Matchbook freezes UK activity following UKGC suspension

Closing Monday 17 February trading, online betting exchange Matchbook has been forced to suspend its entire UK betting and casino services.

The Dundalk-based operator issued a statement to customers detailing that the UK Gambling Commission (UKGC) had sanctioned a temporary licence suspension on its operating company Triplebet Limited.

“As a result, from 23.59 on 17 February 2020 we will be briefly closed for all betting and casino activity in the United Kingdom,” read Matchbook’s player statement. “During this time we will continue to settle all open positions and you will have access to your account to withdraw your funds.”

Matchbook customer service has communicated that the betting exchange will allow existing UK customers to withdraw their funds and that the exchange will further settle all existing positions on open wagers.

As yet, UKGC governance has not issued an official statement detailing why Matchbook has been suspended or whether the operator will be reviewed.

The UKGC’s registry details Matchbook operating company Tirplebet Limited (licensee 39504) as a Guernsey registered enterprise, sanctioned to operate the remote wagering services for remote betting, pools and casino services.

Following significant investment to revamp its platform capabilities in 2014, Matchbook relaunched its entire UK profile seeking to become a challenger to online exchange market leader Betfair.

Triplebet would issue the following statement: “Triplebet takes its responsibility as a betting and gaming operator very seriously, and accepts the UKGC panel’s findings following a two-year review. ”

“Triplebet believes that compliance goes to the heart of offering a betting exchange product, and through the introduction of new policies and the establishment of a Compliance Committee Triplebet has shown that it is committed to achieving any standard of compliance required of it.  Last year Triplebet engaged a third-party compliance specialist in order to elevate its standard of compliance beyond what is required by the UKGC. Over the coming weeks these recommendations will be completed in full, and an independent audit will be carried out with a view to the license being reinstated.”

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