Pinnacle Sportsbook releases statement on UK market exit

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Earlier this morning Sportsbook Review reported that online sportsbook Pinnacle Sports (SBR rating A+) confirmed they would exit the UK market ahead of the new UK gambling law which will go into effect October 1. Players residing in Great Britain — which includes England, Scotland, Wales, and North Ireland — should begin the process of withdrawing their balances.

Bets placed up to 30 September 2014 will be honored.

A statement regarding closure of British player accounts

Due to imminent changes to British gambling licensing regulations, Pinnacle Sports will after September 30th, 2014, be unable to offer our services to any players resident in Great Britain.
This statement is intended to provide clarity on the implications for existing British players:
What is the change to British gambling regulations?

Amendments to the Gambling (Licensing and Advertising) Act come into force on October 1st, 2014 requiring all companies that advertise or provide gambling services to British residents to obtain a licence from the British Gambling Commission.
I am from Great Britain but resident elsewhere. Can I still bet?

The new restriction is specific only to players whose account details indicate they are resident in Great Britain.
What does Great Britain include?

Great Britain includes England, Scotland, Wales and Northern Ireland.
I am a British account holder. What will happen? What do I need to do?

All your account options other than withdrawal will be blocked after 11.59pm (BST*) September 30th, 2014.

Any of your bets placed up to and including 11.59pm (BST*) September 30th, 2014 will be honoured.

Funds remaining in your Pinnacle Sports account may be withdrawn at any time free of charge. Accounts that withdraw their funds prior to September 30th, 2014 will be disabled from making further deposits.
Can I keep betting up to September 30th, 2014?

Yes. Any bets placed by 11.59 (BST*) September 30th, 2014 will be honoured.

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