Pinnacle Sports and Irelands new online betting tax

[Dizzy]

Both myself and a friend have tried to email Pinnacle sports for more information about this topic now but neither of us can seem to get a straight answer. We keep getting some copy and pasted nonsense about different governments and gambling laws so we were hoping that someone on here might have some more information.

Does anyone know if Pinnacle Sports will still accept customers from Republic of Ireland when the new online betting tax is introduced by the Irish government in a few weeks time? As far as I know the regulation will require anybody taking bets from Irish customers to pay one percent tax on turnover.

Do Pinnacle require a license to accept bets from Irish customers and if so have they applied for one yet?

Any information would be greatly appreciated as Pinnacles customer service are being very evasive on the issue.

PS: I know all about agents and brokers who can fill the void if the worst happens so I am not looking for information on those services.

Regards

[jjgold]

never heard of it

Gambling regs getting too tight..Countries are broke so looking to tax

[chachi]

JJ ... you realize you live in one of THE MOST restrictive jurisdictions on the planet with regards to wagering, right? And, not too long ago you were spouting off about your being the all-encompassing font of knowledge about European wagering

Here's a reference to the impending change,

http://www.pokernews.com/news/2015/03/new-online-gambling-tax-set-to-be-signed-into-irish-law-20874.htm

[Optional]

Ireland have spent years trying to get laws passed. It's not even enacted as yet so no wonder Pinny don't know what they will do for sure.

Last I read Ireland planned to offer a scheme to grandfather in any books already regulated in other jurisdictions.

[chachi]

Optional - Pinny is not regulated in a 'recognized' jurisdiction from an EU perspective, nor are any CR/Curacao/etc type books

[PassTheDutchie]

Optional - Pinny is not regulated in a 'recognized' jurisdiction from an EU perspective, nor are any CR/Curacao/etc type books

I have heard it won't be long before they are though.

as to Ireland, in general pinnacle will make an assessment of how much business is generated from a country, the cost and energy involved to get licensed and the taxes it will have to pay. if it's not worth it they will withdraw after the first ceast and desist letter, at least when it comes from an eu country.

i don't think your chances are that good, but what do I know.

[JayZ]

Bookies will need an Irish licence to take bets from anyone resident in the Republic of Ireland. Exchanges pay 15% of profits, bookies 1% of stakes, the latter mirroring Irish bricks and mortar shops. The whole regulation of bookmaking in Ireland largely comes from legislation enacted in 1931, and things have changed a bit since then.

[chachi]

Bookies will need an Irish licence to take bets from anyone resident in the Republic of Ireland. Exchanges pay 15% of profits, bookies 1% of stakes, the latter mirroring Irish bricks and mortar shops. The whole regulation of bookmaking in Ireland largely comes from legislation enacted in 1931, and things have changed a bit since then.

Indeed, the other day you could have fired up your meth pipe with a losing betting slip, free of repercussions

[xtrader]

Bookies will need an Irish licence to take bets from anyone resident in the Republic of Ireland. Exchanges pay 15% of profits, bookies 1% of stakes, the latter mirroring Irish bricks and mortar shops. The whole regulation of bookmaking in Ireland largely comes from legislation enacted in 1931, and things have changed a bit since then.

1% isn't bad for the European books but for Pinnace it's a killer. Terms are better for exchanges . Not a chance for Pinnacle to stay.

[Scorpion]

is the new owner irish?

[jjgold]

It seems Pinnacle getting squeezed more and more
I pay attention to the juice there and it has widened over the last few years on many sports

[Dizzy]

Didn't Antigua have a big dispute with the US a few years back because of measures attached to the port security law that screwed up US players sending funds to some online betting sites? As far as I know the US gov have not complied with the WTO ruling which was in Antigua's favor.

Why don't the likes of Pinnacle and SBO and the other big books just set up shop in Antigua and take Bitcoin deposits from players everywhere? These sort of books are already trusted brand names in the sports betting industry so most players would have no problem trusting them with funds.

Countries are broke at the moment and they do see gambling outfits as cash cows that they can just put the squeeze on whenever they like. What annoys me is that they do it under the guise of protecting the players (nanny state) when in reality they couldn't give a penetrate about anything else except the money.

In my opinion if I earn my money and pay tax on it then I should be able to use it as I please and if that means choosing to bet on sports then that should be my choice and not the governments.

Thankfully Bitcoin books look like they are going to return that choice to me and screw the incompetent Irish government

[Hareeba!]

Didn't Antigua have a big dispute with the US a few years back because of measures attached to the port security law that screwed up US players sending funds to some online betting sites? As far as I know the US gov have not complied with the WTO ruling which was in Antigua's favor.

Why don't the likes of Pinnacle and SBO and the other big books just set up shop in Antigua and take Bitcoin deposits from players everywhere? These sort of books are already trusted brand names in the sports betting industry so most players would have no problem trusting them with funds.

Countries are broke at the moment and they do see gambling outfits as cash cows that they can just put the squeeze on whenever they like. What annoys me is that they do it under the guise of protecting the players (nanny state) when in reality they couldn't give a penetrate about anything else except the money.

In my opinion if I earn my money and pay tax on it then I should be able to use it as I please and if that means choosing to bet on sports then that should be my choice and not the governments.

Thankfully Bitcoin books look like they are going to return that choice to me and screw the incompetent Irish government

Quite simply, if the owners and operators of a bookmaker taking bets from players in the US step foot in the US they will soon find themselves in prison. The owners of Pinnacle, SBO, Matchbook, The Greek and others don't really fancy that prospect.

[Dizzy]

I am surprised any of them care. I would rather make a ton of money and have customers from any country in the world that I choose. I would never need to step foot in the US.

[Hareeba!]

I am surprised any of them care. I would rather make a ton of money and have customers from any country in the world that I choose. I would never need to step foot in the US.

But some of the owners and their families are US residents.