Matchbook licence suspended temporarily by the UKGC.

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arbusers
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Matchbook licence suspended temporarily by the UKGC.
« on: February 17, 2020, 05:50:13 PM »

Temporary Suspension to United Kingdom Activity

Today the United Kingdom Gambling Commission has taken the decision to temporarily suspend the operating licence of Triplebet Limited (t/a Matchbook).  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 customers will have access to their accounts to withdraw funds.  Should customers have any questions regarding their account during this period, please contact customer services (email: support@matchbook.com; telephone: +44 (0)20 36426867).

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.
« Last Edit: February 17, 2020, 06:20:58 PM by arbusers » Logged
campeones
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Re: Matchbook licence suspended temporarily by the UKGC.
« Reply #1 on: February 17, 2020, 06:50:47 PM »

There is an international betting scam story in Ireland going on as we speak. This must be the case, I only guess.
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neopas
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Re: Matchbook licence suspended temporarily by the UKGC.
« Reply #2 on: February 17, 2020, 07:36:00 PM »

Smarkets is trolling:
Don't worry, we're not going anywhere...

Is it safe to keep funds in Matchbook?
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dealer wins
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dealer wins

Re: Matchbook licence suspended temporarily by the UKGC.
« Reply #3 on: February 17, 2020, 09:33:47 PM »

Couldnt have happened to a nicer company  NOT  ;D ;D ;D

Arsewipes put me (and many others) on 40% revenue share a few months ago for no good reason (was a net losing client over 11 years with them), and are well known for voiding perfectly legit bets costing people £1000s.  Hope they go down the toilet big time!!
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DPG
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Re: Matchbook licence suspended temporarily by the UKGC.
« Reply #4 on: February 17, 2020, 10:59:13 PM »


matchbook are a shambles of a company. they closed my account for no good reason other than my account was up. they pay people to leave fake good reviews on trustpilot because all the legit review were damning of how rubbish they were. hope they are banned for good.   :)

i remember when they started charging for withdrawals without any notice given. how they got away with that i do not know. well i do actually. there's no proper regulations in the betting industry.
 
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arbusers
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Re: Matchbook licence suspended temporarily by the UKGC.
« Reply #5 on: February 18, 2020, 10:22:06 AM »

The fact that Matchbook seems to be ready to pay out all balances is encouraging. I m quoting Matchbook's statement that was published earlier this morning:

''The temporary suspension of our UK license poses no threat to customer funds, which have been, are and will remain safe for all of our customers. Customers are able to freely withdraw their funds now and will continue to be able to do so throughout the duration of the suspension.''

At the same time, there are questions about the reason for the suspension. Media reported at the end of January that an international scam took place involving Matchbook. You can read some more about it here:
https://www.independent.ie/business/irish/cork-based-tech-company-caught-up-in-1m-a-day-international-betting-scam-38908141.html

It seems there is an agent style business going on with Matchbook allowing certain players to bet with credit. I can only assume that some procedures did not take place according to UKGC standards and probably this is the reason for the suspension.

At this point, let me remind you that Betfair stopped all agent style business a couple of months ago.  Betfair is still operating in the UK. Matchbook is not.

Talks between bookmakers and regulating bodies require a lot of time.
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risilloch
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Re: Matchbook licence suspended temporarily by the UKGC.
« Reply #6 on: February 19, 2020, 08:51:51 AM »


''The temporary suspension of our UK license poses no threat to customer funds, which have been, are and will remain safe for all of our customers. Customers are able to freely withdraw their funds now and will continue to be able to do so throughout the duration of the suspension.''


This appears to be true, my funds (low 4 figures) arrived in my account yesterday after having initiated a withdrawal on Monday
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SuperSquirrel
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Re: Matchbook licence suspended temporarily by the UKGC.
« Reply #7 on: February 20, 2020, 12:10:14 PM »

good to know they paying out existing customers. I think they've broken some gambling commission laws.

Sticking to Betfair with the 2% commission going forward. And use Betdaq now and then
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arbusers
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Re: Matchbook licence suspended temporarily by the UKGC.
« Reply #8 on: April 11, 2020, 06:25:35 AM »

More light was shed in this case recently when the UKGC published details on its decision to suspend Matchbook's license.
A number of media reported that Matchbook accepted syndicate betting and action from high-risk individuals without conducting proper AML procedures. These reports are now confirmed to a large extend.
Matchbook allowed a customer to wager more than £2m in a single day without requesting any source of funds or source of wealth. This happened in a period when almost all UK bookmakers are requiring a source of funds for deposits lower than 2k.
Another high-risk customer lost £714k within a year without Matchbook conducting any due diligence at all.
A betting syndicate managed to match more than £40m in bets, within an 18-month period without any risk assessment. It is not clear what this syndicate's role was. They may just pump liquidity in the system, or simply gamble.
It is rumored among circles of bettors, that Matchbook will be back in the UK within the next month. However, the Covid19 crisis is slowing down everything as most actors of the betting world are now operating remotely.
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balls of steele
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balls of steele

Re: Matchbook licence suspended temporarily by the UKGC.
« Reply #9 on: May 21, 2020, 03:07:33 PM »

Any idea when they are coming back in the UK?
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arbusers
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arbusers

Re: Matchbook licence suspended temporarily by the UKGC.
« Reply #10 on: May 23, 2020, 07:44:50 AM »

Any idea when they are coming back in the UK?

It is rumored they will return back to business imminently.
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arbusers
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Re: Matchbook licence suspended temporarily by the UKGC.
« Reply #11 on: May 27, 2020, 10:22:52 AM »

Matchbook's CEO is stepping down from his position but remains in the group. The exchange is rumored to return in the UK very soon.
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risilloch
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Re: Matchbook licence suspended temporarily by the UKGC.
« Reply #12 on: May 27, 2020, 02:05:06 PM »

They couldn't have picked a better time to have had their licence temporarily suspended.
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