,000.
Therefore, Casbit will be required to pay a weekly fine of €280,000 (£239,002/$299,156) while it operates in the Netherlands. The fine could reach a maximum of €840,000, or a maximum of three weeks of illegal activity.
“There are stringent rules and regulations for authorized providers of games of chance,” the KSA stated. “These rules are designed to ensure safe and legal services, guarantee fair play for players, and safeguard them from gambling addiction.”
The Kingdom of Saudi Arabia is very serious about putting a stop to unlawful gaming. They state that offering games without authorization puts the system and those participating at risk.
Casbit is the most recent business to face issues with the KSA for conducting online games without a license in the Netherlands.
Earlier this year, the KSA levied a record €19.6 million fine on Gammix Limited for providing unauthorized games.
In June of 2022, Gammix was instructed to exit the market or face a €1.4 million penalty each week. Subsequently, in March of 2023, the KSA ordered Gammix to pay €4.4 million for failing to cease their operations in the Netherlands.
The most recent fine is due to Gammix’s inaction in preventing Dutch players from utilizing their games.
The KSA is not solely targeting companies. This week, they instructed DigitalOcean, a hosting provider, to discontinue services to illegal gambling websites.
The KSA issued this order following an investigation in 2023. They typically take this action when an infraction has occurred but a penalty has not yet been determined.
The legal gambling market in the Netherlands is expanding.
The KSA recently published a report on the gambling market. It reveals that total gambling revenue increased by 28% in 2023, reaching €1…
Thirty-nine billion.
The count of player accounts soared from 970,000 in December 2022 to 1.1 million in December 2023. The report assesses that 726,000 players were engaged with legitimate providers. This indicates that in the latter half of 2023, approximately 5% of the adult population were active bettors.
Looking forward, H2 Gambling Capital forecasts that growth in the Netherlands will settle at roughly 8% over the ensuing five years.
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