Matchbook has guaranteed its UK and Ireland customers that it will maintain all player funds within an ‘independent trust structure’.
The measure has been adopted by the online betting exchange to secure its ‘High Protection status’, upholding the UK Gambling Commission’s (UKGC) guidance on protecting customer funds.
“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,” Matchbook detailed in its statement.
The Cork-based operator said that it has disclosed the measure to provide customers with full transparency on day-to-day operations, adding that ‘Matchbook strives to provide a safe environment that adheres to the highest regulatory standards’.
Matchbook returned to business last August after its licence suspension was lifted by the UKGC, who had penalised Triplebet Ltd – the firm’s operating company – for a failure to disclose business relationships and monitor compliance checks with betting syndicates.
The UKGC lifted Matchbook’s suspension following a complete overhaul of the operator’s compliance and AML reporting procedures.
Matchbook’s CEO Farzad Peyman 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.”