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by Glenn Baird - February 19, 2020
The UKGC has decided to suspend the licence of Triplebet, the owner the Matchbook brand at the end of what had become a 2-year review of the company.
In a statement left on their website, Matchbook said that they would be “briefly closed” for business, suspending all betting and gambling transactions and activity in the UK. They did, however, make it clear that they would honour any open bets and that all customers have access to the fund in their accounts.
The decision to suspend Matchbook’s licence was made under Section 116 of the Gambling Act 2005.
This rule in the Gambling Act essentially allows the UK regulator the right to suspend any licence that they believe is running counter to licencing law.
Triplebet has responded via a spokeperson who said the company: “takes its responsibility as a betting and gaming operator very seriously, and accepts the GC 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.”
They added: “Last year Triplebet engaged a third-party compliance specialist in order to elevate its standard of compliance beyond what is required by the GC. 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.”
It is thought that, whilst the recommendations for change that were given have been implemented, that the process did not come son enough for an official hearing that took place in January this year.
The United Kingdom of Great Britain and Northern Ireland sits to the north-west of mainland Europe. The United Kingdom shares a border with The Republic of Ireland and has coasts on the Atlantic Ocean, Celtic Sea, North Sea, Irish Sea and English Channel. The population of the UK is approaching the 67.6 million mark leading to a fairly densely populated land mass. The gambling sector in the United Kingdom is entirely regulated and licensed by the UKGC – the United Kingdom Gambling Commission. Should players resident In the UK wish to gamble with foreign based operators there is no history of this being treated as a criminal offence, but high levels of protection exist for UK residents playing with UK licensed operators.
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