DUTCH REGULATOR HITS TIPICO WITH €530K FINE

The Dutch Gambling Authority, Kansspelautoriteit (KSA), has hit Malta-based iGaming operator Tipico with a €531,250 fine for illegally offering online gaming to Dutch customers. 

According to the KSA, an investigation that began in January found Tipico was illegally offering games of chance to customers in the Netherlands via its tipico.com website. Investigators say they were able to register and deposit money into an account from the Netherlands. It was subsequently found that, between 30 April to 31 July 2020, there had been almost 5,000 transactions involving Dutch bank accounts.

This violation attracted a base fine of €200,000. However, the KSA then piled on extra fines of €75,000 each for offering illegal bonuses, charging an inactivity fee, and offering live betting. The fine was also increased because the KSA deemed Tipico had not adequately verified the ages of customers. 

Following the action, Tipico has blocked access to its website from Dutch IP addresses. 

With the long-awaited and much delayed launch of the Dutch gambling market due on 1 October, those operators who have successfully secured a KSA license are gearing up to battle for market share in what promises to be a lucrative market. 

AYO.NEWS says:

Though Tipico might not be having much luck in the Netherlands, it’s been making big strides in rapidly growing US markets over recent months. Just last week, the operator announced a deal with TVM DOOH, the largest display screen network in restaurants and bars across America, while earlier in the month it inked a 10-year multi-state market access agreement with Caesars Entertainment.