Matchbook has promised its UK and Irish consumers that all player cash will be kept in a “independent trust structure.”
The precaution was implemented by the online betting exchange in order to maintain its ‘High Protection status,’ which complies with the UK Gambling Commission’s (UKGC) recommendations on consumer funds protection.
In a statement Matchbook detailed: “Customers can rest assured that the funds they hold with Matchbook are safe and secure in the unlikely event that the company would become insolvent.”
Complete transparency on day-to-day operations,
Matchbook, based in Cork, said it has announced the step to provide clients with complete transparency on day-to-day operations, and that it seeks to create a safe environment that meets the highest regulatory standards.
Matchbook reopened in August after the UKGC lifted its licence suspension, citing the firm’s operating entity, Triplebet Ltd, for failing to disclose business contacts and supervise compliance checks with betting syndicates.
Following a full revamp of Matchbook’s compliance and AML reporting systems, the UKGC lifted the operator’s suspension.
Farzad Peyman, CEO of Matchbook, said: “At Matchbook, we have consistently aimed to put the customer front and centre in our ongoing development. Coupled with our exceptional customer service, the addition of this trust structure will add to the already positive and open relationship we have with our community.”