KSA imposes penalty order against Chestoption Sociedad de Responsibilidad Limitada
The crypto casino does not hold a licence from the KSA, nor any kind of regulated jurisdiction.
Key points:
– The KSA has asked Chestoption Sociedad de Responsibilidad Limitada to immediately stop operations in the country or face paying a penalty
– This would be set at €280,000 ($318,411.58) per week, up to a maximum of €840,000
– The company operates several crypto-based gambling websites
Kansspelautoriteit (KSA), the Dutch Gaming Authority, has imposed an order subject to a penalty on Chestoption Sociedad de Responsibilidad Limitada.
The operator owns and runs several websites, such as vave.com, vave-luck.com and 65avev55.com, which are crypto-based gambling sites.
While Chestoption does not have a licence to operate in the Netherlands, players were still able to make accounts on the sites, deposit and play games offered by the casino.
According to an investigation held by the KSA, Chestoption had no measures in place to stop players from the Netherlands accessing the site, such as geoblocking or even a list of excluded countries.
When Gambling Insider tried accessing the website, it does seem to have location blocking activated – but it is unclear if this is primarily for the UK or whether this was introduced since the order was imposed by the KSA.
However, the operator does still explain how to use a VPN or proxy service to circumvent these procedures in the ‘Country blocked’ pop-up.
Good to know: Costa Rica does not have a licensing framework that many other gambling commissions do, instead, you just need to obtain a Data Processing Licence and hold an office in the country
The operator had previously held a Curaçao online casino licence, but upon closer inspection, it has recently changed management and has lost this licence.
It is currently operating under the laws of Costa Rica, which is not a regulated jurisdiction when it comes to running a gambling business.
This is because Costa Rica does not hold any licensing requirements to obtain an iGaming licence, nor does it maintain any industry oversight or dispute-solving capabilities.
For a more in-depth look at Costa Rica’s current gambling landscape, Gambling Insider spoke with Betsul CEO Fernando Garita to get a full explanation and analysis of the situation.
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