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Pinnaclesports has closed their doors

Discussion in 'Casino Industry Discussion' started by NoMouthToScream, Jan 11, 2007.

    Jan 11, 2007
  1. NoMouthToScream

    NoMouthToScream Experienced Member

    Occupation:
    Employed
    Location:
    USA
    "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."


    :mad:
     
  2. Jan 11, 2007
  3. tennis_balls

    tennis_balls Dormant account

    Occupation:
    fish n chips promoter
    Location:
    Albuquerque, NM
    man that really sucks! Pinny is the ONLY sportsbook I know of that consistently offers lower juice.
     
  4. Jan 11, 2007
  5. REOdeathwagon

    REOdeathwagon Experienced Member

    Occupation:
    cabdriver
    Location:
    arizona
    WOW.

    What timing, with only the six playoff games and the superbowl left in the NFL season. Thats a HUGE handle that Pinny just shot to hell.


    -REOdeathwagon
     
  6. Jan 11, 2007
  7. REOdeathwagon

    REOdeathwagon Experienced Member

    Occupation:
    cabdriver
    Location:
    arizona
    No official announcement at SBR yet. They have removed the Pinnacle links from the forums.

    I would like to hear if jetset has a comment or info. on this.


    REOdeathwagon
     
  8. Jan 11, 2007
  9. jetset

    jetset Ueber Meister CAG

    Occupation:
    Senior Partner, InfoPowa News Service
    Location:
    Earth
    Still no comments, but this story will be updated once we get one:


    VETERAN SPORTS BETTING SITE EXITS U.S. MARKET

    Pinnacle reluctantly pulls the plug....

    Online sports bettors were taken unpleasantly by surprise this week by the news that after almost eight years of US operations, Pinnacle Sports has fallen victim to the Unlawful Internet Gambling Enforcement Act and has decided to exit the American market.

    Splashed across the landing page of the popular sportsbook today (Thursday) was the following message:

    "Effective Immediately...

    "After careful consideration, Pinnacle Sports has 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."

    Pinnacle, which is respected in the sportsbook sector and carries "A" ratings from influential sites like Sportsbook Review, was founded in 1998 and in a short time grew to be one of the leading international sportsbooks, with thousands of satisfied customers from over 100 countries. The operation took pride in its ability to handle high margin operators and give gamblers attractive rates, boasting 105 style pricing 50 percent better value than many of its competitors and depending on a low margin business model with cash rebates.

    Licensed in Curacao, the site handled a large range of sports action with professional skill and efficiency, maintaining sufficient reserve funds in a secure and seperate account to cover deposits and winnings of players.

    Sportsbook Review, which rated Pinnacle Sports an A+, described the operation thus: "There are currently no equals that can compare to Pinnacle Sports in the categories of; promptness of payouts,value of betting lines and email response times. Additionally, Pinnacle Sports customer service department was awarded the Sportsbook Review 2004 Excellence Award. With the addition of Pinnacle Racebook's 7% rebate along with lines of -105, Sportsbook Review recommends that players takeadvantage of a one of a kind sportsbook and play at A+ rated Pinnacle Sports.

    The timing of the exit will be painful for both players and Pinnacle, with only the six play-off games and the Superbowl left in the NFL season.
     
    1 person likes this.
  10. Jan 11, 2007
  11. REOdeathwagon

    REOdeathwagon Experienced Member

    Occupation:
    cabdriver
    Location:
    arizona
    Pinnacle is / was / will always be, the world market leader in this field.
    The A+, that even the other few A+ books stood behind.

    The impact of this is huge, not just for the US bettors, but it will have a trickle doiwn effect on all the world sport markets.

    The timing of the move is most odd thing about it. Right before the meat of the U.S. NFL football playoff season, where the majority of the season handle is wagered - WTF.

    After the super bow,l be prepared for the slow pay / no pay posts from the US facing books that run with the $$ - that are sure to come.


    REOspeedealer
     
  12. Jan 11, 2007
  13. tennis_balls

    tennis_balls Dormant account

    Occupation:
    fish n chips promoter
    Location:
    Albuquerque, NM
    i just got paid by Pinnacle. it took 9 hours from my request. that's A LOT better than I expected so maybe this one will proceed smoothly. I would expect that any BS from the feds would take place well before the Super Bowl.
     

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