Official Statement from Pinnacle

[clevfan]

Below is the official statement from PinnacleSports.com about the company's decision to withdraw from the US market. The company is not prepared to make any additional statements regarding this decision at this point.

PinnacleSports.com Withdraws from U.S. market


WILLEMSTAD, CURACAO (January 11, 2007) - After careful consideration, PinnacleSports.com today chose to voluntarily withdraw from the United States market and effective immediately, will no longer accept wagers from customers located within the U.S. All U.S. based clients who are impacted by this decision are required to withdraw the balance of their accounts.



Access for all non-U.S. customers will be unchanged and the company will now focus on developing its existing markets outside of the U.S. Pinnacle Sports is a recognized international brand offering exceptional value to online bettors in over 100 countries worldwide.



The management of PinnacleSports.com appreciates the continued support of their strategic partners and apologizes for any inconvenience players may encounter over the next few days. All pending wagers will be honored by Pinnacle Sports and may be withdrawn from client accounts as they are graded.



About PinnacleSports.com

PinnacleSports.com (www.pinnaclesports.com) is the Internet's largest sports betting site serving customers in more than 100 countries worldwide. Founded in 1998, PinnacleSports.com was the first sports book to introduce reduced margin wagering, using a -105 pricing model that gives bettors up to 50% better value on wagers than traditional bookmakers. With low minimum bet requirements and the highest maximum limits on the Web, PinnacleSports.com has earned an industry leading reputation for providing consistent value to the player, professional customer service and the quickest payouts online. Fully licensed and regulated in Curacao, the company offers a secure environment for sports betting, racing and casino gaming.

[Pancho Sanza]

Very typical, tells us nothing.

[(sportman)]

You can't read the small print pancho....

We've gotten ourselves involved in something we shouldn't have and now must abide by the rules.

[clevfan]

I agree with sportman.

But I will tell you what, the way they are handling this is highly honorable and should be commended. There will not be a single person who isn't refunded their money.

[(sportman)]

Absolutely.

[StarnetGypsy]

I'm thinking the article that 911 put out prettymuch sums it up:

"PinnacleSports.com is located out of Curacao, however, some of the
gambling firm's larger customers were believed to have been caught up
in the recent gambling "sting" out of New York City.

During a much publicized gambling sting out of Suffolk County, Long
Island three years ago, one of the individuals charged had been
telling informants he was "an owner in PinnacleSports". This claim
later proved to be false but may also have served to thrust the
successful betting operation into the spotlight. "


Someone rolled over on them ... jmo