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

Originally Posted by Bill Dozer

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)

How about the results of this meeting please?

this is the kind of behavior you would expect from a book that is desperate for money and is looking to keep your money for as long as possible and hopes you lose it while trying to complete the rollover. 2X rollover on the initial deposit is the max I would accept anything more is simply too much

I never withdraw more than 1 time a month---people that withdraw constantly bog down the system.

Love how they just charged the rules and didn't inform anyone about it until they tried to withdraw. That's very shady

all i have to say is

GOODBYE PINNACLE

HELLO MATCHBOOK

Originally Posted by NavsPicks

The cost on a 5k deposit withdrawing 45k would be 3%. Which is $150.. (Initial deposit) id rather pay $150 and have it sent from pinnacle than pay $15 and have it sent from bodog or matchbook . But that's just me..

Matchbook is fully licensed to process wagers by the Alderney Gambling Control Commission (AGCC).

Pinnacle is licensed to conduct online gaming operations by the Government of Curacao.

Matchbook sounds more safe to me but I might be wrong.

Originally Posted by capone1899

Love how they just charged the rules and didn't inform anyone about it until they tried to withdraw. That's very shady

The way they did it was very unprofessional.

And they even claim it is industry standard which is absolute bullcrap.

They have articles advising bettors not to be fooled by bookmaker's bonuses because they have a rollover requirement, and now they apply that rollover requirement on your own money, their "bonus" being their reduced juice and high limits.

Originally Posted by frog2

Would you rather the books went from 102% to 105% so that people who wanted to desposit and then withdraw cash on a daily basis could do so for free? Or would you rather just pay for the services you actually want to use?

This is essentially it. If you want big limits and low margins, you'll have to compromise somewhere. Direct your anger at the payment processors rather than the bookmaker that wants to make a profit. Slapping the fee on folk retrospectively was shitty, but they've put that right. People depositing 10k, placing one bet, bailing out, then rinsing and repeating were costing too much. If you're not doing this, nothing to worry about.

For Hareeba! and others saying that Betfair, SBO and Matchbook are superior...there's an obvious answer.

Originally Posted by allin1

The way they did it was very unprofessional.

And they even claim it is industry standard which is absolute bullcrap.

They have articles advising bettors not to be fooled by bookmaker's bonuses because they have a rollover requirement, and now they apply that rollover requirement on your own money, their "bonus" being their reduced juice and high limits.

Think of it as a 3% deposit fee to play reduced juice. If you complete the 5 time rollover they give you your deposit fee back. If you don't your still welcome to pull your money at anytime. Until someone comes out with reduced juice and limits the way pinnacle does, this is the only option for people looking for that. I've paid deposit fees 100 times at a ton of different books, be it them or the method in which I am sending either way this is just another deposit fee with a chance of getting it back. Your money is never tied in like a bonus where you have zero option to pull until the rollover is done, here you can still pull whenever you want.

Originally Posted by dealer wins

When I am betting my own money, without any bonuses etc, I want to be able to withdraw it when I want, and receive 100% of it.

I probably roll over my deposits over 20 times on average, but if I go on a winning streak or have one sizeable bet at long odds win, putting most of my roll in Pinnacle, then I need to be able to withdraw that immediately and without charge.

This new rule means I may not be able to do that, hence I cannot continue to use Pinnacle.

If you deposit $100 and win $50,000 on a future bet, you have a balance of $50,100. If you want the $50,000, you can take it then. If you dont want to rollover the $100 four more time and want all out ...It will cost you $3 to withdraw $50,100.

I think what will happen is Pinnacle will see a small % of people be more conscious of their deposit amount in relation to their betting limits. So if you have $10,000 in Skrill, instead of moving all that to Pinnacle for a weekend of betting, theyll see some folks move in their bet unit amount of say $1000 bet it, then another $1000 bet that and so fourth.

Like any good business, theyll monitor it and see if its good for all and does whats intended.

What high limits. Early tennis a dime. Match time today 2500. Maybe this is high to some, but not me. Golf match ups a dime.

Originally Posted by Bill Dozer

Like any good business, theyll monitor it and see if its good for all and does whats intended.

Please describe in detail what you mean when you say "does whats intended".

I also want to know the results of your meeting with Pinnacle yesterday. Many on this thread are waiting for this information - thank you.

Just withdrawn $20k. Hadn't rolled the deposit 5 times, but did deposit before the rule change. Paid within 3 minutes. So looks like they're not trying it on retrospectively any more.

Originally Posted by ChewFu

Just withdrawn $20k. Hadn't rolled the deposit 5 times, but did deposit before the rule change. Paid within 3 minutes. So looks like they're not trying it on retrospectively any more.

It is not to be applied before April 1.

Bill, I'm aware of that, but I was providing confirmation that one of the initial issues is no longer an issue.

Now for the results of the meeting and an answer to sbrhedge's questions...?