TROUBLED betting exchange Matchbook will continue its sponsorship of the Grade 1 novice chase at Limerick this year.

The Cork-based company has been a strong supporter of Irish racing since being launched in 2016. As well as the Limerick deal, the company has been a major sponsor at Cork, where it has naming rights on the new sprint track, and the company has sponsored races in Naas.

However, earlier this month the British Gambling Commission suspended the operating licence of Matchbook’s parent company, Triplebet, following a two-year review of the business.

In a statement on the Matchbook site, the operator said that it would be “briefly closed” for all betting and casino activity in the UK. However, it added, it would continue to settle all open positions, and customers would have access to their account to withdraw funds.

Matchbook, whose CEO is Corkman Mark Brosnan, remains open for business to customers outside Britain, including Ireland.

In response to a query from The Irish Field, a Triplebet spokesperson said yesterday: “Triplebet takes its responsibility as a betting and gaming operator very seriously, and accepts the UKGC panel’s findings following a two-year review. Triplebet believes that 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 that it is committed to achieving any standard of compliance required of it.

“Last year Triplebet engaged a third-party compliance specialist in order to elevate its standard of compliance beyond what is required by the UKGC. 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.”

Matchbook is expected to be cleared by the British authority within weeks but possibly not in time for the Cheltenham Festival.

The spokesperson also confirmed that the Limerick sponsorship would continue in 2020 but did not offer a comment on its sponsorships at Cork Racecourse or other Irish tracks.

Last month Matchbook sponsored the Grade 1 Clarence House Chase at Ascot won by Defi Du Seuil.

The company was launched in 2016 and aims to compete with betting exchange market leaders Betfair and Betdaq. It has sponsored a large number of races at British racecourses, including Cheltenham, Goodwood, York, Sandown and Kempton.