Pinnacle Sports exits UK betting market

pinnacleCuracao-licensed Pinnacle Sports are the latest online betting operator to withdraw from the UK market, ahead of pending changes in UK gambling regulations and taxation that come into play on 1 October.

This Thursday, the operator issued an email to its UK player base asking player to withdraw all remaining funds from their player accounts by the 30 September. The sports betting operator will settle bets made on sporting events post 30 September.

Pinnacle Sports stated that it would not be applying for a online gaming licence from the UK Gambling Commission (UKGC).   

The UKGC has granted betting companies registered in ‘white list’ jurisdictions of Alderney and the Isle of Man a grace period in which they are allowed to continue serving UK punters while their applications are processed. Pinnacle held an Alderney license but voluntarily returned their licence after being targeted by US authorities over illegal US proxy betting

The operator’s withdrawal from the UK Market, follows this week’s announcement that Asian facing sports betting operator SBOBET would no longer operate in UK gaming jurisdictions.

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