Dutch regulator reprimands 711 over withdrawal restrictions

(PRESS RELEASE) -- The Dutch Gaming Authority (Ksa) has reprimanded 711 for requiring some customers to wager deposited funds before they could withdraw them. This type of wagering requirement is only permitted in conjunction with an offered bonus, and even then, under strict conditions. In all other cases, gambling companies must always pay out as quickly as possible.

When someone wishes to withdraw their deposited money, that balance must be refunded immediately. Gambling companies may not impose structural conditions that prevent such immediate payout.

The Ksa received a report that 711 applies such wagering requirements to people using payment methods other than a 'regular' bank account. According to 711, this procedure was established as part of measures to prevent money laundering.

While it is true that payouts may be delayed in the context of a money laundering investigation, such a delay must be of the shortest possible duration and the payment may not be suspended permanently. Furthermore, a gambling company may not require that the deposited money be wagered at least once.

The Ksa considers 711's practice highly undesirable and has therefore immediately entered into discussions with the company. Following these discussions, 711 has taken measures to prevent recurrence. They have also clarified that players who did not wish to wager the amount could have it refunded to their original payment method. The Ksa emphasizes that gambling companies were already informed in 2024 about the obligations and exceptions regarding the immediate payout of player funds , and that this type of violation should no longer occur. Should 711 commit another violation, the Ksa may take stricter action.