Archive for January 11th, 2007

Pinnacle Sports Pulls Out of US Market

PinnacleSports.com, one of the industry’s largest online sports betting operations, has voluntarily pulled out of the US market.

Many companies can not compete with PinnacleSports‘ tight margins where a player would win $94-$96 for every $100 bet on the handicaps compared to the typical odds of $90-$92 at most online bookmakers.

A brief message appeared on the PinnacleSports.com website Thursday morning:

“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. “

PinnacleSports have a sizable European market share (with 40% of their business is believed to be European and Asian based) and will continue to service all other betting regions.

The PinnacleSports website is still online and accepting bets from existing customers – but investigations show that the option ‘United States’ has been withdrawn from the list of eligable countries in the join-up process.

For professional sports bettors, no sports book or bookmaker comes close to the odds on offer at PinnacleSports, and this change will mean a significant number of US based bettors will be looking for betting action elsewhere.

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