Operator Triplebet, which runs the Matchbook sports betting exchange, has accepted the Gambling Commission’s temporary suspension of its license in Great Britain, following a two-year review.
Gambling Insider understands Triplebet engaged the services of Alvarez & Marsal to improve compliance last year, with the subsequent recommendations being implemented as part of a phased programme.
The progress report has been shared with the Commission, although Triplebet has accepted the suspension of its license until the final recommendations are put in place.
The suspension is the result of a hearing at the end of January; Triplebet’s review took place in late 2019.
Areas highlighted by the operator's report included the fair treatment of customers, the establishment of a compliance committee, daily screening for players that may be politically exposed people and the establishment of a new responsible gaming algorithm.
A Triplebet spokeperson told Gambling Insider: "Triplebet takes its responsibility as a betting and gaming operator very seriously and accepts the Commission panel’s findings following a two-year review.
"Triplebet believes 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 it is committed to achieving any standard of compliance required of it.
"Last year, Triplebet engaged a third-party compliance specialist to elevate its standard of compliance beyond what is required by the Commission. 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."