Home » Dutch regulator fined Electraworks for € 350,000
Casino News

Dutch regulator fined Electraworks for € 350,000


Kansspelautoriteit (KSA), the Dutch gambling regulator, imposed a fine of € 350,000 ($ 391,000 / £ 323,000) against the gambling and sports betting operator Electraworks for illegally operating the bwin.com website in the country.

The Netherlands Gaming Authority confirmed the sanction to ElectraWorks Limited, the Gibraltar-based subsidiary of the online gaming giant GVC Holding.

“In fighting illegal offers online, the KSA focuses primarily on suppliers that target Dutch consumers,” the statement said.
The KSA found in its investigation that for some time the gaming platform offered a variety of sports betting and online gambling, which included blackjack, poker and roulette.

This is the second time this year that the subsidiary company of GVC Holdings is fined by the Dutch regulator for illegally offering online games, through its 1xBet.com site.

Last February Kansspelautoriteit (KSA) issued another € 400,000 penalty against 1X Corp. NV based in Curacao, also owned by GCV Holding, which operates the 1xBet.com website and against Cyprus-based Exinvest Limited that manages the site xbet-1.com.
KSA concluded that bwin.com online games aimed only at the Dutch public because the offered payment method (IDEAL) is from the Netherlands.

The Netherlands considers online gambling and betting services illegal without a license issued by Kansspelautoriteit, although the country is currently in the process of joining the regulated market after the Dutch Senate passed the Distance Gambling Act in February.

The law will enter into force in July 2020 and will be subject to the prior approval of the Ministry of Justice and Security. Subsequently, the KSA must develop the conditions of the license, waiting for the online gambling and gaming market to begin operating on January 1, 2021.

Currently, obtaining a license from the Dutch regulator is almost impossible due to the demanding rules of the game established in the country. The drastic measures adopted by the KSA seek to combat illegal games and prevent money laundering with a view to preparations for the launch of the regulated market.

Operators who have been fined or have operated the market in the last two years may not be licensed for igaming services in the Netherlands, according to a rule proposed by the KSA.

Among the operators sanctioned so far are 1xBet, MRG, William Hill, Casino.com, Casumo and Mansion Group.

Sources: https://www.igamingbusiness.com/news/electraworks-hit-350000-dutch-fine

About the author

Santiago Contreras

Santiago Contreras

I am a professional journalist dedicated to tracking news related to the stock market, business, finance, blockchain and economics. It is a hobby that I share with sports in general, with special attention to tennis, basketball and soccer. I like to offer our readers relevant, entertaining and useful content to help them inform themselves and make decisions every day. Thanks for reading me!

Add Comment

Click here to post a comment

The following GDPR rules must be read and accepted:
This form collects your name, email and content so that we can keep track of the comments placed on the website. For more info check our privacy policy where you will get more info on where, how and why we store your data.