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

[Hareeba!]

Can we get SBR to make some enquiries and report back about this?

It is quite unreasonable and going to prove extremely unpopular.

And it appears to have been introduced without any warning to existing customers.

From when did it take effect?

From how far back are lost deposits being included in the calculation of required turnover?

[Gallin]

Yeah, hopefully SBR can get some more information. Very very fishy and unethical behavior if they really require you to rollover losing deposits as reported in the another thread.

[allin1]

Anybody that has been around since the creation of Offshore betting knows the signs of weakness. Remember WSEX? Most trusted book at the time anywhere. First more rules to withdraw, then more fees, then "processor delay", etc. And then Belly Up to all.

It can happen to any book if business is bad.

it could be the case. Matchbook are probably attracting a lot of volume that used to go at Pinnacle.

[allin1]

is this for real?

[virtozo]

is this for real?

http://www.pinnaclesports.com/help/betting-rules

expand general rules and go to rule 30

[Krashman]

The full story is that i deposited 6000euros,lost some bets and was left with 700 euros,deposited 6000euros again and ...

If you had lost the entire balance the rollover would have been set to zero. Then the new rollover would have been 5x the next deposit only.

Not calculated on previously lost balances as some think.

I bumped up against this same rule a few months ago, but it was only 1x rollover then.

So the only thing new is that the rollover on deposits is now 5x.

This still seems excessive.

[Brooklyn Dick]

Excessive? It is outrageous. It is your money with no bonus attached. It will be a cold day in hell when they get me on this one.

[Brooklyn Dick]

Looks like the beginning of the end. Your money, no bonus, and you can't get it when you want it.

[Hareeba!]

If you had lost the entire balance the rollover would have been set to zero. Then the new rollover would have been 5x the next deposit only.

Not calculated on previously lost balances as some think.

I bumped up against this same rule a few months ago, but it was only 1x rollover then.

So the only thing new is that the rollover on deposits is now 5x.

This still seems excessive.

So, if you deposit $5,000 and lose $4,900 and then deposit another $5,000 you still need to turnover $45,100?

[drfunkmaster]

That's crazy. I could potentially end up with a huge six figure sum in a book which doesn't even publish a telephone number.

Does anyone know when these new terms were introduced?

i was gonna open an account here, but since they have no phone number... and with this problem you reported.i am staying far away from this book..

[Hareeba!]

i was gonna open an account here, but since they have no phone number... and with this problem you reported.i am staying far away from this book..

No phone number but they've always been the best in the business in responding to email.

[Brooklyn Dick]

No phone number but they've always been the best in the business in responding to email.

Responding and paying out promptly are two different things. As long as they have this policy they should be downgraded. No AAA book can do this and stay AAA.

[Mikail]

Wow! Shocking behavior by what I've always considered at Top Notch outfit. Completely unacceptable.

[OnkelChris]

What is the bonus you receive for a deposit with the five time rollover?

The CEO of pinnacle must have had a really bad day and was totally overreacting...

[Brooklyn Dick]

What is the bonus you receive for a deposit with the five time rollover?

The CEO of pinnacle must have had a really bad day and was totally overreacting...

You get the middle of a bagel. With a rollover of cream cheese.

[ProlificalD]

*subscribed*

This was likely going to be the next acct I was going to open.

[real1992]

If you had lost the entire balance the rollover would have been set to zero. Then the new rollover would have been 5x the next deposit only.

Not calculated on previously lost balances as some think.

I bumped up against this same rule a few months ago, but it was only 1x rollover then.

So the only thing new is that the rollover on deposits is now 5x.

This still seems excessive.

Need to make clear that i redeposited because i wanted to bet more than 5k on AH and at the moment i had only 700 euros on account. So i stake all the amount that was on my account + new deposit imediatly and left no un-unsed money on account. So at the moment that my bets were in play i had over 12k unsettled bets and 0 euros balance. What r u trying to say is that i shouldnt deposit while i had money on my account and it happend only if second deposit is unnesesary. This was not the case.

[lecubs28]

what a scam. they just want you to bet your money and lose so nobody withdraws anymore

[basket33]

Are you sure that there is no one free withdrawal per calendar month, or we need to rollover 5 times for that also??

[real1992]

what a scam. they just want you to bet your money and lose so nobody withdraws anymore

The funny part is that i am pretty sure neteller charges them 2.3% for deposits (what i have read in other forums) and also pinncale charges affilates for this kind of fees too....So why the heck should the customers pay a 3% fee ? Obviosly rolling over is on their favour by drinking that 3% (aproximately considering all kind of bets/leagues/markets). Considering withdrawal fees is better in my opinion but 3% is huge for big rollers.

[dance1959]

Looks like Pinnacle is in some kind of trouble. 5x RO is utter bs and smell fishy.

[Krashman]

So, if you deposit $5,000 and lose $4,900 and then deposit another $5,000 you still need to turnover $45,100?

That is my understanding.

[Hareeba!]

Are you sure that there is no one free withdrawal per calendar month, or we need to rollover 5 times for that also??

One withdrawal remains free if you have turned over your deposit(s) five times. Otherwise you pay 3% fee on top of any withdrawal fee for a second or subsequent withdrawal it seems.

If this rule stands I've made my last ever deposit at Pinnacle

[real1992]

Are you sure that there is no one free withdrawal per calendar month, or we need to rollover 5 times for that also??

One free withdrawal for players that have meet 5 x deposits rollovers......

[dirtdog52658]

One withdrawal remains free if you have turned over your deposit(s) five times. Otherwise you pay 3% fee on top of any withdrawal fee for a second or subsequent withdrawal it seems.

If this rule stands I've made my last ever deposit at Pinnacle

Yeah, wouldn't say I've mace my last deposit but am definitely weary of carrying anything significant here now. Going to try a decent payout in a couple hours will let you guys know how it goes.

[Krashman]

Dear Pinnacle Sports Client,[/FONT]
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.
Please refer to our General Rule 30 where we include information regarding fees that may apply to customer deposits and withdrawals, including that deposits made to an account without rolling the deposit one time will incur both withdrawal and processing fees.

I read the OP again, it's interesting that Pinnacle contradicts themselves on the amount of rollover required.

[spazzadave]

So you have about 35k in your account - I'm assuming you didn't trade it off on Betfair or another exchange, and unless you were backing an odds on favourite, I can't see any reason for complaining to be honest. Either leave it in there for another 4 bets or take the 3% fee. You clearly have enough cash behind you to be placing large wagers and unless like I said, you backed an odds on favourite, you should be in profit regardless of the fee.

[Brooklyn Dick]

So you have about 35k in your account - I'm assuming you didn't trade it off on Betfair or another exchange, and unless you were backing an odds on favourite, I can't see any reason for complaining to be honest. Either leave it in there for another 4 bets or take the 3% fee. You clearly have enough cash behind you to be placing large wagers and unless like I said, you backed an odds on favourite, you should be in profit regardless of the fee.

You have to be kidding. It is his money, if he wants it he should get it. Not be forced to bet large amounts in order to collect. You must be a rank amateur to even say that.

[marshy88]

So you have about 35k in your account - I'm assuming you didn't trade it off on Betfair or another exchange, and unless you were backing an odds on favourite, I can't see any reason for complaining to be honest. Either leave it in there for another 4 bets or take the 3% fee. You clearly have enough cash behind you to be placing large wagers and unless like I said, you backed an odds on favourite, you should be in profit regardless of the fee.

I'm not sure if you are being serious. But if you are;
I actually have a 46k GBP balance there
It was an odds on favourite. Odds of less than 1.5

You can't see any reason for complaining? Would you fancy being forced to wager over £150,000 at a book without a telephone number? When you've not been told this beforehand? You could also pay the £1000+ fee (approx 1600 USD) to withdraw your winnings if you fancied.

You're nuts.

[Brooklyn Dick]

The silence from the SBR cleanup crew is deafening. I guess for $5,000 a month they can do what they want.

[spazzadave]

You have to be kidding. It is his money, if he wants it he should get it. Not be forced to bet large amounts in order to collect. You must be a rank amateur to even say that.

But he's not being forced to bet though - either leave it in and use it for other bets or take the hit of the fee. If he's using a tipster service then doubt he is trading the results out to lock in profit during the games. I would also find it unlikely that he'll find better prices anywhere else for future matches, unless they're on an exchange, but then he will still be paying a commission for those which won't really change anything.

[Brooklyn Dick]

But he's not being forced to bet though - either leave it in and use it for other bets or take the hit of the fee. If he's using a tipster service then doubt he is trading the results out to lock in profit during the games. I would also find it unlikely that he'll find better prices anywhere else for future matches, unless they're on an exchange, but then he will still be paying a commission for those which won't really change anything.

If he wants his money he is FORCED to bet. And to pay an exorbitant fee for his own money is OK with you? Maybe you want to pay if for him?

Find another forum to post on pal.

[spazzadave]

I'm not sure if you are being serious. But if you are;
I actually have a 46k GBP balance there
It was an odds on favourite. Odds of less than 1.5

You can't see any reason for complaining? Would you fancy being forced to wager over £150,000 at a book without a telephone number? When you've not been told this beforehand? You could also pay the £1000+ fee (approx 1600 USD) to withdraw your winnings if you fancied.

You're nuts.

Maybe I am, however if I was in profit and you're concerned about the new rollover / its causing you concern - would you not pay the fee? Paying £1000+ to get your money and still being in profit will be better than losing everything if you think they're having financial difficulties and may go insolvent. Also were they really the best price? What about the exchanges? Matchbook only 1% commission. There are always plenty of dutching arbs that pinnacle Can be utilised for - then you can hit the rollover without losing anything.

[spazzadave]

If he wants his money he is FORCED to bet. And to pay an exorbitant fee for his own money is OK with you? Maybe you want to pay if for him?

Find another forum to post on pal.

It's not an exorbitant fee though - it looks worse as he posted the actual amount he would have to pay. 3% is nothing in reality, this just looks worse than it actually is. It's all relative. You wouldn't be making it out to be a disgrace if someone had to pay £3 to withdraw £100.
Yourself and the OP were doubting the credibility of pinnacle anyway - so why make an issue over a fee, when you think the book may be in trouble? if the bookie was in trouble the OP could pay £1000 and have his money or leave it, waste time complaining and end up losing it all

[Hareeba!]

It's not an exorbitant fee though - it looks worse as he posted the actual amount he would have to pay. 3% is nothing in reality, this just looks worse than it actually is. It's all relative. You wouldn't be making it out to be a disgrace if someone had to pay £3 to withdraw £100.

Compared to no fee as it was previously and at every other bookie I use it most certainly is exorbitant.
If one were to have known about it in advance of making his deposit I agree there would be no cause to complain.
But what has happened here is Pinnacle have put this new fee into their conditions without telling customers!
Frankly that is something which I feel strongly wouldn't stand up in front of an independent arbiter or a court and I've a good mind to challenge it if I'm slugged with it. In the meantime I won't be making any further deposits to Pinnacle.