Pinnacle Sports Pulls Out of US Market

Mr7134 · Jan 11, 2007

From...

http://www.casinocitytimes.com/news/article.cfm?contentID=163490

Pinnacle Sports stops accepting U.S. bets

By Aaron Todd
11 January 2007

The world's largest online sportsbook just got a lot smaller.

Pinnacle Sports, which was founded in 1998, announced that it is no longer accepting bets from customers located in the United States this morning. Approximately 60-65 percent of Pinnacle Sports' business has came from the U.S., according to Eye On Gambling.

The decision comes three months after President Bush signed the Unlawful Internet Gambling Enforcement Act into law.

Pinnacle Sports gained enormous popularity among sports bettors by offering lines with reduced juice and $1 minimum wagers. The site also boasts to have "the highest maximum limits on the Web."

Since the UIGEA became law, the online sportsbook industry has been in flux. While publicly owned Internet sportsbooks such as Sportingbet, William Hill and Ladbrokes haven't taken U.S. bets since the bill was passed, most privately owned companies have continued to accept U.S. play.

Many of those privately held companies, however, have been involved in a series of buyouts and takeovers.

Sportsbook.com, formerly Sportingbet's U.S. facing sportsbook, was sold for $1 when President Bush signed the UIGEA and continues to accept U.S. customers. Bodog, which also continues to accept U.S. players, bought Betcorp and moved its offices to Antigua.
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Football_Bat · Jan 11, 2007

Why do these offshore companies care whether Americans bet with them? They are outside U.S. law ... which is kind of the reason Gitmo exists, isn't it?

playthrough · Jan 11, 2007

This is a story that won't be prominent anywhere in the U.S. sports media world tomorrow, but will be No. 1 on many readers/viewers/listeners minds.

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Pinnacle Sports Pulls Out of US Market

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Pinnacle Sports Pulls Out of US Market

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