The owners of the sports betting exchange Matchbook accepted the findings shared by the UK Gambling Commission (UKGC) and confirmed they take their responsibility as a gambling operator seriously.
Apart from that, it became clear that a two-year review of the company was carried out prior to the announcement of the company’s licence being suspended by the gambling regulatory body of the UK. At first, there has been pretty scarce information regarding the reasons why Matchbook had their licence suspended. Yesterday, both the company’s owner Triplebet and the UK Gambling Commission released separate statements concerning the matter.
The UKGC revealed that an operating licence review had been taken into Matchbook under s116 of the Gambling Act of 2005. As the gambling regulatory body highlighted, the Commission has determined to suspend the company’s operating licence No.039504-R-319407-011 pursuant to s118(2) of the Gambling Act. As the gambling watchdog revealed, the suspension of the operating licence would be to an extent that would allow the operator to offer remote facilities for pool betting, operating as a betting intermediary and to offer online casino operations.
The UKGC also confirmed that the suspension of Triplebet, trading as Matchbook, takes immediate effect. At the time when its statement was released yesterday, the gambling operator confirmed that it has instructed the gambling company that it is permitted to continue settling any open positions on bets that have been placed before the licence got suspended. The company may also continue to facilitate its customers accessing their accounts in order to withdraw the available funds.
Matchbook Pledges to Achieve the Required Standards and Accepts Review Findings
On their turn, the owners of Matchbook released a statement to acknowledge the acceptance of the findings of the aforementioned review. The company further revealed that in 2019 they employed a third-party compliance specialist to help them raise their standards.
A spokesperson of the company’s owner Triplebet explained that the operator takes seriously its responsibilities as a gambling and betting company and accepts the findings of the regulatory panel after the two-year review. As the spokesperson shared, it is Triplebet’s belief that compliance goes to the heard of offering a betting exchange product.
The gambling operator’s statement also said that the roll-out of new policies and the establishment of a special Compliance Committee has been a matter of paramount importance as part of the company’s commitment to achieving the required standards. The company also confirmed that it would fully complete the recommendations made by the Commission and added that an independent audit is set to be carried out.
As Casino Guardian already reported, the gambling operator contacted its customers via email on Monday to inform them that it was experiencing a temporary licence suspension and promised to be “back soon”. At the time, the sports betting exchange said that the customers would still be able to log in their accounts and withdraw the available funds.