Pinnacle Gives Up.....

tanner12oz · #1 01-11-2007, 07:02 AM

Effective Immediately...

After careful consideration, Pinnacle Sports have chosen to voluntarily exit the U.S. market. Accordingly, wagers will no longer be accepted from clients within the U.S. as of Thursday, January 11, 2007.

Those clients who are affected will be required to withdraw their balances using the Cashier of their account. We assure all our clients your balances are available and Pinnacle will continue providing our international clients our same great value.

i withdrew my money......lets see what happens

SentToStud · #2 01-11-2007, 07:04 AM

I just withdrew as well.

Fairly significant news.

Bigsmc · #3 01-11-2007, 07:21 AM

Holy crap, that's huge.

Withdrew this morning.

randallscott35 · #4 01-11-2007, 08:03 AM

Thanks for ruining my day.

This sucks complete as.s.....What a joke Congress was for passing a bill like this to begin with.

Dunbar · #5 01-11-2007, 08:08 AM

Quote:

Originally Posted by SentToStud

I just withdrew as well.

Fairly significant news.

"Fairly significant news" is the understatement of the year! Pinnacle has dominated sportsbook action for the last several years, dwarfing former leaders Olympic and CRIS. This is a huge blow to sports bettors and race bettors. It dramatically changes the betting landscape.

--Dunbar

Scav · #6 01-11-2007, 08:21 AM

my life is over

Scav · #7 01-11-2007, 08:58 AM

1) I wouldn't TRUST a single online sportsbook for a while. Others will not be as trustworthy as Pinnacle is being. I would get out NOW of places like 5Dimes, Greek, BetCris. Even though they are probably still accepting wagers, it won't be as easy as Pinnacle is making it to get your money.

2) Dunbar knows ALOT about online companies and online wagering, so he will be the first person to know about an alternative

3) Something had to happen at the WTO as Antiqua was fighting that bill, and for them to immediately pull out like they did, during their biggest gross wagering time of the year, doesn't bode well for the industry, whatsoever.

4) Dunbar, FIND ME A REBATE SHOP......

randallscott35 · #8 01-11-2007, 09:12 AM

Scavs is not underestimating this. It is a disaster, especially as a horse player. Getting a book this solid, with no worry on my part, with a rebate will be nearly impossible.

I have a NFL future pending and now I can't hedge it either. 10gs or nothing. That sucks.

Scav · #9 01-11-2007, 09:28 AM

Quote:

Originally Posted by randallscott35

Scavs is not underestimating this. It is a disaster, especially as a horse player. Getting a book this solid, with no worry on my part, with a rebate will be nearly impossible.

I have a NFL future pending and now I can't hedge it either. 10gs or nothing. That sucks.

Who is it on? Hedge through a guy....

The 'connected' loves this move, Pinnacle was popular enough to get mentioned on the Sopranos

randallscott35 · #10 01-11-2007, 09:30 AM

Quote:

Originally Posted by Scav

Who is it on? Hedge through a guy....

The 'connected' loves this move, Pinnacle was popular enough to get mentioned on the Sopranos

PATS Scavs.

I know a few "guys." Haven't used them in some time and don't like to. Plus we would be talking about a serious hedge if they get to the dance....May take my chances or just cover the principal bet.

SentToStud · #11 01-11-2007, 09:51 AM

This is the start of the Apocalypse as far as I'm concerned.

JJP · #12 01-11-2007, 09:58 AM

Look for some of the current operating offshores to start to offer racing rebates. There's a big market out there that's just waiting to be tapped. CRIS is already there but I'd look for WSEX and Bodog to start offering some kind of rebate. I don't see either of those companies giving up anytime soon.

Past Post · #13 01-11-2007, 10:14 AM

This place was the best for betting the ponies,bar none.They payed me some big payoffs with no problems.Plus the 7% rebate. Now what next??

hoovesupsideyourhead · #14 01-11-2007, 10:30 AM

move your tack to ?????? i m looking into some others..steve randall have some places i think..for f ball /horses..

randallscott35 · #15 01-11-2007, 10:53 AM

Quote:

Originally Posted by hoovesupsideyourhead

move your tack to ?????? i m looking into some others..steve randall have some places i think..for f ball /horses..

I have other outs I've used as well as locals. But for horses, there isn't a good backup as they were reliable as can be. Someone will try and fill the void but tread lightly. Foots season is mostly over at this point. And it is the offseason from the bigger racing days. I'm friends with the horse racing manager of a medium sized book(A rated in SBR) in the caribbean, though I haven't spoken with him since I moved most of my action to Pinny. I'll see what they looking to do to pick up the slack and increase their horse numbers....It will take a little time to sort itself out.

Dunbar · #16 01-11-2007, 11:04 AM

Quote:

Originally Posted by Scav

1) I wouldn't TRUST a single online sportsbook for a while. Others will not be as trustworthy as Pinnacle is being. I would get out NOW of places like 5Dimes, Greek, BetCris. Even though they are probably still accepting wagers, it won't be as easy as Pinnacle is making it to get your money.

2) Dunbar knows ALOT about online companies and online wagering, so he will be the first person to know about an alternative

3) Something had to happen at the WTO as Antiqua was fighting that bill, and for them to immediately pull out like they did, during their biggest gross wagering time of the year, doesn't bode well for the industry, whatsoever.

4) Dunbar, FIND ME A REBATE SHOP......

Scavs, you make an excellent point about Pinnacle giving up right before the biggest betting event of the year. I would not be concerned at all about other books if this had happened right after the SuperBowl. The fact that Pinnacle is giving up on that volume of action is hard to understand.

Still, I am not excessively concerned about TheGreek and CRIS. These two books have been solid from before Pinnacle became the dominant market force, and I have to think that in the longrun Pinnacle's departure will help the bottom line of shops like TheGreek and CRIS that do not offer discount vig.

5Dimes has always seemed very well run, but they have never had the reputation of CRIS or TheGreek. I would be very conservative with my balance at 5Dimes over the next few months. I would not hesitate to use them, however.

In the short term, the post-Superbowl period is the shakiest period for sportsbooks EVEN UNDER NORMAL CIRCUMSTANCES. Therefore, I would advise getting out of everywhere now, and not going back in until a month after the Superbowl. By that time, it will be clear which books have weathered the inevitable storm.

If CRIS and 5Dimes have survived, I would not hesitate to get back into those books at that time.

5Dimes and CRIS are the best alternatives to Pinnacle. 5Dimes's 10% bonus on winning exotic and win bets is better than Pinnacle's 7% rebate, pretty much regardless of how good of a capper you are. HOWEVER, the 5Dimes bonus does not appy to place and show bets, and it only applies to tracks that 5Dimes lists as "major". The most glaring omission from that list of "major" tracks is Oaklawn Park. Another downside of 5Dimes is that they close betting about 2 minutes before post.

CRIS pays rebates in a similar fashion that Pinnacle did. CRIS pays 8% on all exotics and 3% on WPS, but no rebate on place/show payoffs of $2.20 or less. So CRIS was already much better than Pinnacle on exotics at NY tracks, but is not nearly as good as Pinnacle on WPS, especially at non-NY tracks.

--Dunbar

cochise · #17 01-11-2007, 11:04 AM

I have been doing some research and Crisbet advertises 8% rebates on exotics & 5% on WPS. Has anybody used them? Any other good rebates out there?

hoovesupsideyourhead · #18 01-11-2007, 11:05 AM

no rebate unless you wrk out a deal but brisbet is fantastic..i has all the tracks /unlike some ..all video feeds..and free video replays..never have a problem fed ext next day on payouts if you need it..

Past Post · #19 01-11-2007, 11:22 AM

Ubet,brisbet,ok,these are some what ok.With Pinny there was no taxes taken out of your winnings,high limits,no fees,rebates,and best of all horse matchups.All the others just want to nickel and dime you to death.The goverment really appears to be giving out some big words to shut down or esle.God dam,what a country when the goverment stands above you to watch and see what you are doing,while some of them are watching porn on their computer.

Scav · #20 01-11-2007, 11:23 AM

Quote:

Originally Posted by JJP

Look for some of the current operating offshores to start to offer racing rebates. There's a big market out there that's just waiting to be tapped. CRIS is already there but I'd look for WSEX and Bodog to start offering some kind of rebate. I don't see either of those companies giving up anytime soon.

JJP,

With Pinnacle closing, how can you essentially trust anyone else in this industry? I doubt you want to happen to you, what happen to Betwwts customers....