Virtual Coin Got Fined by Dutch Gambling Authority

The gambling authority of the Netherlands, the Kansspelautoriteit (KSA), has recently fined Virtual Coin, a Curacao-licensed operator, 500,000 euro in addition to another 100,000-penalty issued to a person associated with the company and business.

Virtual Coin has been observed closely by the Gambling authority for a long since it has noticed some critical abnormalities. The operator was found offering different illegal virtual games. Most of those games are games of chance, and they were served by the operator via its websites futgalaxy and futgamer. All those games were presented to Dutch customers, and they did with the help of the existing license from Curacao.

Transgression of Regulations

The gaming authority, the KSA, said minors, if not, then the young adults were the ones who took part in those games of chance. Most of those were themed around a card game Fifa Ultimate Team which was featured in EA Sports’ Fifa video game series. The particular card game has been banned by the Netherlands’ authority.

The regulator proclaimed that enforcement actions against such transgressions and unlicensed operators objectively target Netherlands’ inhabitants, andthose websites in question will face the same actions.

The strict application of the regulations and total intolerance to any violation of those regulations are two main objectives of the KSA. Both websites clearly targeted Dutch people as they used Dutch as the prime language, and their domain names have .nl extension. In addition to all these, those websites were using Dutch payment gateway iDEAL.

The KSA drew some references from the Games of Act, which specifies regulations regarding online gambling. One of the regulations said that online gambling could only be served if a specific license allows it. The KSA alleged the operator of violating the regulation by offering various games of chance without having any license.

Though one of its island countries, Curacao, is an active jurisdiction that provides online gambling licensed to different country’s operators, Netherlands hasn’t yet permitted online gambling for its citizens. The act might change when the new act regarding remote gambling comes into effect in 2021.

Vincenzo Davari is a Best-Selling author regarding online gambling and strategies. He loves to join fascinating games online and share his practical experience through writing. He enjoys reading books and meet with new people.