Pinnacle sports $50,000 litecoin withdrawal NOT ACTUALLY SENT PLEASE HELP THEY ARE UNRESPONSIVE

[leafsfan1967]

Hi all. The value at the exact time when they sent the funds was C$45.3k - much less than C$50k. They are having their payout team look into this and will get back to me.

I can confirm that pinnacle has paid me out my entire remaining balance via bitcoin so that’s good news!

 

[DontTailMe]

Hi all. The value at the exact time when they sent the funds was C$45.3k - much less than C$50k. They are having their payout team look into this and will get back to me.

I can confirm that pinnacle has paid me out my entire remaining balance via bitcoin so that’s good news!

I'd say there's double-good news, since you are in active communication with the payout department on the $4,800 haircut. Good luck and definitely keep us updated on the outcome - good or bad.

 

[hazliam]

Hi all. The value at the exact time when they sent the funds was C$45.3k - much less than C$50k. They are having their payout team look into this and will get back to me.

I can confirm that pinnacle has paid me out my entire remaining balance via bitcoin so that’s good news!

Damn man, not many books can do 6 figure payout fast. Most have you withdrawal over months.

 

[sportsbettor5]

Damn man, not many books can do 6 figure payout fast. Most have you withdrawal over months.

BOL, BM, and Pinnacle all can. Any others?

 

[DontTailMe]

Damn man, not many books can do 6 figure payout fast. Most have you withdrawal over months.

What you mean is they won't. They all "can".

BetOnline certainly does it. Bookmaker comes close.

 

[hazliam]

What you mean is they won't. They all "can".

BetOnline certainly does it. Bookmaker comes close.

Yup BOL can.
BM is $100K per month.
I guess heritage can too but you gotta be requesting $5k a day everyday.
Bovada comes close $9k every 3 days.

Can BAS do it? They didn’t write a limit on their withdrawal. But I would be surprise if someone work a balance to 6 figures with them,

 

[sportsbettor5]

@leafsfan1967 Did you ever hear back about recovering the lost value? I haven't heard anything regarding my case.

 

[BMR Genie]

Update: BMR is still in contact with the player and Pinny resolving this.

 

[leafsfan1967]

Pinnacle has still not compensated me for the discrepancy of nearly $4.5k. They sent me an email saying basically since they deducted the amount from my pinnacle account on Jan 21, they used the rate of litecoin to dollars on that date which was drastically different than the date they paid me three days later. The rate should be at the time they process and make the payment which was the 24th. I’m quite shocked they still haven’t compensated me for this difference of nearly $4.5k. I’ve tried following up again but haven’t heard back yet.

 

[DontTailMe]

Pinnacle has still not compensated me for the discrepancy of nearly $4.5k. They sent me an email saying basically since they deducted the amount from my pinnacle account on Jan 21, they used the rate of litecoin to dollars on that date which was drastically different than the date they paid me three days later. The rate should be at the time they process and make the payment which was the 24th. I’m quite shocked they still haven’t compensated me for this difference of nearly $4.5k. I’ve tried following up again but haven’t heard back yet.

Is BMR having any luck mediating this. If the bolded is indeed what happened, then that is just flat out wrong and you need to be compensated. Maybe they have a 3rd party provider who handles crypto transactions for them, and that is why the 3-day delay occurs. But if so, that 3rd party business arrangement is their problem, not yours, and you shouldn't be required to incur that exorbitant cost for them.

For the record, I have no knowledge that Pinnacle uses a 3rd party for crypto payouts. It's just one possible explanation, because I know this kind of arrangement has caused similar issues at other sportsbooks in the past. Either way, leafsfan needs to be paid.

 

[kakad]

Fairly certain Pinnacle uses a 3rd party for crypto payments. My bitcoin withdrawals are listed as "Cryptopay #XXXX...", so I think it's safe to assume they use Cryptopay.me in some fashion. And that excuse from Pinnacle is BS. I can request a Bitcoin withdrawal, get a confirmation email within an hour, confirm that withdrawal email and watch the transaction hit my wallet within the next 5 minutes (so less than an hour in total) and I'm still guaranteed to be short 2.5% every single time. I'd complain, but I need Pinnacle a lot more than I need that 2.5%

 

[sportsbettor5]

Pinnacle has still not compensated me for the discrepancy of nearly $4.5k. They sent me an email saying basically since they deducted the amount from my pinnacle account on Jan 21, they used the rate of litecoin to dollars on that date which was drastically different than the date they paid me three days later. The rate should be at the time they process and make the payment which was the 24th. I’m quite shocked they still haven’t compensated me for this difference of nearly $4.5k. I’ve tried following up again but haven’t heard back yet.

After the way they treated me, I'm not surprised at all. I am still hoping to hear from BMR about the $1900 that went missing when Pinnacle forced me to withdraw.

 

[leafsfan1967]

I

Is BMR having any luck mediating this. If the bolded is indeed what happened, then that is just flat out wrong and you need to be compensated. Maybe they have a 3rd party provider who handles crypto transactions for them, and that is why the 3-day delay occurs. But if so, that 3rd party business arrangement is their problem, not yours, and you shouldn't be required to incur that exorbitant cost for them.

For the record, I have no knowledge that Pinnacle uses a 3rd party for crypto payouts. It's just one possible explanation, because I know this kind of arrangement has caused similar issues at other sportsbooks in the past. Either way, leafsfan needs to be paid.

they do use a third party but the payouts are always paid when they are taken from your pinnacle account. This time there was an error either on the part of pinnacle or the processor. 3 days is not normal and I shouldn’t be responsible for the loss to me of $4.5k that occurred as a result

 

[leafsfan1967]

This whole thing is such a joke. It’s been weeks and I’m left out $4.5k. I’m incredibly upset about all this.

 

[leafsfan1967]

STILL no follow up from Pinnacle. Just updating everyone. By the way, the attached screenshot shows the value in Canadian dollars at the time the withdrawal was processed and sent to me to the address indicated next to that box - that was my receiving address. That's $4,750 CAD less than the $50,000 CAD. So I got screwed out of nearly $5k.

 

[DontTailMe]

What's the status of the BMR dispute?

 

[leafsfan1967]

What's the status of the BMR dispute?

The BMR rep I'm in contact with through BMR dispute procedure said he followed up with Pinnacle on Feb 4 but I haven't heard back from him yet. I've followed with him as well.

 

[sportsbettor5]

Same situation as me.

I think you have a better chance than I do at getting your money since you can point to specific difference in CAD/LTC at the time of request vs. the time of payout.

In my case, they forced me to withdraw in USDT and gave zero transparency as to their method of conversion from CNY (the account currency) to USDT. So they can hide behind totally opaque "conversion fees" in my case and will never have to break down those "fees" anywhere to anyone.

 

[leafsfan1967]

Same situation as me.

I think you have a better chance than I do at getting your money since you can point to specific difference in CAD/LTC at the time of request vs. the time of payout.

In my case, they forced me to withdraw in USDT and gave zero transparency as to their method of conversion from CNY (the account currency) to USDT. So they can hide behind totally opaque "conversion fees" in my case and will never have to break down those "fees" anywhere to anyone.

This sucks. I'm sorry to hear. I also read your thread. I'd like to think I have a decent chance of getting compensated for the discrepancy but at this point I doubt it. Given my level of action and the relatively small amount we're talking about when compared my level of action, I'm absolutely shocked Pinnacle is being so stubborn, unreasonable and patently unfair to me. This is an issue with them and their processor, not me. The time at which they "deduct" the funds from my pinnacle account has absolutely no relevance - it's the time they process and send the payment that matters with respect to the rate used. I'm certainly heavily considering switching books at this point.

 

[sportsbettor5]

This sucks. I'm sorry to hear. I also read your thread. I'd like to think I have a decent chance of getting compensated for the discrepancy but at this point I doubt it. Given my level of action and the relatively small amount we're talking about when compared my level of action, I'm absolutely shocked Pinnacle is being so stubborn, unreasonable and patently unfair to me. This is an issue with them and their processor, not me. The time at which they "deduct" the funds from my pinnacle account has absolutely no relevance - it's the time they process and send the payment that matters with respect to the rate used. I'm certainly heavily considering switching books at this point.

I really don't think it's a problem with their processor. If they are actually working with a third-party processor like Cryptopay for all crypto transactions, then they could have just initiated the order with the processor immediately when they deducted the amount from your balance. The conversion at Cryptopay should be near-instant and certainly wouldn't take days.

One thing I just looked up: it seems Cryptopay doesn't support CAD, only USD/GBP/EUR. So your situation is even more similar to mine than I thought. At the end of the day they can argue that it was expensive for them to convert your CAD to USD/GBP/EUR and then more was lost in the conversion to LTC. They will offer no transparency on these alleged conversions.

Based on my experience with them, there are some really awful human beings working there---like scum of the earth types---pretty high up in the chain. The only thing that can make such awful people change their ways is the threat of losing money/reputation, so you're doing the right thing by posting here.