
Matchbook: The Online Casino In India For Endless Gaming Fun And Big Wins – The British Gambling Commission has decided to temporarily suspend the operating license of Triplebet – the parent company of exchange betting operator Matchbook – following a two-year investigation into the business.
The British Gambling Commission has decided to temporarily suspend the operating license of Triplebet – the parent company of exchange betting operator Matchbook – following a two-year investigation into the business.
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In a statement on the Matchbook website, the operator said it would “briefly” close all betting and casino activities in the UK. However, it added that it will continue to fill all open positions and customers will be able to access their account to withdraw funds.
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The Gambling Commission said it had decided to suspend Matchbook’s pool betting licence, remote betting and casino licenses under Section 116 of the Gambling Act 2005, which gives the regulator the power under certain circumstances.
These conditions, set out in Article 118(2) of the Act, state that the operating license may be suspended if the Commission considers that the licensed activity is being conducted in a manner that is contrary to the objectives of the license.
It can also take action if it suspects that a condition of the operator’s license has been violated, or if the licensee has not cooperated with an investigation of its activities. Finally, if the Commission considers that the licensee is not fit to continue operating in the market, a suspension may be imposed.
“Triplebet takes its responsibility as a betting and gaming operator very seriously and accepts the results of the GC panel after a two-year investigation,” explained a Triplebet spokesperson. “Triplebet believes that compliance is at the heart of its betting exchange product offering, and by introducing new policies and establishing a compliance committee, Triplebet has demonstrated its commitment to achieving whatever standard of compliance is required.”
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The operator added that it believes its license will be renewed once it continues to meet higher compliance standards.
“Last year, Triplebet engaged a third party compliance specialist to raise its standard of compliance beyond GC requirements. In the coming weeks these recommendations will be fully finalized and an independent audit will be carried out for license renewal.”
Understands that after the Gambling Commission launched an investigation into its practices, Triplebet hired the services of Alvarez and Marsal, a performance improvement consultant.
However, Triplebet did not accept all the proposals during the license hearing at the end of January, after deciding to implement them in stages. As a result, the license was suspended.
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The proposals put forward by Alavarez and Marsal include new policies for the fair treatment of customers, the establishment of a compliance committee, the introduction of a new responsible gambling algorithm and progress towards the adoption of the Gamcare Safe Gambling Standard.
The proposals also include anti-money laundering and problem gambling training by GamCare for 30 key employees and daily testing to identify players who may be subject to international sanctions and politically exposed persons (PEP). However, Triplebet did not disclose which proposals submitted by the consultancy have not yet been approved. We use cookies on our website to provide the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept” you consent to the use of ALL cookies.
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