Pinnaclesports withdrawal fees....are you kidding me ?

[Krashman]

I agree that this rule is terrible, and they increased to 5 times without telling anyone. I rememeber when I opened my account it was only 1x.

I suggest you to bet on huge favorites (like tennis 1round) to complete the rollover with little risk.

New Pinnacle new rule coming soon: 5x rollover calculated using the lesser of risk or win amount...

[Krashman]

They are in trouble now.

100% deposit bonuses next?

[Hareeba!]

Folks,
We have a meeting with Pinnacle mgt tomorrow morning for clarification on new deposit rules. We understand a cleaner outline and FAQ will be published then too.

What I can see from their new rules...

• It does not apply unless your deposit was made after the start of this month.

I made a deposit on the weekend, unaware of the new rule because we weren't advised of it. I strongly object to it applying to that deposit.

• If you lose the deposit, it does not have to be rolled over. Deposit $100 today and lose it, then deposit $100, wager it and win, you only need to roll that 2nd $100 four more times. (If you won $100,000 from the very first bet, you can take that now w/o 3% fee)

But if you deposit $100, lose $90 and deposit another $100, balance $110 you need still to bet $910?

[Brooklyn Dick]

Nice to talk about $100 deposits. But people that want to play deposit 10,000, 20,000 or more and win need to pay 3% on that 10 or 20 K to get it back when they want it. Total BS any way you look at it. What other A book does this with no bonus? Better yet what B or C book does it.

I hope SBR rates them where they belong when this is straightened out.

[Brooklyn Dick]

good point,,if you bet 250 k on the superbolw and win ,you should be able to withdraw your money,

If you bet 250K and win and want it all you will pay 7,500 to get it. 3% of the deposit you made in order to bet it.

[dirtdog52658]

Nice to talk about $100 deposits. But people that want to play deposit 10,000, 20,000 or more and win need to pay 3% on that 10 or 20 K to get it back when they want it. Total BS any way you look at it. What other A book does this with no bonus? Better yet what B or C book does it.

I hope SBR rates them where they belong when this is straightened out.

Bwin and PartyBets both rated B- do this on all e-wallet payouts regardless if you rolled it over 100 times.


Welcome to the future of gambling

[Brooklyn Dick]

Bwin and PartyBets both rated B- do this on all e-wallet payouts regardless if you rolled it over 100 times.


Welcome to the future of gambling

Do you play with them? And know a lot people that do. So lets make Pinnacle a B- book. Good by me.

[Kaabee]

industry standard 5x is so lol. wouldn't be surprised if that were the highest in the entire history of the industry.

[dirtdog52658]

Do you play with them? And know a lot people that do. So lets make Pinnacle a B- book. Good by me.

Yeah I play there. They can rate pinnacle and every other book what ever they want, I don't pay much attention to the ratings as much as the reputation. Theres plenty of D rated books on here that I would put above some B's.

[dealer wins]

Did a 5 figure payout, paid within an hour. So seems like business as usual. 5 time rollover sucks but their upfront about it( they should allow anyone who deposited before the change to payout after 1 time my opinion.), I guess their sick of paying processing fees or are trying to get rid of people who arb for a living and don't have a bankroll to let money sit. For the average guy who will bet every night for a week or 2 only deposit what your going to bet on your first nights games and you should be alright. Its not like there are 100's of reliable options out there.

These are Pinnys bread and butter players, who will most often be betting on the losing side.

They counter the sharps and Pinny want to be careful they dont lose this action!! It will cost them more than 3% believe me!!

[Bill Dozer]

Bwin and PartyBets both rated B- do this on all e-wallet payouts regardless if you rolled it over 100 times.


Welcome to the future of gambling

Unfortunately it may become so. The new tax that the UK is bringing in means anyone who services their people will have to pay a huge piece or not have access to the UK audience. Once this is in place it will become the norm in some other countries. Margins are shrinking. It costs more to move money over borders. Books can not make a profit moving money in and out paying 3% for a single $20,000 bet when their hold is 2% or less.

The eWallets like Skrill need to lower their costs too. You could argue the UK and its neighbors need to chill or they are going to lose all those gaming companies but you'll lose that argument. They dont care or even prefer it. Why let the money leave to a sportsbook based in Israel or on one the islands.

[dealer wins]

Depressing isnt it. 5X rollovers, governments wanting a % even though they have already taxed the money people choose to gamble with.

"Demolition Man" the movie is coming to be a premonition, and I will eat ratburgers along with Silvester Stallone to avoid it!!

[vook]

The rollover 5x deposit is totally ridiculous.
They are Pinnacle Sports not bwin, not bet at home, not expekt, not another tiny bookmaker.
I dont care if they pay fees to ewallets, I am a player I just deposit and place my bets and if I deposit and win I want to be able to withdraw, not to pay 3% fees (!)
5x rollover makes pinnacle useless, if I have 20k and want to bet on bayern or barca tomorrow why should i prefer to bet at Pinnacle instead of sbo or bf? If i bet at pinnacle and win, then i must bet another 80k bet in order to withdraw for free! This is madness.
I dont remember another A+ bookmaker with such a rule!
If they think they pay high fees to ewallets they should make another deal with them, not just to take the most convenient decision and charge the customer.
Odds and payments make a book A+, is Pinnacle there after this rule??

[Hareeba!]

Odds and payments make a book A+, is Pinnacle there after this rule??

NO.

[lecubs28]

this will never become so. american books have to pay higher fees that are worse than skrill/neteller to process cc or p2p. those payouts are free, at least once per month. if the us books need to offer free payouts to get customers, no way other places are going to be able to charge 3%

[Brooklyn Dick]

They can charge what they want and we can play where we want.

[sbavi]

5x rollover is definitely too much.But,i can see why they are starting to do this.Skrill charges 3% for non European merchants while for European merchants it's 2%.

So,Pinnacle actually loses 3% on every deposit you make and with their lines i guess they get a hard deal in the end.It's tough for both the users and for Pinnacle.They should probably make it a 2x or 3x rollover at max.

[allin1]

industry standard 5x is so lol. wouldn't be surprised if that were the highest in the entire history of the industry.

I won 25$ from thegreek by playing their NHL competition once.

4x rollover requirement.

less than pinny and it wasn't even my money.

5x on your own deposit seems quite strange considering there are probably a lot of people who make big deposits at pinny, not peanuts

[dealer wins]

5x rollover is definitely too much.But,i can see why they are starting to do this.Skrill charges 3% for non European merchants while for European merchants it's 2%.

So,Pinnacle actually loses 3% on every deposit you make and with their lines i guess they get a hard deal in the end.It's tough for both the users and for Pinnacle.They should probably make it a 2x or 3x rollover at max.

With their limit of 1 free withdrawal a month, that would stop people abusing the system, and they could always shut accounts of people abusing the system.

As much as I love Pinny I dont want a winning £3000 bet, knowing I am committed to wagering £12000 more to withdraw.

And it also makes me nervous that they are having financial issues, so for me its no more deposits and when my balance runs out thats it.

[relaaxx]

too high - doesn't seem fair at all to set fees so high --------- wish i could play there.

[timbaland99]

Folks,
We have a meeting with Pinnacle mgt tomorrow morning for clarification on new deposit rules. We understand a cleaner outline and FAQ will be published then too.

What I can see from their new rules...

• It does not apply unless your deposit was made after the start of this month.

• If you were to deposit $100 and bet $500 there is no 3% fee to withdraw.

• If you deposit $100 and win $10,000 there is no fee to withdraw that $10,000. It's 3% of the deposited $100 ONLY if you didn't bet that original $100 5x for $500 wagered.

• If you lose the deposit, it does not have to be rolled over. Deposit $100 today and lose it, then deposit $100, wager it and win, you only need to roll that 2nd $100 four more times. (If you won $100,000 from the very first bet, you can take that now w/o 3% fee)

Why did Pinnacle sneak this rule into their terms and conditions without informing the customer through email?

One of pinnacle's marketing pitches is that they don't lock your money in with rollover like other books who offer bonuses do.

how much of a bonus do I get if I deposit with Pinny now if i have to roll over 5 times ?

[gui_m_p]

They made a statemente about the changes:

[noyb]

i wasn't aware so many of you were so frequently depositing & withdrawing.. amazing. makes the reasoning why pinny is doing this in the first place a whole lot more obvious.

[OnkelChris]

Well thats what I thought. Abusing of the system from a minority of customers. Guess who they are? Those who yelling the most about the rule changing. Thanks guys

[dealer wins]

Some a small number of customers "Abuse" their withdrawal policy (Im not sure how you can abuse a policy that only allows 1 withdrawal per month after betting through your entire deposit as a minimum), so rather than close the small number of abuser's accounts, they impose D rated books terms on everyone.

Well I have made my last ever deposit with them!!

[Brooklyn Dick]

Can't people understand that this has nothing to do with abuse of policy, cost of withdrawals or anything like that. It is simply put in place for people to not take their money out of Pinnacle. Looks like a good case of the shorts.

[real1992]

So my questions for this clowns is : Why dont you put this kind of rollover only for members that are making more than 1 withdrawal in month so everyone that makes only 1 free withdrawal doesnt have to make this kind of 5x deposit rollovers ? This will protect loyal customers and kick the players that keep abusing....

[biggie12]

i would of had to bet 40k to get my 8k out had kentucky won the college game.

might have to consider placing more action back on matchbook

[Hareeba!]

Well thats what I thought. Abusing of the system from a minority of customers. Guess who they are? Those who yelling the most about the rule changing. Thanks guys

I would be guilty of yelling about it as much as anyone but I'm certainly not guilty of the abuse charge.

I've NEVER paid a fee for a withdrawal!

Can you guess what that means smartarse?

I've never made more than one withdrawal in a calendar month.

[Brooklyn Dick]

How about the result of the meeting this morning with Dozer and Pinnacle to "straighten" this out.

[Hareeba!]

They made a statemente about the changes:

Aren't April Fools' jokes supposed to be revealed as such on the day?

[Hareeba!]

The full story is that i deposited 6000euros,lost some bets and was left with 700 euros,deposited 6000euros again and placed a 4.7k bet on a soccer ah, wanted to bet something on mlb and deposited another 4k. Had in pending bets 12k and my balance went to 20 winning all pending bets.now cant withdraw without betting another 68.000 euros. Clearly they calculate to required rollover even the 6k deposit that was almost all lost ( 5.2k exactly ).
Thats all and i can even post history here.... Shame for pinnacle...

This email response I received from Pinnacle appears to contradict this story?

Dear Sir,

Following your example, if you make a deposit of $5,000, lose $4,900 and then deposit $5,000, you will be required to rollover 5 times the amount of $5,100 (i.e. $25,500). If a deposit is wagered and lost it does not need to be rolled over further.

[dealer wins]

I am hoping that SBR downgrade Pinnacle to C+ at best, considering the onerous deposit terms that Pinnacle themselves ridiculed themselves recently!!

If not then SBR are not independent but are bought and paid for!!!!

[Hareeba!]

Link Not Working - Removed-)

[RapaQues]

My experience today ( first time it happened ):

Dear Pinnacle Sports Client,
Your Skrill deposit has been accepted and the funds added to your account.

Amount: 3552 EUR
Date: 4/9/2014 10:38:20 AM

I went all in on tennis ( Querrey vs Hewitt ) and won so i requested a 6k euros withdrawal as i don't like to have a lot on the account due to poor bankroll management i tend to do if i don't withdraw often... Would still leave close to 1k euros to bet with so i went ahead with the withdrawal request and recieved that same email:

Dear Pinnacle Sports Client,
Your withdrawal request was declined. The reason we declined your withdrawal is you made a deposit and are now requesting a withdrawal without rolling (wagering) your deposit the minimum stated on our site, (five times).

Was shocked at reading that and was gonna right them a pissed off email when home but would probably take the 3% fee, however, once home and just a little over 1 hour after initially declining my withdrawal:

I assume they getting so much hate over this that they are changing their minds ? It's not like i'm losing with them and so they had mercy.

Good thing if so as the 5x rollover is ridiculous.

Edit: my email to them to try and clarify this:

Hello,

Yes, i have a question regarding my withdrawal.


You initially declined it saying i had to rollover my deposit 5 times... Recently was only 1 time and you take proud at saying in your website that you don't give bonus away since they came with so many rollover restrictions and now you are trying to apply those rollover restrictions without giving the bonus ? That's even worse, isn't it ?


I hope the change of mind was because you already recieving enough hate from the ridiculous attempt at implementing that new rule.


So how we standing from this second on ? Since first you declined it and just over an hour later accepted it, future withdrawals i make i have to count with 1x rollover or 5x rollover ? I kind of need to know it.

Waiting for the response now...