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Pinnacle Sportsbook Exits Ireland and Poland Markets
Online sportsbook Pinnacle (SBR rating A+) has advised SBR that due to regulatory changes they are no longer able to service players based in Ireland and Poland. Residents of either country must request to be paid whatever their closing balance is and will receive winnings for unsettled markets as normal once the events are graded.
Strange news
Pinny has been saying for months that there returning to the uk market
Anyone else fed up with governments sticking their noses in and stopping their citizens spending THEIR money how THEY want to.
And Australia won't be far behind thanks to the ignorance of politicians who've been misled by the vested interests.
Pinnacle is gone from the US...pretty much gone from Europe...what's the point of running a business if they won't make available to anyone.
do you know how long?Originally Posted by Hareeba!
this is honestly disgusting news for me
Don't know how long it will be but the legislation did pass the lower house last week I think it was and by all accounts it will clear the Senate without any trouble.
Just guessing but I would expect that it could be effective from as early as 1 July 2017.
Pinny going underground for the most part again as more money in it
Got to be a lot of good jokes in this.... but I would say Pinny is giving up a lot of money in that Polish market.
my thoughts precisely....doing business with customers who are going undercover from banned countries.....highly questionable business practice/model i'd say.
With a lot of these regulated markets they probably don't have a choice - the cost of regulation/taxation is so high it's just not workable for their low juice model.
true, but other low juice books like 5dimes and bookmaker seem to have no problems with the cost of the regulation.....just find it odd that pinnacle is the only book to withdraw from every single country with a regulated market.
Last edited by slapshot; 02-27-17 at 04:47 PM.
5Dimes, Bookmaker etc. aren't bothered by the cost because they don't seek regulation in the markets Pinnacle has withdrawn from! So they continue to service those markets illegally.
Pinnacle and The Greek comply with the regulatory requirements of each market and withdraw when required.
if that's true....most likely it is....that other low juice books ignore the regulations...that's an even more questionable business model than pinny's undercover business.
both ways of conducting business are shady at best....long term this is not sustainable....are we seeing the death of low juice bookies.....
I'm confused by how Slapshot somehow calls a book obeying regulators shady for doing that
This looks like part of Pinny being legit to me.
I think he's suggesting that despite making out they comply, they nevertheless do knowingly accept some American customers.I'm confused by how Slapshot somehow calls a book obeying regulators shady for doing that
This looks like part of Pinny being legit to me.
my point is that pinny's business model is based on doing business with users who fake their location and residency.
this is obviously not their official standpoint...
pinny is arguably the largest volume bookie out there....but they take no bets from the two biggest markets...the us and europe.
What is your point exactly as your first and third sentences completely contradict each other? (especially when they take plenty from each in your third sentence)
pinnacle often pride themselves for their low commission....their customers are offered low commission because the massive amounts of money pinnacle accepts on their lines.
not a cent of that cash comes from america and europe as pinny officially has exited out these markets......two fairly large markets.....
my point is that pinny actually do take action from america and europe...undercover.....or they wouldn't have that massive volume....got it?
Since regulatory changes are about to happen everywhere on the world sooner or later, Pinacle will be forced to officially exit from every country. So my question is: How will they continue to run business? Will they really go underground for every country on the world?
regulations is on the way in australia and sweden.
primarily it's european countries that implement regulations.
most likely pinny will continue the path they're on....not many more countries left to lose.
large countries like china, russia, india and countries in south america will most likely continue as they are and pinnacle will stay there.
none of these countries has more than 2.5% of the market share.....ie not massive markets.....they will remain pinny's official source of business.
Last edited by slapshot; 03-01-17 at 05:30 PM.
No. They can always apply for registration in most places such as they've supposedly been trying for in the UK. The cost of complyiance however will most probably mean that they wouldn't be able to offer such low juice markets as we've come to expect.
uk is different though from the other countries as it's such a large market....the other countries they left or will leave will remain gone as it's not worth it....i believe...
Pinnacle is huge in the Asian markets and it has been a real driving focus for their business for several years. The underground stuff got some of the owners busted by the US Feds and they luckily pretty much skated on it. I'm sure if u have some big bucks they'll take your action, but not so simple these days.
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