Don’t look now Australian punters but one of the few high limit, low margin bookies in Pinnacle Sports might soon become a non-option.
Pinnacle is an off-shore (Carribean) Sportsbook that is universally known in betting circles for its competitive prices and large limits.
Licensed and headquartered out of Curacao in the Kingdom of the Netherlands, the group is fully licensed and regulated by the Government of the Netherlands Antilles.
The betting operation is no stranger to controversy and dealing with governments after famously losing the majority of its customer base when the United States passed a bill to ban residents from placing bets on Pinnacle from within the US.
On January 11, 2007, Pinnacle voluntarily announced that it would no longer accept wagers from customers based in the United States in accordance with the Unlawful Internet Gambling Enforcement Act of 2006.
READ: Pinnacle Sportsbook Review
It appears now however that Pinnacle will face a new challenge from another strong betting market as the Australian government seeks to tighten the screws on off-shore betting operators.
The struggles Aussie punters have faced with the live betting laws were heightened when off-shores such as Matchbook and Pinnacle stopped in-play wagering from Australian customers a few short months ago.
The Australian government is looking to go a step further though and completely shut down betting through off-shore bookmakers a recent federal bill revealed.
Alan Tudge, the Minister for Human Services said: “Currently hundreds of illegal gambling services are easily accessible on the internet and we know that people are more likely to get into trouble online – 2.7% of interactive gamblers are problem gamblers compared to 0.9% of all gamblers.
“We expect online wagering providers to meet community expectations. The tougher laws will seriously disrupt illegal offshore providers from acting unscrupulously or targeting vulnerable Australians.
“The government is committed to taking tougher action against illegal offshore wagering providers and this bill does exactly that.”
Pinnacle has long been a reliable option for Australian punters who have been restricted by the big corporates such as William Hill and Ladbrokes.
If the bill passes it will certainly be a big blow as it will also shut down the likes of 5Dimes and Matchbook.
We’ll be tracking the outcome closely and hope a sensible resolution is reached or a compromise with Aussie books is reached.
Dare we say it – a minimum bet law for sports betting in Australia?