Sunday, January 14, 2007

Pinnacle Sports, an offshore gambling enterprise located in Curacao, has
stopped taking bets from residents of the United States. Pinnacle officials
said the move is tied to the Unlawful Internet Gambling Enforcement Act,
which prohibits the use of credit for illegal gambling. "After careful
consideration, Pinnacle Sports has chosen to voluntarily exit the American
market," the company said on its Web site. "Accordingly, wagers will no
longer be accepted from clients located in the United States as of (Jan.
11)." The company said it would continue to service clients in Canada and
other countries. It also said the balances of U.S. customers would have to
be cashed out. Pinnacle officials said that since passage of the legislation
last year, the company has had trouble doing business with banks. The
company said about 40% of its business comes from outside the U.S., with
Europe and Asia the growth markets. On its Web site, Pinnacle lists about 20
racetracks on which it would take bets Jan. 12. The company also listed
proposition wagers on several races.