KSA issues penalty payment order against Curaçao-based crypto casino
Dutch regulator has acted against FBC BV after multiple inspections found players based in the Netherlands could participate in games of chance despite the firm’s lack of licence
The Netherlands Gambling Authority (KSA) has issued a weekly penalty payment order against FBC BV for operating in the market without a licence via its website FreeBitCo.in.
The KSA’s penalty, which amounts to €240,000 (£198,100) per week up to a maximum of €840,000, has been implemented in a bid to ensure the unlicensed outfit ceases all operations within the Dutch market.
Since January 2023, the regulator oversaw several investigations into FreeBitCo.in and, on each occasion, a KSA inspector was able to create an account, make a deposit and gamble, including betting on sports.
Using Bitcoin, the inspector placed a bet on two different La Liga football matches over the course of the three inspections, with no system in place to prevent Netherlands-based players from participating.
However, in an emailed response, FBC FV told the KSA that the FreeBitCo.in site operates as a “free giveaway website” where users can win Bitcoin, and also claimed it had blocked Dutch IP addresses from being able to access games of chance.
With the KSA having determined that Dutch users were still able to place bets, FBC BV requested an extension to its timeline to cease all violations in September 2024.
The firm cited technical difficulties and differences of opinion between board members as reasons for the extension request.
However, another reinspection by the regulator in November 2024 found none of the aforementioned violations had been halted, with the KSA forced to proceed with penalty payment action.
Curaçao-based FBC BV has lodged objections to the KSA’s ruling but, at the time of writing, the penalty payment order remains in place.
Elsewhere, the operator has been warned by the Australian Communications and Media Authority (ACMA) for similar offences, including offering unlicensed gambling services to Australian customers.
Last month, the KSA took action against two unlicensed operators – Techno Offshore Limited and Novatech Solutions – which prompted Michel Groothuizen, the regulator’s chair, to issue an update on its ongoing fight against illegal activity.
“Illegal providers operate in a sophisticated manner. We see providers without a KSA licence who really do their best to keep Dutch players out, but also many parties who don’t seem to care,” Groothuizen said.
“With an order subject to penalty payments, we put a stop to the offer as soon as possible, but afterwards we can just as easily impose a hefty fine for the same violation.”