EveryMatrix Suspended, Quits The UK White Label Market
EveryMatrix Software Limited steps out of the UK White Label Market following the suspension of its operating licence (039383-R-319384-021) by the Gambling Commission, while a review under s116 of the Gambling Act is instigated.
EveryMatrix Software Ltd is a UK casino operator based in London and headquartered in St. Julian’s in Malta. The company has been active since 2008 and has managed to achieve massive success in less than a decade, opening additional offices in China, Ukraine, Norway and Armenia.
As a software provider, EveryMatrix’s product line is based around a solution for online casino operators, which allows them to integrate a sportsbook. The company also offers additional products such as an advanced payment processing system which is EU-compliant, as well as a casino aggregation system. Also, as part of its activities, EveryMatrix obtains casino operating licences for its casino clients to operate in different countries. As such, the company holds a licence in several jurisdictions including Malta, the UK, Denmark, Curacao and Romania.
However, the UK Gambling Commission has just announced its decision to suspend EveryMatrix’s UK licence while it is under review by the regulatory authority. Read on to find out more about the consequences of this decision.
Why Did the Company Receive an Immediate Suspension?
Under section 118(2) of the Gambling Act 2005, the Gambling Commission’s decision to suspend EveryMatrix’s operating licence means that they will no longer be able to offer remote services for betting on real events, except pool betting and virtual events betting. Moreover, the company will not be able to operate a remote casino anymore. The Gambling Commission did not suspend activities such as installing, supplying, creating, and changing gambling software.
Which Online Casinos Were Impacted?
Several online casinos in the UK had their activities suspended as a result. Such casinos include Dragonara Online, Fantasino, Mr.Win, WestCasino, Play Frank and PWR.Bet.
The suspension has been in place as of September 5 when the original announcement was issued. The Commission immediately issued the instructions regarding ante-post bets that were placed right before the suspension put into force. They required EveryMatrix to provide easy access for their customers to withdraw their funds effortlessly. If you are a player at one of these casinos, contact email@example.com for assistance.
EveryMatrix Responded to the Suspension
The company immediately issued an outline including actions which aim to address all the concerns that the Commission raised, with a particular focus on customer interactions. The company officials added that their licence would remain suspended until the company can show proof of total compliance with the regulatory requirements imposed by the UKGC.
According to their official statement, EveryMatrix sees this suspension as a chance to focus on the procedures related to compliance and further improve and strengthen them. Moreover, the company added that they were taking the UKGC concerns seriously, having already taken quick actions to address them.
What Happens Next?
At the time of the announcement, the company stated to be working towards meeting the requirements posed by the Gambling Commission and get their full licence back as soon as possible.
However, EveryMatrix has later announced on September 23rd that it will renounce to its operating licensing activities in the UK and will place their focus in that market solely on their B2B operations. The reason behind this strategy change has been further explained in a statement where EveryMatrix chief executive Ebbe Groes stated that the suspension has ‘irreparably damaged [their white label business], despite its best efforts to swiftly prove the ability to operate in a safe, responsible, and compliant manner.’