News Matchbook Hit with Suspension

Matchbook Hit with Suspension

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The determination of the UK Gambling Commission (UKGC) to enforce the UK gambling regulations was underlined once again on Monday when they took action against a leading betting firm.

The UKGC has taken the unusual step of issuing a temporary licence suspension against the betting exchange operator Matchbook. At the end of its Monday trading, Matchbook was forced to suspend all UK casino and betting markets.

The action forced the Dundalk-based company to freeze all of its betting markets. They also issued a statement updating customers. The statement, which is available on the Matchbook site details that the UKGC has imposed a licence suspension against Triplebet Limited, Matchbook’s operating company, and as a result, customers would not be able to place bets:

“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. During this time, we will continue to settle all open positions and you will have access to your account to withdraw your funds.”

Matchbook have reassured customers that they will be able to withdraw their funds through the site without difficulty, and that the company would continue to settle any existing positions relating to open wagers throughout the term of the suspension.

To date, the UKGC has not confirmed why Matchbook have had their licence suspended or given any indication as to when the suspension might be lifted.

The operating company for Matchbook, Triplebet Limited, is registered in Guernsey, and has a licence to offer online betting, casino services and pools betting. After significant investment in the design and capability of its site, Matchbook relaunched with a new UK profile in 2014, as it attempted to challenge the leading exchange company in the UK, Betfair.

The suspension comes just days after the leadership of UKGC met with UK politicians to discuss the enforcement of gambling regulations and the issues around gambling harm.

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