Illegal gambling site tackled: Ksa demands penalty of €840,000
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22 Dec 2024 •
Reading time: 2 minutes The Gaming Authority (Ksa) has had enough of the illegal gambling on the website freebitco.in. The company behind the site, FBC B.V., received a stern warning: stop these practices immediately. If they don’t? Then they must expect a penalty of €280,000 per week, with a maximum of €840,000.
According to the Ksa, offering games of chance without a license is prohibited in the Netherlands. And that is not without reason. Without control, there is no protection for players, and that entails risks.
Players could easily participate
The website freebitco.in made it very easy for players. You could simply create an account, deposit money and participate in the games.
There were no technical blocks to keep Dutch players out. This made the illegal offer accessible to everyone in the Netherlands. For the Ksa, that is unacceptable.
Why the Netherlands is strict on gambling
The Netherlands has a regulated gambling market, and there is a good reason for that. The aim is to protect players from gambling addiction and financial problems.
The rules ensure that everything is fair and that companies adhere to clear agreements. If companies do not adhere to this, such as FBC B.V., the Ksa takes tough action.
The penalty payments are an example of this. They often ensure that illegal providers stop quickly. And if they do not? Then there are hefty fines for the time that the offer was available.
What does this mean for players?
For players, this means that they are better protected. Illegal sites can entail many risks, from unreliable payments to no help with problems.
By taking strict action, the Ksa wants to ensure that gambling in the Netherlands remains safe and fair.