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MMA Wagering UnderGround >> pinnacle leaving


1/11/07 5:24 AM
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bsktrap
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Edited: 11-Jan-07
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1/11/07 5:27 AM
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bsktrap
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Edited: 11-Jan-07
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not doing business in north america anymore. from their site: Effective Immediately... "After careful consideration, Pinnacle Sports have chosen to voluntarily exit the U.S. market. Accordingly, wagers will no longer be accepted from clients within the U.S. as of Thursday, January 11, 2007. Those clients who are affected will be required to withdraw their balances using the Cashier of their account. We assure all our clients your balances are available and Pinnacle will continue providing our international clients our same great value. " I guess all of their assurances over the last few months were bullshit. What really sucks is that I have a ton of futures thast I will have to wait months to be decided. They won't let me withdraw the wagers even though they want to close my account. Fucking scumbags. no warning of this either.
1/11/07 12:08 PM
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JonnySak
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Edited: 11-Jan-07
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I assume they will still take wagers from Americans who are in foriegn countries, right Joey? I play poker just about every weekend in Windsor Ontario, could i still bet from there?
1/11/07 12:53 PM
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tenchu
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Edited: 11-Jan-07
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What about in Canada?
1/11/07 3:21 PM
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Oddessa
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Edited: 11-Jan-07
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JoeyOddessa.com

Allotta of people woke up this morning with 6 + figure incomes gone.  Its understandable that people are going to be unhappy.  Does anyone think that Pinnacle   wants  to close up to 60% of their client base?  Obviously they do not have a choice.

Players should be relived  that  they are paying the players and not rolling the dice with the Justice Department..   If they keep taking USA wagers and get shut down and assetts seized, then you have a BetonSports scenario where the players could ultimately  get stiffed and the US Government turns their back on the players.

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After careful consideration, Pinnacle Sports have chosen to voluntarily exit the U.S. market. Accordingly, wagers will no longer be accepted from clients within the U.S. as of Thursday, January 11, 2007.

Those clients who are affected will be required to withdraw their balances using the Cashier of their account. We assure all our clients your balances are available and Pinnacle will continue providing our international clients our same great value.
Of primary concern to some offshore bookmakers conducting business within the US in recent days is that some individuals connected with a major gambling sting two months ago in Queens, New York, may be providing authorities with information about other gambling firm owners.

Two days ago, Heritage Sports - a much smaller "credit based" business out of Costa Rica - announced it too would stop accepting wagers from US citizens. The owner of Heritage was once a partner in PinnacleSports.
PinnacleSports.com is located out of Curacao, however, some of the gambling firm's larger customers were believed to have been caught up in the recent gambling "sting" out of New York City.
During a much publicized gambling sting out of Suffolk County, Long Island three years ago, one of the individuals charged had been telling informants he was "an owner in PinnacleSports". This claim later proved to be false but may also have served to thrust the successful betting operation into the spotlight.
While a ripple effect is widely anticipated among more "credit-oriented" offshore gambling companies, others already see this as an opportunity to capitalize on the situation. Many companies could not compete with Pinnacle Sports' reduced juice (a bettor would only have to lay $104 to win $100 on favorites as opposed to the typical $110 to win $100). For professional sports bettors, nothing came close to what Pinnacle had to offer. Reduced juice takes substantially more from the bottom line than initial signup bonuses and even re-up bonuses

1/11/07 3:22 PM
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Oddessa
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Edited: 11-Jan-07
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JoeyOddessa.com

It's my understanding that they simply will not do anymore biz with USA Customers.  USA IP's , addresses, and banking will be off limits.

 

1/11/07 10:37 PM
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tenchu
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Edited: 11-Jan-07
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What about Canadian customers?
1/11/07 10:43 PM
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Oddessa
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Canada is not USA.......so fine.
1/11/07 10:52 PM
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JonnySak
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Edited: 11-Jan-07 10:51 PM
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so Americans can bet from Canada, if they have a Canadian address and use a non-US bank?
1/11/07 11:05 PM
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Oddessa
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Edited: 11-Jan-07
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JoeyOddessa.com
yup
1/12/07 3:42 PM
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ukgaz
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Edited: 12-Jan-07
Member Since: 02/20/2006
Posts: 97
Thanks for the update Joey. The UK has a history of following america so I hope nothing affects us brits in the future. Sorry that all you USA guys get hit with this crap. Take it you can still bet in the bookies in the high street ( won't be as good as odds as pinnicle though and won't have as much mma)
1/12/07 10:43 PM
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bazzo
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Edited: 12-Jan-07
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fuck the DOJ telling me i can't bet my hard earned dough. i guess the US market goes back to the neighborhood bookies...
1/13/07 9:20 AM
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WoodenPupa
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Edited: 13-Jan-07
Member Since: 07/24/2002
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Aren't there ways to mask a computer IP using a proxy and so forth?
1/13/07 1:28 PM
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Oddessa
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Edited: 13-Jan-07
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JoeyOddessa.com

^

yes.  serious players will work their ways around it.


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