Pinnacle exits US market

[Hulu]

What a dark day this is. I don't have to leave myself but what good will Pinnacle be without the action that the US martket brings? They will be just another book now.

[bigloser]

I agree imgv, they left right in the middle of the playoffs, they could have done this after the super bowl at least. That is what makes no sense to me. I think there is a buyout somewhere I feel, that is the only thing I could figure.

Sounds like raids/arrests in the week prior to Superbowl to me. Looks like the government is going for maximum impact.

[SBR_John]

I tend to agree that something happened or is happening.

[bigloser]

They only increased their debit card deposit limits in the last couple of weeks. Sounds like this decision is quite sudden.

[bigboydan]

Something just don't add up at all here.

I can't see them getting raided this soon though. The law doesn't go into effect til roughly July, so how can they enforce anything prior to that.

[moses millsap]

Wake up to this news. Red hot in tennis with Australian Open coming up and lose the best book BY FAR for tennis for US Customers. This is a true nightmare. Most likely moving to another country now as the appeal of Betfair AND Pinnacle is too much for me.

[Dark Horse]

Pinnacle needs to explain this.

And I'm not staying in the US. Final drop.

[moses millsap]

The whole thing pisses me off. Wish Bodog had bought their US Customers, I'd gladly take the 10% they were giving out like when they took Bowman's US players. That might have absorbed the blow a little, now I'm assuming my payout will take quite some time to be processed and I was just thinking how much free money Pinnacle is going to get with US Customers unable to withdraw the cents from their accounts.

[tribet]

Bill are you there?Say something!

[bigloser]

Something just don't add up at all here.

I can't see them getting raided this soon though. The law doesn't go into effect til roughly July, so how can they enforce anything prior to that.

Though the law went into effect on signature. The banks may have a been given a grace period until July but I doubt the books were.

[bigloser]

Could be good for the next month or so as the other books chase the Pinnacle dollars. Looking forward to a few bonuses.

[ttmopp]

I wonder how much money are we talking about when all the US bettors withdraw their money... $10M? $100M?

[Tchocky]

I tried withdrawing my balance via Neteller. Don't see it going through. Tried logging out and logging back in.

[Dark Horse]

We may have to start a thread to see who has been paid by Pinnacle. Could take a while. I always thought it was automated from their side. Apparently not.

[taurus]

I ordered a withdrawal to my neteller account an hour ago. No money there yet.

[moses millsap]

I ordered a withdrawal to my neteller account an hour ago. No money there yet.

My guess is that it is going to take days with the flood of requests they have gotten. And I expect them to pay via check to the larger balances.

[Tchocky]

EOG.com has an interview with one of the guys at Pinnacle. Here is the link:

http://forum.eog.com/news/full-article.aspx?id=16428

[Dark Horse]

I'm also hearing a rumor that the pullout had to do with US-based agents working for Pinnacle. May or may not be true, but allegedly that would have given the US government some leverage.

[bigloser]

Or concern from US based funders

[Sam Odom]

How will my sat & sun bets be affected ? anyone know

[JoshW]

Dark Horse I would think the would have to. Would be crazy to cut off individual bettors, but then keep a highly illegal network of agents in the US. IMO

[JoshW]

Sam - They said all bets already made stand. So if you already have action your bets are still good.

[moses millsap]

How will my sat & sun bets be affected ? anyone know

I think statement from their site said all pending wagers would be honored, but I haven't gone back there since I made a cashout request this morning.

[PeterWellington]

I requested a payout shortly after their announcement and I've already received it (Neteller).

[Sam Odom]

Thanks! lakerfan & owned.

Otherwise I'm shocked!! worse news ever for my future online wagering

[Dark Horse]

Withdrawal request not registered under any of the transaction menus.

F*ck.

[Sam Odom]

a good 30% of my offshore balance is w/pinny

[Hogie2010]

This is terrible news for all US players, I feel for you guys. Without Pinny your bottom line will suffer.

On the bright side Vancouver is a great place to live. Right on the ocean, in the mountains, moderate winters.

[tennis_balls]

looks like their cashier page not functioning now......perhaps too much traffic?

[LVHerbie]

yep... I getting a fatal error through both explorer and netscape when trying to access the cashiers page... grimly ironic...

[LVHerbie]

yep... I getting a fatal error through both explorer and netscape when trying to access the cashiers page... grimly ironic...

Appears to working for me again now... could have to been the traffic...

[nside News]

Pinnacle Sports lost their bank, The Royal Bank of Scotland yesterday because they do too much other business with US.

Pinny will not be back and payouts will take roughly 2 weeks to complete.

no other info is yet available

[Dark Horse]

Two weeks?! For Neteller services that took seconds?

If that's true, let me guess. They took a page from WWTS and the two weeks will become a month, so Pinny can earn some more interest.

[BuddyBear]

I emailed Betjamica a few hours ago and still haven't heard from them and normally it takes 10 minutes to respond tops. Weird things happening today....

[bside]

ttmopp - I saw an article last week in Wall Street Journal estimating US betting at 96 billion a year with only 3 Billion occurring in Vegas. If you say roughly 90 billion off shore than just asign a market share to pinny. I would bet it is pretty high maybe 30%. So you could easily be talking about 30 billion annually in lost wagers to Pinny. Just guess off course...