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- Pinnacle Sportsbook
| Type | Private |
|---|---|
| Industry | Online gaming |
| Founded | 1998 |
| Headquarters | Curaçao |
| Products | Sportsbook, Casino |
| Website | www.pinnacle.com |
Pinnacle (formerly known as Pinnacle Sports) is an online gaming website that was founded in 1998. Since its inception, Pinnacle has become a medium-sized, fully licensed, online sportsbook. Pinnacle Sports rebranded to Pinnacle on June 1, 2016[1] after acquiring the pinnacle.com domain name.[2]
Presently, the company has customers in over 100 countries and is available in 19 (including international English) different languages. While most of the company information, including number of employees and gross revenues are kept private, Michael Konik, author of The Smart Money, believes 'it would not be out of line to guess that their [Pinnacle Sports] annual handle is in the billions of dollars.'[3]
Pinnacle headquarters are located on the island of Curaçao of the Kingdom of the Netherlands, and the group is fully licensed and regulated by the Government of the Netherlands Antilles (license number: 8048/JAZ2013-013),[4] which also functions as the regulating body for the gaming industry. On March 19, 2015 Pinnacle announced the award of a Class II Remote Maltese Gaming Licence,[5] MGA/CL2/1069/2015 for the provision of sports betting.
Regulation requires that Pinnacle must maintain sufficient funds to be able to honour the winnings of their customers at all times.
Reduced margin pricing[edit]
When Pinnacle began trading in 1998, most gaming companies used bonuses to lure potential customers. Rather than offer sign up or reload bonuses, Pinnacle became the first sportsbook to introduce a reduced margin pricing model or reduced juice, thus deriving profit from lower margins but a far higher turnover. Pinnacle began offering -105/-104 ($1.95-$1.96) prices on head-to-head match odds and spreads, significantly undercutting the standard -110 ($1.91) pricing model that was used by its competitors.
Pinnacle is able to operate under this pricing model by posting opening 'overnight' lines with smaller limits. This allows Pinnacle to shape their lines according to the betting activity of 'sharp' bettors without exposing the book. These early, low limit bets ultimately allow Pinnacle to offer betting limits with confidence as high as $50,000 or more on selected games with their low margin pricing model.
In an episode of The Sopranos, Tony is informed by a hospital neighbor (a shot rapper) that the neighbor got down a $50,000 bet on a boxing match they were watching at favorable odds from 'Pinnacle, man...Pinnacle!'
Casino[edit]
Although Pinnacle is best known for its sports betting service, Pinnacle has also operated an online casino since September 2004.
Pinnacle Sports Medina
The site offers the following casino games, in cash, high-stakes cash and a free play format:
- Oasis poker
- Hold’em poker
- Three card stud poker
- Single line slots
- Multi-line slots
- Progressive slots
Poker[edit]
In August 2008, Pinnacle entered the online poker realm, in hopes of taking advantage of the online poker phenomenon. Pinnacle’s poker room was run and operated by Entraction software. The same poker network is used by other online gaming websites, such as Betdaq, I4Poker and Redbet.[6]
In June 2011, Entraction informed Pinnacle that due to changes in EU gaming regulation their Curaçao license was no longer accepted. Pinnacle closed their poker room on 13 June 2011 stating “the steps required to remain within the Entraction Network will necessitate a significant commitment for Pinnacle Poker. Given that our current focus is on developing our leading Sportsbook and Casino products, we have decided not to pursue the necessary changes.[7]
eSports[edit]
In 2010, Pinnacle was one of the first global bookmakers to offer odds on eSports. What began initially as an experiment quickly turned into a major market which has doubled in size for four consecutive years (2010 to 2014). According to Pinnacle, eSports is now the 7th largest market for them in terms of volume, exceeding regular sports like golf and rugby. Pinnacle reached the milestone of a total of one million eSport bets in December 2014, and five million in February 2017.[8] In the rank of money volume wagered, in 2018 the eSports has become the fourth most popular sport and could clinch number two in a few years.
Drone racing[edit]
In 2016 Pinnacle was the first bookmaker to offer odds on drone racing.[9] On October 5 Pinnacle announced:
Starting with the 2016 Drone Racing World Championships first event at the Kualoa Ranch in Hawaii (October 20–22) Pinnacle will initially offer odds on the outright winner to gauge interest in the market.
Exit from US market[edit]
On January 11, 2007, in what was considered a controversial move, Pinnacle voluntarily announced that it would no longer accept wagers from customers based in the United States in accordance with the Unlawful Internet Gambling Enforcement Act of 2006, which was passed on September 30, 2006. The law, which was a last minute addition to Security and Accountability For Every Port Act, stipulates that “participants in designated payment systems to establish policies and procedures reasonably designed to identify and block or otherwise prevent or prohibit transactions in connection with unlawful Internet gambling.”[10] At the time, Pinnacle Sports posted the following message to their U.S. based customers:
After careful consideration, Pinnacle Sports has 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.
At the time of the announcement, nearly 60-65% of Pinnacle’s customers were based in the United States.[11] Passage of the legislation led Pinnacle to have problems with transactions involving US banks.[12] Shortly after the decision, an executive at Pinnacle was quoted as saying: 'When the U.S. focuses on something and says 'Enough,' and when they go to war, no individual company can possibly win in a fight of this nature.' The executive also reportedly said that 'since the Internet Gambling Bill went into effect, we have lost the ability to do business with many quality banks.'
After the decision, Pinnacle teamed up with World Sports Exchange (WSEX) to offer their US based customers an alternative to their website. At customer’s requests, Pinnacle willingly transferred all money left in US based accounts to new accounts at WSEX.
On December 19, 2008, Pinnacle ceased offering odds on North American horse racing. Although no official reason was given, it is believed this decision was made due to ongoing pressure from the U.S. government, as well as a general decline in interest from their non US based customers.[13]
Notes[edit]
- ^pinnacle.com Pinnacle Sports rebrands to Pinnacle
- ^dotweekly.com Pinnacle Sports acquires Pinnacle domain
- ^After Pinnacle, It's All Downhill From Here, washingtonpost.com, 17 January 2007, accessed 18 April 2009.
- ^Pinnacle Sports Review, esports-betting.pro
- ^www.pinnacle.com Malta License Press Release
- ^Entraction CustomersArchived 2009-04-22 at the Wayback Machine.
- ^Pinnacle Poker closed due to updates to EU poker regulation[permanent dead link].eog.com, July 20th, 2011
- ^Zalik, Dejan (9 February 2017). 'Pinnacle Reaches Massive Milestone In Esports Betting With Five Millionth Bet Placed'. EsportsBets.com. Retrieved 14 February 2017.
- ^Pinnacle first to offer betting on Drone Racing
- ^Internet Law - Implementation of the 2006 Unlawful Internet Gambling Enforcement Act is Coming, ibls.com, 8 October 2007, accessed 18 April 2009.
- ^Pinnacle Sports stops accepting U.S. bets, casinocitytimes.com, 11 January 2007, accessed 18 April 2009
- ^Offshore Gambling Site Stops Taking U.S. Bets, bloodhorse.com, 12 January 2007, accessed 18 April 2009.
- ^Pinnacle Sports halts US horse racing service, reviewed-casinos.com, 19 December 2008, accessed 19 April 2009.
Pinnacle Sports is one the largest sports betting sites in the world, and is best known for their industry leading odds, highest betting limits, and fastest payouts. This is not marketing hype but rather is the truth. If you compare odds for any football match on the 3-way Home/Draw/Visitor market nine times out ten you’ll find Pinnacle has better Best Online Betting Odds at Pinnacle Sports odds for at least one selection than you’ll find anywhere else on the net. The same is true regarding their betting odds for cricket, rugby, golf, hockey and American sports. There’s also no tennis betting sites that come close to matching their odds and betting limits. If you understand the importance of getting the best odds, you’ll certainly want to open an account at www.pinnaclesports.com.
The only two countries Pinnacle Sports restricts are the United States and France. If you live in either of these two countries you’ll want to consider www.5dimes.eu for reduced juice sports betting. For players living anywhere else, no doubt Pinnacle is the best site to use. Their website is available in many languages including English, 简体中文 (Chinese S.), 繁體中文 (Chinese T.), Suomi (Finnish), Français (French), Deutsch (German), עברית (Hebrew), Italiano (Italian),日本語 (Japanese), Norsk (Norwegian), Polski (Polish), Português (Portuguese), Русский (Russian), Español (Spanish), Svenska (Swedish) and ภาษาไทย (Thai). The currencies in which a Pinnacle account can be opened are AUD, MYR, CAD, NOK, RMB, NZD, CZK, PLN, DKK, SGD, EUR, SEK, GBP, THB, HKD, TWD, JPY, USD.
If you live in China, Malaysia, Hong Kong or anywhere else that gambling deposits are a bit difficult, you’ll be at happy to know Pinnacle makes banking convenient. Here you can deposit and withdrawal with either Webmoney or EntroPay. For those living in the UK or other parts of Europe where gambling deposits are much easier, you’ll pleased to find all the usual banking options including Credit Card, Neteller, Moneybookers, Cheque and bank transfer are available options. For more details of banking options by currency refer to the Pinnacle Sports website.
Football Betting
The football coverage at Pinnacle is quite impressive. Of course you’ll find World Cup, Champions League, Asian Cup, Europa League, English Premier League, Spanish La Liga, Italian Serie A, German Bundesliga and MLS, but you’ll find Argentina Primera Division, Australian A-League, Austria’s Bundesliga & Erste Liga, Belgium Pro League, Brazil Serie A, Croatia 1. NHL, Czech 1. Liga, Danish Superligaen, Finnish Veikkausliiga, French Ligue, Greek Super League, Holland Eredivisie, Hungarian NB 1, Irish Premier League, Mexican Primera Division, Norwegian Eliteserien, Polish Ekstraklasa, Portuguese Primeira Liga, Romanian 1st League, Russian Premier League, Scotland Premier, Swiss Challenge League, Swedish Allsvenskan & Superettan, and Turkey’s Super League. As illustrated – there is no shortage of football matches available for wagering at Pinnacle Sports.
Keep in mind Pinnacle operates on the lowest margins in the sports betting industry. For football you’ll find the ability to wager on Handicap, 1X2, and total goals, all available at industry leading prices. To give an example, an upcoming Liverpool versus Manchester United match has the total goals set at 2.5. At most betting sites you can wager either option at 1.91 odds. At Pinnacle you can wager over 2.5 1.971 or under 2.5 at 1.935. Obviously Pinnacle is offering far better value than their competitors. Now to make sure this is clear let me explain it in other odds formats.
In Hong Kong odds, this is wager is available at the other bookmakers at over 2.5 goals .910 / under 2.5 goals 0.910, where at Pinnacle the odds are over 2.5 at 0.971 and under 2.5 at 0.935.
In American Odds, this wager is available at other sportsbooks for over 2.5 goals -110 / under 2.5 -110, where at Pinnacle Sports it is available at over 2.5 goals -103 / under 2.5 goals -107.
Pinnacle is a truly an international site, offering odds formats, and matches of interests for all players around the globe.
Cricket Wagering
Pinnacle doesn’t get much marketing presence in India, but serious punters who enjoy wagering IPL know Pinnacle is one of the best websites for this. Here Indians can deposit and withdrawal using EntroPay, Moneybookers or Neteller. Although Indian Rupee is not a currency choice as it as at www.bet365.com the odds are so good you’ll save handsomely.
Pinnacle Sports Performance
Also cricket is quite popular in Australia, and Australians know it’s becoming more and difficult to find a legitimate bookmaker offering favorable odds. I’m sorry but the high juice charged by Tab, Sportsbet, Sporting Bet and Centrebet really doesn’t cut it, and many other sites have left the Australian market. Well, you Aussie guys will happy to know Pinnacle still accept Australian punters and offers cricket wagering on Ashes Tests Series and other competitions.
Of course cricket is also popular in the UK, but most UK residents are sharp and obviously already have accounts at the top three sites Pinnacle, Betfair and Bet365. So in summary, Pinnacle is a great option for countries where cricket betting is most popular.
Hockey Wagering
You like to bet hockey eh? Seriously, Pinnacle is hands down the best Canadian betting site. They offer NHL Hockey and CFL football at the lowest margins in the sports bookmaker business. It’s not uncommon to find a true nickel line here. What I mean by this is over 5 -103 / under 5 -102. Their margins are so slim in hockey you’ll frequently find arbs against other betting sites. Of course there is no shortage of Canadian banking options either, you can use Moneybookers, Credit Card, Instadebit, or any other number of options that can be found in the Pinnacle Sports Cashier. Seriously eh? Stop getting ripped off by Proline or Sport Select, and check out www.pinnaclesports.com where you’ll get far better odds.
#1 for American Sports
I won’t harp on it in this review, but where Pinnacle really excels is American sports including football, baseball and basketball. Their margins are the lowest in the industry and their wagering limits are massive. For NFL football the maximum bet is $30,000 and punters can place unlimited max bets, so long as the line has moved or 4-hours has passed. Unfortunately though, Pinnacle does not offer betting services to US residents. If you live outside the US and follow American sports, this is for sure the place to bet. For American punters looking to bet NFL, no doubt the best site is www.5dimes.eu.
Pinnacle Sports Medina
Is Pinnacle Sports Legit
Absolutely! If you check our sportsbook rating guide you’ll see they are one of just four companies holding our top A+ Rating. They are also top rated by our competitors – Bookmakers Review has them as one of just two sites with a 5.0 out of 5.0 rating, and SBR has them as one of just seven sites with an A+ rating. To understand just how legitimate Pinnacle Sports is, allow me to cover a little bit about their history.
Up until March 1998, most phone based bookies targeting the United States worked out of Margarita Island Venezuela which was formerly a bookmaker safe haven. Well in early 1998, the Chavez uprising was just getting started and one objective both sides could agree with was a plan to rid the country of bookmakers. Guys like Sportsbook’s founder Patrick C. and dozens of others, upped, changed countries and began operating with a new name, having never cashed anyone out. One of the very exceptions to this was Heritage Sports – who sent all clients a FexEd package which included an apology and thank you letter as well as a check for their full balance. You see Heritage was founded by actual gamblers, who knew the meaning of trust – these guys were members of the most successful gambling syndicate of the 1980’s and didn’t have in their blood to ever skip out on a gambling debt. Well 6 months later, much of the Heritage management and staff landed in Curacao where they started a new sportsbook called Planet Pinnacle – which became Pinnacle Sports in early 2003.
The majority of Pinnacle Sports marketing focus from day one was on player trust. More than 10 years ago then marketing director Matt Keats posted a meaningful statement at Bettors World which said “Pinnacle Sports has worked hard to establish a solid name in this industry. We are well known for fast payouts, competitive lines, taking large bets and never, never closing accounts.” Pinnacle has no doubt lived up to this reputation. These guys lowered and kept lowering their vig (bookmaker advantage) in order to give players better odds, and each time increased their maximum wagering limit. When you cash out at Pinnacle Sports the payment comes in about 5 minutes to an e-wallet. The entire company works absolutely amazing on complete computerized automation. However if you need customer support, send an email and a clear, precise well written response will follow in minutes.
Quite honestly it doesn’t matter what sport you wager, or what your preferred banking method is, you’d be incredibly hard pressed to find a site more legit, and with better value and service than you’ll find at www.pinnaclesports.com. This is true in 2012 no matter if you’re from Taiwan, India, Canada, Hong Kong, Japan, UK, Germany, Singapore, Malaysia, Denmark, or anywhere else in the world – Pinnacle Sports has you covered with the best odds, highest betting limits, and fastest payouts, bar none.
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