Yesterday shocked the betting public with news that Matchbook’s UK license has been suspended by the gambling commission.
The exact reasoning behind this is a little vague at this point time.
However, we’ve put this article together in order to address the key information concerning you, the exchange users.
A short clip explaining what has happened, and the most likely cause for it…
Shocking news for the working man.
How is it that so many users have to complete KYC checks, prove a source of funds and pay a higher commission for consistently winning.
Yet another person is allowed $10,000,000 credit to play with?
Matchbook’s Latest Update:
Despite emailing customers, Matchbook hasn’t made an official statement disclosing the reasons for this suspension.
However, they have said customer funds are safe on Twitter:
Welcome news for Matchbook exchange users.
Although, it’s worth giving a second thought as transparency doesn’t seem to be their strong point at the moment.
Matchbook Funds Are Safe?
According to the Matchbook terms and conditions:
Commission Structure & Credit?
This story has caused a bit of a stir. In recent years Matchbook have been aggressively promoting their exchange with low commission deals, sometimes as low as 0%.
On the other hand, consistent winners have been slapped with a very high commission rate of 60%, applicable after $20,000 profit. However, recent news from the Independent.ie newsreel shows some customers are allowed mind-boggling credit limits.
From an objective point of view, it seems pretty unfair.
It’ll be interesting to see how this story progresses, and if Matchbook revises their commission rates when they return. If they return.
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