Netherlands issues record €37 million fine to EOD Code SRL for operating 10 unlicensed gambling sites

The Dutch regulator has handed EOD Code SRL a €37 million penalty, the largest fine in the Netherlands for illegal gambling operations. For PSPs, acquirers, and bank partners, the signal is simple: operating multiple unlicensed sites in one market can turn into a very expensive problem very quickly.

1. EOD Code SRL was fined for managing 10 gambling websites without the required licenses in the Netherlands. The penalty amount, €37 million, is the record fine cited for an illegal operator in the country.
2. The case matters beyond the operator itself. A multi-site structure is exactly the kind of setup that payment teams need to flag early, because it usually means repeated exposure across the same jurisdiction rather than a one-off compliance miss.
3. For high-risk PSPs, the practical takeaway is that Dutch exposure is not just about the merchant name on the contract; it is also about whether the underlying sites are licensed and whether the operator is running a portfolio of domains without authorization.