Pinnacle is Threatening to Confiscate my Six-Figure Balance

[Ace7550]

Glad you got your money. Sounds like you lost around 1% in fees. Annoying but in the end it must be a relief to have the money in your hands.

 

[sportsbettor5]

Glad you got your money. Sounds like you lost around 1% in fees. Annoying but in the end it must be a relief to have the money in your hands.

It's like the psychology of a kidnap victim. Sometimes they are grateful to their kidnappers for releasing them.

 

[hazliam]

Since Pinnacle is trying to mislead people on this:

I sent the withdrawal request on the evening of 15 January. I received no confirmation e-mail until >100 hours later.

Finally, they sent the withdrawal confirmation e-mail at 4:23 AM CST with a 30-minute expiration time. I was not awake to receive the e-mail, so the withdrawal expired at 4:53 AM CST and I had to start the process over again when I woke up.

The time from the initial withdrawal request to receipt of funds was approximately 155 hours.

Damn they gave you 30 min? I would have gave you 30 seconds.

 

[sportsbettor5]

Damn they gave you 30 min? I would have gave you 30 seconds.

lol. I won't be playing at your sportsbook then

 

[sportsbettor5]

Update: I've heard nothing from SBR for over three weeks. I am doubtful I'll see any of the money Pinnacle took from me.

 

[DontTailMe]

Between this and the other thread, sounds like Pinnacle has exorbitant, hidden fees and they don't care about the unforeseen harm it causes their customers.

Terrible look for a book which is otherwise considered to be very trustworthy.

 

[biprob]

Update: I've heard nothing from SBR for over three weeks. I am doubtful I'll see any of the money Pinnacle took from me.

You do realize you could've avoided all this unnecessary back & forth drama by simply winning a $4125 bet to cover the initial 2.75% conversion rate? Sucks it should have to come to that, but with a $150K balance that really shouldn't be a problem if you are as adept at gambling as you are at "needling" an essentially unregulated outfit that holds all the power.

 

[sportsbettor5]

You do realize you could've avoided all this unnecessary back & forth drama by simply winning a $4125 bet to cover the initial 2.75% conversion rate? Sucks it should have to come to that, but with a $150K balance that really shouldn't be a problem if you are as adept at gambling as you are at "needling" an essentially unregulated outfit that holds all the power.

Pinnacle was giving me a very short window of a few weeks to withdraw before it would confiscate my full balance. I built the balance from scratch over years by being extremely patient and being a sniper, not by placing -EV bets under time pressure. Given the short window, I likely would have lost money rather than earn $4125.

 

[biprob]

Pinnacle was giving me a very short window of a few weeks to withdraw before it would confiscate my full balance. I built the balance from scratch over years by being extremely patient and being a sniper, not by placing -EV bets under time pressure. Given the short window, I likely would have lost money rather than earn $4125.

Fair enough, appreciate the response but define "built from scratch". You sort of gave the impression that you started with a 6 figure bankroll based on the fact you only requested one payout in 4 years implying it wasn't exactly a priority. Assuming you started with e.g. 5K & built it up to 150K it would seem logical to request incremental payouts along the way to withstand a bad run/tilting & possibly losing it all, thereby having nothing show for it. But then again that's just me, I guess you have to do what's best for you.

 

[sportsbettor5]

Fair enough, appreciate the response but define "built from scratch". You sort of gave the impression that you started with a 6 figure bankroll based on the fact you only requested one payout in 4 years implying it wasn't exactly a priority. Assuming you started with e.g. 5K & built it up to 150K it would seem logical to request incremental payouts along the way to withstand a bad run/tilting & possibly losing it all, thereby having nothing show for it. But then again that's just me, I guess you have to do what's best for you.

Without digging through my records, I think my total deposits were in the 20k range and I built the balance over about four years. I've never been on a tilt and doubt I ever will. I kept the money parked there because it was convenient and because I thought Pinnacle was a trustworthy book.

 

[biprob]

Without digging through my records, I think my total deposits were in the 20k range and I built the balance over about four years. I've never been on a tilt and doubt I ever will. I kept the money parked there because it was convenient and because I thought Pinnacle was a trustworthy book.

Not that you have anything to prove to me but you're starting to lose a little credibility since your 1st post stated, "never deposited anything other than my initial deposit". Maybe this is lost in translation but to state "my total deposits were in the 20K range" would imply multiple deposits. Correct me if I'm wrong.

 

[sportsbettor5]

Not that you have anything to prove to me but you're starting to lose a little credibility since your 1st post stated, "never deposited anything other than my initial deposit". Maybe this is lost in translation but to state "my total deposits were in the 20K range" would imply multiple deposits. Correct me if I'm wrong.

Yes, my total deposits were one deposit only. The 20k number is just by memory. I'll dig through my records later to find a more precise amount if it interests you. BTW, I don't mind the questions so ask away, just dealing with a family situation right now that makes it slower for me to respond than usual.

 

[biprob]

Yes, my total deposits were one deposit only. The 20k number is just by memory. I'll dig through my records later to find a more precise amount if it interests you. BTW, I don't mind the questions so ask away, just dealing with a family situation right now that makes it slower for me to respond than usual.

It's all good, after going through all your posts you seem more than credible, just stuck on that 1 little discrepancy. Glad it eventually worked out for you and BOL with your family situation.

 

[sportsbettor5]

It's all good, after going through all your posts you seem more than credible, just stuck on that 1 little discrepancy. Glad it eventually worked out for you and BOL with your family situation.

Yeah I was trying to use plural like an accountant there (like "total deposit(s)"), plus I usually speak a language that doesn't do plural. Sorry for the confusion. It was just the one deposit when I opened the account.

Also I don't think it worked out fairly for me, which is why I'll continue to spread the word about Pinnacle's scummy behavior. As I wrote above, Pinnacle's own T&C, term 8.3 required them to offer me withdrawals with the original method of deposit. That method is free---no conversion fees, no withdrawal fees. They offered that option initially, then took it away very quickly for no stated reason and forced me to lose almost $2k on the withdrawal.

Also they threatened to confiscate all of my money like a bunch of mafia members. It's my money, not theirs, and they have no right to steal it.

 

[DontTailMe]

You do realize you could've avoided all this unnecessary back & forth drama by simply winning a $4125 bet to cover the initial 2.75% conversion rate? Sucks it should have to come to that, but with a $150K balance that really shouldn't be a problem if you are as adept at gambling as you are at "needling" an essentially unregulated outfit that holds all the power.

This is nonsense. Yes, because it's so easy to win a bet on demand. And even if OP did win a wager, he's still owed $4,125 by the book. They don't get off of the hook just because OP did some completely unrelated work to earn money. I feel like I'm taking crazy pills.

 

[biprob]

Yeah I was trying to use plural like an accountant there (like "total deposit(s)"), plus I usually speak a language that doesn't do plural. Sorry for the confusion. It was just the one deposit when I opened the account.

Also I don't think it worked out fairly for me, which is why I'll continue to spread the word about Pinnacle's scummy behavior. As I wrote above, Pinnacle's own T&C, term 8.3 required them to offer me withdrawals with the original method of deposit. That method is free---no conversion fees, no withdrawal fees. They offered that option initially, then took it away very quickly for no stated reason and forced me to lose almost $2k on the withdrawal.

Also they threatened to confiscate all of my money like a bunch of mafia members. It's my money, not theirs, and they have no right to steal it.

I just meant "worked out for you" considering the alternative. (total account confiscation). It just baffles me in this day & age how an internationally known book like Pinnacle would even try to take such a tact with you considering your options. Since everything you pointed out is stated in their T & C you could obviously screenshot every line of text you have with them & threaten to post it on every gambling forum (Twitter, Reddit). 150K while impressive from your POV, is nothing but a drop in the bucket for them to risk that kind of bad publicity. It's interesting how these Euro books are willing to expose themselves to this type of liability while American books like FD & DK actually go out of their way to honor "bad lines" even if it's in the player's favor to avoid just that.

 

[sportsbettor5]

I just meant "worked out for you" considering the alternative. (total account confiscation). It just baffles me in this day & age how an internationally known book like Pinnacle would even try to take such a tact with you considering your options. Since everything you pointed out is stated in their T & C you could obviously screenshot every line of text you have with them & threaten to post it on every gambling forum (Twitter, Reddit). 150K while impressive from your POV, is nothing but a drop in the bucket for them to risk that kind of bad publicity. It's interesting how these Euro books are willing to expose themselves to this type of liability while American books like FD & DK actually go out of their way to honor "bad lines" even if it's in the player's favor to avoid just that.

Thanks for clarifying that and I agree with your point. This ordeal came as a big surprise to me. I've dealt with C-rated books that treated me much better.

A bunch of other players like @leafsfan1967 and many at SBR have reported on Pinnacle ripping them off on crypto withdrawals as well. My situation adds a couple of layers of nastiness on top of that scam, as they forced me to use their rip-off crypto method and threatened me with confiscation if I didn't comply.