Tuesday July 22,2014 : ONLINE BETTING EXCHANGE TO DEPART CANADIAN MARKET
Matchbox owners decide to "regrettably" exit following review of operations.
The management of online betting exchange Matchbox has communicated with Canadian customers, advising them that following an extensive business review of operations it has been decided that the company will exit the Canadian market.
In an email to Canadian punters, the management of parent company Triplebet Limited advised:
"The Management of Triplebet Limited, the owners and operators of Matchbook, have recently undertaken a comprehensive review of all operations and have made the regrettable decision to cease operations in your jurisdiction effective as of 23 July 2014.
"Matchbook shall no longer accept wagers or any other gaming activity from your jurisdiction, and all existing accounts shall be closed.
"Any bets that were made prior to 23 July 2014 shall remain ‘open' and winnings will be settled as normal with funds available for withdrawal as soon as the market has been completed.
"Please ensure that you have withdrawn any funds standing in your account by 22 August 2014; if you do not withdraw the funds yourself then where possible we shall make the withdrawal on your behalf to your bank account or payment wallet. If we do not have any payment details for you on record, then we cannot guarantee that you will be able to receive your funds.
"If you have moved country since you set up your account with Matchbook, you may be able to register a new account with Matchbook. You should register a new account with Matchbook in the usual way, and shall be required to provide supporting documentation."
Although reasons for the decision are not given, it is believed that the exit is associated with regulatory concerns.