Triplebet Withdrawing Matchbox Online Betting Exchange from Canadian Gambling Market

Written By Janice Doughtrey

Triplebet Limited, the online company that acquired the Matchbook online betting exchange site in 2011, has announced with regret that as owner and operator of, its management has decided to withdraw the Matchbook operations in Canada, effective July 23, 2014. The Alderney-based parent company of Matchbook has sent a communiqué to Canadian customers about the cessation of all its transactions within the Canadian jurisdiction. Accordingly, the all-inclusive review of the company’s operations has prompted Triplebet management to arrive at such a decision.

The email message stated that starting July 23, all existing Canada-based accounts should be closed. However, wagers placed before the July 23 deadline shall be honored and considered as active until the completion of the respective markets on which bets have been placed. Any winnings arising from such bets shall be processed and become available for withdrawal in the same manner and period normally observed.

The notice further stated, customers must make sure that all funds in their respective Matchbook account are withdrawn by August 22, 2014. Otherwise, Triplebet, which handles all financial transactions of the online betting exchange site, will withdraw and transfer the funds to the bank or ewallet account of customers who were unable to withdraw the funds within the designated period. The online betting company though, made it clear that the assurance applies only to customers with complete records of their payment details.

Customers, presently residing outside of Canada may open a new account with Matchbook in another country or jurisdiction in which Matchbook operates; but under the usual terms, conditions and requirements, which include submitting the necessary documents.

Triplbet’s notification about the pending Matchbook exit from Canada’s sports betting market did not elaborate on the reasons. The general opinion is that the regulatory concerns surrounding the legality of sports betting transactions and activities in Canada are the main reasons. Although a legislative proposal to allow sports betting on single game events in the country was introduced in 2012 in the House of Commons, the related gambling law amendment bill indexed as C-290 has been languishing in the Canadian Senate up to this date.

Accordingly, the proposed amendment has elicited widespread criticisms and strong resistance from both professional and amateur sports leagues, from problem-gambling prevention experts, and from Canadian politicians as well. It is widely believed that rather than risk losing its reputation as a regulation-compliant company, Triplebet has taken proactive steps in avoiding entanglements in sports betting transactions deemed as illegal, in a country that has specific gambling laws against single-game sports betting.

In 2012, Matchbook Betting Exchange, under Triplebet’s new ownership and management, released its multi-lingual and multi-currency platform. The new technology enables British, European, Canadian, and Asian punters to place bets, using the language and currency of their actual location. Triplebet had invested heavily on the product, as the new platform will allow expansion of operations into new gambling markets including those in Europe, Asia, and North America. Back then, the future was bright for the betting exchange agency’s Canada-facing initiatives, since the amendment of the country’s sports betting laws seemed like a certainty.