Last updated on September 10th, 2023 at 05:32 am
The Kansspelautoriteit is going to review the Netherlands’ online gambling ecosystem. Its goal is to ensure that operators comply with regulations. It came after an operator started offering gambling cashback bonuses.
Dutch law prohibits cashback bonuses. Thus, the operator stopped offering the promo. It raised concerns that other gambling operators could have violated the rule. As a result, the KSA is conducting the investigation.
The KSA issued a clear mandate in November 2022, requiring all registered online gaming businesses to stop providing cashback offers. These incentives are forms of advertising and are thus illegal under Dutch legislation. The primary goal of this prohibition is to encourage responsible gaming and reduce the likelihood of compulsive gambling.
Review of Gambling Cashback Bonuses
According to casino tutorials and news sites, the KSA has been looking into the practice of payback bonuses by licensed businesses and the best pay per head providers after a recent occurrence. This market-wide investigation aims to find any additional permit holders who may violate the restriction. If violators do not promptly stop the practice, the agency said they will take measures to protect the public from harm.
The KSA will not rest until it has ensured that all operators follow the law, creating a safe and fair gaming environment for everybody. Kansspelautoriteit’s constant monitoring and proactive nature allow it to detect and address regulatory violations quickly. This dedication encompasses every facet of internet gaming and explains the recent severe reaction. Thus, you need to comply with the rules as part of how to open a sportsbook in the country.
The Netherlands’ reputation as one of Europe’s safest gaming markets depends on the country maintaining a strict regulatory framework. Earlier this month, the KSA warned various gambling companies about ignoring the country’s new ban on generalized gaming ads. Following regulatory involvement, the offending advertisements were removed, and no penalties were imposed.
While vigilance is necessary for a flourishing gambling industry, it is not without its costs.
Betsson Group has decided not to pursue a license in the Netherlands because of the lengthy and expensive application procedure. Despite this, it is the responsibility of regulators to ensure that gamers may freely engage in online gaming without fear of harm.
One of KSA’s many initiatives to regulate the industry is eliminating cashback benefits. The regulator’s attempts to implement the law highlight the need to uphold uniformly high industry standards. The online gaming industry in the Netherlands is supported and growing thanks to efforts like these.
Start a bookie business with Bwager.com today!
