Yggdrasil Expands its Presence in the Contentious Dutch iGaming Market

In August, the Dutch iGaming regulator published a report revealing a €40 million decline in iGaming revenue. The reason? The Kansspelautoriteit, or Dutch gambling regulator, made a tax hike in January 2025, raising gross gaming revenue tax from 30.5% up to 34.2%. And, it is set to jump again in January 2026, going up to 37.8%. On top of that, new bans were rolled out, including deposit limits and restrictions on advertising.

The industry groups raised concerns about the policies and how they would affect the broader market sustainability. These alarms were shot down at the time, and now the concerns around players migrating to unlicensed platforms are mounting. However, not all operators see this as a threat. Yggdrasil’s recent partnership with Goldrun Casino indicates optimism in the market, and they are not alone.

Yggdrasil and Operators Entering the Netherlands

The popular game developer, Yggdrasil, has expanded its presence in the Netherlands iGaming market, by forming a partnership with Goldrun Casino. Dutch players will have access to 40 of Yggdrasil’s top slots games, including a handful of freshly launched titles. Goldrun Casino, run by Holland Gaming Technology, offers slots, live casino games and keno.

Another important addition was Starcasino snapping up video slots from 3 Oaks Gaming. Unlike Yggdrasil, which already had a partnership with Holland Casino and had games running in the Netherlands, this is new territory for 3 Oaks Gaming.

In June, 888 returned to Holland after a 4-year absence, partnering up with the local ComeOn Group. Operators are keen to get into the heavily restricted Dutch iGaming market. The Kansspelautoriteit, or KSA, is seemingly tidying up the scene. However, it still does not change the fact that a lot of the revenue is bleeding over into the unregulated market.

Falling Revenue Reports by the KSA

Industry trade bodies warn that gross gaming revenue has fallen by as much as €40 million in the first half of 2025. Compare that to the first half of last year, and that is a 25% drop in revenue. Dutch online casino operators argue that the combination of higher taxes and tough restrictions has squeezed margins and cooled demand. This undermines the legal market rather than boosting it, and ultimately impacts the gaming experiences these platforms offer players.

Dutch Laws Affecting Players

The Dutch online casino gaming experience has also undergone some drastic changes. This is down to the tighter deposit limits, affordability checks and mandatory contact or intervention by operators. On the plus side, for players, the reports have shown a drop in average monthly losses. Average monthly losses for individual gamers have shrunk considerably, from ~€116 to ~€80. The number of players losing over €1,000 per month also saw a sharp decline.

Just under 1% of players had amassed losses exceeding €1,000 as opposed to ~4% before the legislative changes. But there have been caveats for players. The decrease in losses has mainly occurred because of the stricter deposit limits. Deposit limits are set at €300 for players age 18-25 and €700 for players older than 25. The limits are automatically set on the first day of each calendar month. Should a player want to deposit more than €350 (€150 for young adults), they have to contact the operators to gain approval. If a player reaches 50% of their deposit limit in a month, they must be notified by the operator.

Affordability Checks and Verification for Larger Limits

Furthermore, if players wish to exceed the thresholds, the operators must perform affordability checks. This extra verification and sharing of personal financial information has definitely impacted the overall gaming experience. Because players are effectively limited to playing at the lower deposit limits, unless they are happy to submit personal information regarding their finances.

To recap:

• €700 monthly limit for gamers aged 26+
• €350 monthly limit for gamers aged 18-25
• Single deposit limits of €350 for gamers aged 26+
• Single deposit limits of €150 for gamers aged 26+

Going over these limits results in contacting the operator, extra verification, and affordability checks

The Proposed Tax Hike in January 2026

For operators, the changes will not stop there. One of the main reasons industry groups are raising their concerns is that the tax hike was just part 1 of a 2-phase initiative. In January 2026, the tax rate on gross gaming revenue will be pushed up from 34.2% up to 37.8%. In a statement following the drop in KSA revenue,  State Secretary for Taxation Eugène Heijnen made it clear the government will not back down.

They intend to carry on with the second tax hike. The government even projected an additional €200 million in annual revenue from gambling taxes between 2025 and 2028. But with the GGR sliding downwards, the evaluations may be more wishful thinking. Nevertheless, the official line remains unchanged. The fiscal strategy and player protection priorities take precedence over short-term operator concerns.

Main Players in the Dutch Market

There are over 25 igaming operators in the Netherlands, registered by the KSA with online casino games (against license holders). Factoring the licence holders with peer to peer gaming platforms, online horse racing and online sports betting, that number goes to just over 30 operators. However, that does not mean the Netherlands has just 30 online casino gaming and sports betting brands. Because licence holders can run multiple sites. Most commonly, this occurs with one operator running multiple gaming sites under 1 brand, like bet365 Bingo, Poker, Sports Betting, and Games. The biggest players in the industry include:

• 21 Heads Up Ltd (BetMGM brands)
• Godwits Limited (888 brands)
• Hillside (New Media Malta) PLC (bet365 brands)
• Holland Casino NV
• LeoVegas Gaming PLC (LeoVegas brands)
• Optdeck Service Ltd (Unibet brands)
• TonyBet OU (Tonybet)
• TOTO Online BV (Dutch lottery brands)
• ZEbetting &Gaming Netherland BV (Zebet brands)

On the trade body side, VNLOK and NOGA play an active role in defending operator interests. Both organisations have repeatedly highlighted the risk that overly strict policies could drive Dutch players into the unregulated market, undermining the very consumer protections regulators are trying to enforce.

Looking Ahead in the Dutch iGaming Market

Regulations relating to advertising and sponsorship have also affected the iGaming operators in the Netherlands. And unfortunately, players also feel the hit in the gaming products and experiences provided by these platforms. Growing pressures have also mounted on iGaming authorities as the unregulated market is estimated to have grown.

Tax hikes and the restrictive deposit regulation has certainly fuelled the interest in the black market. The Netherlands Gambling Authority reported that the black market makes up about 51% of annual player activity. While difficult to prove otherwise, the figure is highly alarming, as it could signal further woes for operators and software providers seeking to break into the Netherlands.

Sure, the market may recover with more operators investing in the Netherlands, but with current trajectories, they could be boarding a sinking ship. Still, the Dutch iGaming market is pretty new, having launched just back in October of 2021. But these figures should alarm both policymakers and operators, and hopefully prompt some changes that win back the ever-growing percentage of Dutch players turning to illicit iGaming operators.