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No, that's not it. None of the major owners is still actively involved in day to day operations.
Even if, on a personal level, they wanted or needed more money, selling their shares would be a much better option than trying to squeeze some extra money out of their business. You are talking about a business that probably cut away between 60 and 80% of their business when they choose to leave the us market. They paid every player they owed and probably got screwed by a lot of credit players that owed them money. If anything they have shown to have enough financial means.
Coming back to the why. It is my opinion that pinnacle has become more dependent on their post up business after leaving the USA market. Before they were making most of their money in the credit business. At that time the processing fees on post up just did not receive attention from management.
now post up has become a bigger piece of their business the processing fees has become focus of management.
i do feel that the introduction of the rule was sloppy and badly communicated. They could have avoided a lot of trouble if they had done a better job in the announcement.
but then again, their strong point have been manage risk, not communication.Comment -
Men lets see how this plays out, maybe Pinny makes some adjustments down the road.Comment -
Pretty clear that pinnacle had too many guys depositing and withdrawing funds while only rolling over their funds once. How can pinny make any money with their low margins off these guys with the costs incurred by the e-wallets?Comment -
moron good post...they still want to give customer great lines and no limiting therefore changing policy a little on withdrawals. Minor issue for all positives book offers.Comment -
request payout at 11:00 am.
processed and confirmed at 11:05 am.
funds in skrill at 11:15 am
funds in my pocket at 11:16 am. (from atm)
CASE CLOSED.
actually they should be charging more than 3% for this kind of service.Comment -
Geez, no MLB parlays, and now they want my $200 for withdrawalComment -
MLB parlays seem to work fine. Guessing you may be trying to parlay same game in MLB. Home team/under, away team/over?Comment -
love the hidden spam in some of the posts here.Comment -
It's not that bad. If you read rule #30 you can still withdraw your funds any time you want, they just charge a 3% processing fee if you don't first complete a 5x rollover. This is to protect them from excessive transaction fees by arbers that shift money around a lot.
Don't see what the big deal is here.Comment -
suggest you read what they did to Real1992
I have no sympathy for the arbers who deposit, make one bet and withdraw but Pinnacle has itself to blame for openly encouraging arb business and now they hit the genuine players when all they needed to do was slug the arbuses with the fee.Last edited by Hareeba!; 04-15-14, 04:47 PM.Comment -
arbers generally lose at pinnie side over the long run so it wont affect that much . arbers are also good at money management so unlikely to get stuck with all their funds in pinnieComment -
Arbs don't lose at Pinny long run like you think..it use to be that way but lines have gotten tighter and other books not dealing weak numbers as much. If Pinny lean won nobody would work.Comment -
i dont think JJComment -
Try playing the lean with pinnacle and see how well you will do
I had good liens and got wiped outComment -
lets be honest all you non Americans will still play there
stop kidding yourslevesComment -
What markets are you talking about?
Not that it surprises me. Leaving the us market reduced their volume on major us sports significantly. Sharp professional betters from USA will find ways to get their action into pinnacle, but the decreased overal volume on these sports probably resulted in lower limits (on us sports) for the sharps. Eventually this will mean they will find other places to play and as a result their action becomes less sharp as they will play it somewhere else first.
As to the soccer market, pinnacle is not yet setting the lines in the market.
Don't get me wrong, there are some smart people running the lines at P and they are catching up fast on the soccer market, but I have a feeling their us sports lines are not as good as they used to be.Comment -
If u can't beat the books, then don't even bother about 3% withdrawal fee.
Let's say u deposit 20k in and win at +110, 3% is nothing and u still win.
The reason of pinnacle losing US players is more legit to charge this fee.
People who beat the books are rare. They are earning big bucks over u fishes.Comment -
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Pass the Duchy you are correct their lines are overrated as far sharpness
People think that pinnacle lean works long-term and I don't think it does anymore
Hareeba just keep your money in the until you rollover as there is no need to keep withdrawing money from there if you have a solid bankrollComment -
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Correct. I've managed very well with keeping it to one withdrawal per month. I would probably average a couple of bets per day at Pinnacle. But at times I've had bad runs and made a few deposits in a month at times.
However, as pointed out several times, the danger is that if one loses a significant part of a deposit, Real1992s experience suggests that you are still required to turnover what you've lost another 4 times before you are able to make a free withdrawal. Still waiting for Pinnacle or SBR to address that issue.
Yes, perhaps I can manage that issue by tying up money at Pinnacle for a long time but it doesn't invalidate my response to FlyingKite.Last edited by Hareeba!; 04-23-14, 10:48 AM.Comment -
I haven't seen anything new on the Real1992 issue. Could it be just a misunderstanding? If I deposit 1000 and lose 950, 50 left and deposit another 1000 I should be required to rollover 1050 5 times. Anything more and it would be outrageous and ridiculous.
I don't like the way they quietly implemented this, and I don't rate them as I used to, but I still think very few people will be really affected by this new rule and it won't affect their business.
People need pinnacle. Matchbook is great but their range of markets is not enough for many. SBO is only good for some markets, and paying 60% of your winnings to betfair doesn't make sense.Comment -
To rollover once of your capital is hard, let alone 5 times. Unless u only bet all in once and win once.
The 3% of winnings will go to them if u beat them. But 100% will go to them if u try to roll 5 times.
I don't think this rule affect when the punter is a winner.
Arbers will die hard with this rule of course but its still better off doing a decent business with your huge capital than trying to arb.
Last edited by FlyingKite; 04-23-14, 02:22 PM.Comment -
yeah its true your local agency can provide similar odds u should bet physically rather than go online. Cash is better than credit and discipline will be better.
You probably shouldn't be playing on pinbet by thin margins when they charge 3% now, there are some other options should be better. Unless u do really found out Pin has huge edge on odds to cover.Last edited by FlyingKite; 04-23-14, 02:22 PM.Comment -
[QUOTE=FlyingKite;21706913]
The 3% of winnings will go to them if u beat them. /QUOTE]
Incorrect.
Your winnings are exempt from the 3% fee.
But you'll pay it on the part of your remaining deposit if you haven't wagered your whole deposit 5 times.Comment -
No. It's disappointing that we haven't got clarification of the Real1992 issue. Until it is satisfactorily resolved I won't be making any further deposits at Pinnacle.
I would think the in and out arbers which Pinnacle says they welcome will be very significantly affected by this rule. But that won't impact Pinnacle's business.
I certainly don't pay 60% of winnings to Betfair. More like 3%. And only 0.75% on Asian handicaps.Comment -
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Bwin, Gamebookers and Partybets already have 3% fee for all withdrawal methods no matter if you win or lose (I think).Last edited by Djurgården; 04-23-14, 02:49 PM.Comment -
Hareeba you should move to Las Vegas and just keep Aussie banking and an Aussie address and using VPN from Vegas to do your online stuffComment
