UK Gambling Commission Suspends Triplebet’s Operating License
The UK Gambling Commission has suspended Triplebet’s operating license.
The regulator announced this week its decision to suspend the gambling firm’s license to operate in the United Kingdom after a two-year review of the business. As a result, Triplebet’s sportsbook Matchbook has been suspended.
According to reports, the Commission made the decision to suspend Triplebet’s license under Section 116 of the Gambling Act 2005. This allows the Commission to suspend an operator’s license if the Commission believes the firm’s licensed activity is being carried out inconsistently with the Commission’s licensing objectives.
The conditions also allow the Commission to suspend an operator’s license if the Commission suspects it to have been breached or if the firm fails to co-operate with a review of its gambling activities. Finally, the conditions provide the Gambling Commission with the power to suspend licenses if it believes the gambling firm is unsuitable to continue operating.
As of today (February 20) users who visit the Matchbook website are greeted with a notice over the suspension. It reads: “Today the United Kingdom Gambling Commission has taken the decision to temporarily suspend the operating license of Triplebet Limited (t/a Matchbook). As a result, from 23:59 on 17 February 2020 we will be briefly closing for all betting and casino activity in the United Kingdom.”
“Matchbook has been in regular contact with the United Kingdom Gambling Commission and has agreed a path forward where it will deliver on a number of conditions. We will be back soon and we are committed to providing a betting exchange which adheres to very high standards.”
What They Say
In a statement, a spokesperson for Triplebet said: “Triplebet 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 standards of compliance required of it.
“Last year, Triplebet engaged a third-party compliance specialist in order to evaluate 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.”
Matchbook will continue to settle all current wagers and will allow customers to access their accounts. However, the site has temporarily stopped accepting registrations from new customers.