Triplebet, which owns and operates the betting exchange Matchbook, will now be able to offer its services to UK customers, with the temporary ban on its remote gambling licence being lifted by the UK Gambling Commission (UKGC).
The suspension of the online gambling licence held by Triplebet was lifted after the UK gambling regulatory body found that the company took into account and implemented all necessary measures.
The online casino, pool betting and betting intermediary operating licences of the gambling operator were temporarily banned by the UKGC in February this year under Section 116 of the 2005 Gambling Act. Several days ago, the UK gambling watchdog updated its notice of the suspension of Triplebet’s licence, announcing it had been annulled, as the operator had implemented the remedial measures that the UKGC required.
Matchbook has not revealed the exact date when its business is to resume operation but a message published on its website suggests that this may happen in a few days. The gambling company confirmed that its licence suspension had been lifted, so it was doing its best to get the website back in operation as soon as possible.
UKGC Previously Imposed £740,000 Fine on the Gambling Operator
As part of the conditions that had to be fulfilled in order for Triplebet to see its licence ban lifted, the gambling company was required to make sure it gets a report from independent auditors confirming it had implemented the outstanding recommendations that were made at the time of the suspension.
The recommendations in question included new policies implementation to guarantee that all customers of the company are treated fairly, the development of a new algorithm regarding responsible gambling, the establishment of a new compliance committee at the operator and some progress towards certification from Safer Gambling Standard of Gamcare. Furthermore, the owner of the Matchbook betting exchange was required to introduce problem gambling training and anti-money laundering training to be carried out for 30 key staff members. The company also had to implement daily screening to identify players who may be subject to international sanctions.
As Casino Guardian reported at the time, Matchbook was forced to stop operation in February as part of a sanctions package unveiled by the UKGC against the company. The country’s gambling regulator did not provide reasoning at the time when it announced the temporary suspension of the operator’s licence, but it did so at a later stage, saying that money laundering and social responsibility failures were the main reason for the imposed measures.
Apart from the fact that the watchdog blocked Triplebet from offering its UK-facing gambling services for some time, the company was also forced to pay a £740,000 fine. At the time when the UKGC announced the amount of the monetary penalty, the operator still had its licence suspended, with the regulatory body explaining that the company would first need to prove it had implemented the required remedial measures.
- Author
Olivia Cole
