Online casino, poker and sportsbetting site PinnacleSports.com announced late last week that it had closed its horseracing betting service following ‘various changes in the North American racing industry’.
The Curacao-licensed site was founded in 1998 and has customers in more than 100 countries around the globe. It also offers poker with a 30 percent rakeback rate alongside online casino games with a 0.3 percent cashback offer on every deposit.
Although no specific reason was given for the closure of its horseracing division, numerous experts theorised that the Willemstad-based site grew worried following the $300 million fine handed out to PartyGaming co-founder Anurag Dikshit last week and decided to play it safe by closing. In addition, industry analysts point to the confusing nature of current laws governing whether non-US firms may offer online horseracing gambling services to American residents.
“As a result of the various changes in the North American racing industry, Pinnacle Sports finds itself in a position where we are unable to offer horseracing to our satisfaction,” read the statement on the site.
“This, added to the declining interest of clients in racing in general, has prompted us to discontinue wagering on daily North American horseracing with immediate effect.
“Please be assured that we will continue to offer our extensive range of sports betting markets with odds worth up to 60 percent better value than traditional bookmakers as well as our instant play casino and online poker room at www.PinnacleSports.com.
“We would like to take this opportunity to thank you for your understanding and apologise for any inconvenience caused.”