Dutch Regulator Imposes Fines on FBC BV for Illegal Gambling
The Netherlands Gaming Authority, Kansspelautoriteit (KSA), has issued the Curaçao-based FBC BV with weekly fines for operating unlicensed gambling services via its platform FreeBitco.in. The fines are set at €280,000 per week and can accumulate to a maximum of €840,000.
Netherlands fines FBC BV for illegal gambling services.
LISTEN TO THIS ARTICLE:Investigations Lasted Almost Two Years
Between January 2023 and November 2024, the Kansspelautoriteit conducted a series of investigations into FreeBitco.in’s operations. They found that Dutch players could register accounts, deposit funds, and take part in illegal gambling activities such as sports betting, without proper licensing.
One finding involved a KSA inspector who successfully registered as a player, deposited bitcoin, and placed a wager on a football game, proving that there was a lack of measures to prevent access by Dutch players, which is a clear breach of local gambling laws.
FBC BV defended its operations by describing FreeBitco.in as a giveaway platform designed to allow users to win bitcoin. The company also claimed it had implemented restrictions on Dutch IP addresses to block access to gambling features.
However, a follow-up inspection on November 5 revealed that these measures were ineffective, as Dutch users were still able to place bets. The company requested additional time to address the violations, citing internal conflicts and technical challenges. Despite these appeals, FBC BV failed to resolve the compliance issues, leading to the enforcement of penalties.
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Broader Regulatory Concerns for FBC BV
The legal troubles for FBC BV extend beyond the Netherlands. Earlier this month, the Australian Communications and Media Authority (ACMA) issued a formal warning to the company for providing unlicensed gambling services to Australian players through FreeBitco.in.
KSA chair Michel Groothuizen spoke about how the regulator is cracking down on illegal gambling activities.
We will send out warning letters more often and deliver short, quick blows, such as with an order subject to a penalty.
FBC BV has filed objections against the penalties, but the fines remain enforceable as legal proceedings continue.
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