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Doobs
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« on: October 25, 2012, 11:03:08 AM » |
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I have posted on tikays thread but will start a new one so that it doesn't get lost in the current chest thumping. http://www.lvrj.com/business/sports-book-director-for-cantor-gaming-arrested-175670521.htmlCantor Gaming sports book director Mike Colbert was arrested Wednesday in Las Vegas by state gaming agents in connection with a warrant filed by the district attorney in Queens County, N.Y.
Gaming and legal sources confirmed the charges involve PinnacleSports.com, one of the largest offshore sports wagering websites. Sources said agents for the website were arrested in several cities Wednesday. |
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Most of the bets placed so far seem more like hopeful punts rather than value spots
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tikay
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« Reply #1 on: October 25, 2012, 11:16:45 AM » |
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Astonishing, & scary.
What does it all mean though?
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All details of the 2016 Vegas Staking Adventure can be found via this link - http://bit.ly/1pdQZDY (copyright Anthony James Kendall, 2016). |
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Doobs
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« Reply #2 on: October 25, 2012, 11:20:22 AM » |
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Astonishing, & scary.
What does it all mean though?
I am not really sure. It looks like agents for the site that have been used to attract US customers have been arrested. But just because it is currently just a US problem doesn't mean that there is no possibility it will affect others. I guess it is at least worth posting, even if it is shown there is nothing to worry about. |
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Most of the bets placed so far seem more like hopeful punts rather than value spots
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tikay
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« Reply #3 on: October 25, 2012, 11:22:32 AM » |
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Is the site trading normally today for UK residents?
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All details of the 2016 Vegas Staking Adventure can be found via this link - http://bit.ly/1pdQZDY (copyright Anthony James Kendall, 2016). |
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The Camel
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« Reply #4 on: October 25, 2012, 11:24:59 AM » |
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How did the Feds manage to take over the Pokerstars and Full Tilt websites back on Black Friday? (I assume they weren't hosted in the USA)
Why haven't they done the same to Pinnacle?
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Congratulations to the 2012 League Champion - Stapleton Atheists
"Keith The Camel, a true champion!" - Brent Horner 30th December 2012
"I dont think you're a wanker Keith" David Nicholson 4th March 2013
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AndrewT
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« Reply #5 on: October 25, 2012, 12:07:33 PM » |
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How did the Feds manage to take over the Pokerstars and Full Tilt websites back on Black Friday? (I assume they weren't hosted in the USA)
Why haven't they done the same to Pinnacle?
I can only assume that there is a degree of separation with Pinnacle - if agents are taking the US bets and feeding through to Pinnacle then Pinnacle might be able to legitimately claim they had no idea the bets were actually coming from the US? Pure speculation on my part. |
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AndrewT
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« Reply #6 on: October 25, 2012, 04:25:05 PM » |
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doubleup
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« Reply #7 on: October 25, 2012, 04:34:54 PM » |
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Interesting article - the last slightly offtopic bit about Penn Racecourse might involve exchanges. |
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gouty
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« Reply #8 on: October 25, 2012, 04:36:07 PM » |
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Tony G just tweeted he tried to get some money out to no avail.
If you look at the advert on their homepage it states that they paid out more than betfair on last seasons premier league matches to a £10 level stake. Eh? Betfair is near as damn it a 100% book so surely that seems unviable unless I read it wrong.
Punters will learn to stick with UK Gambling Commission registered companies soon. Alderney licences won't be worth a jot if this lot shaft their punters like FTP.
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horseplayer
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« Reply #9 on: October 25, 2012, 04:40:46 PM » |
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Interesting article - the last slightly offtopic bit about Penn Racecourse might involve exchanges. somebody i really respect and who plays the us racing every night and has done for years has not touched penn national for ages makes banded racing look like the derby |
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doubleup
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« Reply #10 on: October 25, 2012, 04:42:12 PM » |
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Tony G just tweeted he tried to get some money out to no avail.
If you look at the advert on their homepage it states that they paid out more than betfair on last seasons premier league matches to a £10 level stake. Eh? Betfair is near as damn it a 100% book so surely that seems unviable unless I read it wrong.
Punters will learn to stick with UK Gambling Commission registered companies soon. Alderney licences won't be worth a jot if this lot shaft their punters like FTP.
Pinny have a ~102.5% book. Betfair have a ~105% book at 5% commission. |
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gouty
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« Reply #11 on: October 25, 2012, 05:18:24 PM » |
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Tony G just tweeted he tried to get some money out to no avail.
If you look at the advert on their homepage it states that they paid out more than betfair on last seasons premier league matches to a £10 level stake. Eh? Betfair is near as damn it a 100% book so surely that seems unviable unless I read it wrong.
Punters will learn to stick with UK Gambling Commission registered companies soon. Alderney licences won't be worth a jot if this lot shaft their punters like FTP.
Pinny have a ~102.5% book. Betfair have a ~105% book at 5% commission. Only if every single bet is a winner and you pay max commission. But I get your point Sir. |
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gouty
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« Reply #12 on: October 25, 2012, 05:23:02 PM » |
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Of course every bet IS a winner in that advert. Clever ad really. How the hell do they pay their exes on 2.5% GP. Fair play to offshore boys I suppose.
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redarmi
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« Reply #13 on: October 25, 2012, 06:48:23 PM » |
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Pinnacle make less than 1% of turnover and probably less than 0.5% of turnover but that turnover is huge. When I say huge I mean figures that you cannot really conceive. They are in the top five of Asian bookies now and I once worked for one of the top five Asian bookies that had a turnover in excess of $20bn a year. Of course pinnacle are also the top US bookmaker and probably in the top ten by turnover for every other continent too. They have a huge volume.
There is only so much I really want to say about these arrests but suffice to say a lot of the cogs that make the US market work seem to be involved and any cogs that make the US market work have links to pinnacle by the very definition of the market. Some are merely bettors albeit very large bettors but others links with Pinnacle may be closer. In terms of pinnacle themselves having done anything illegal I doubt it but that doesn't mean to say that it won't focus the attentions of the US on them. Of more importance probably is the effect that what Cantor or Colbert alone have been doing. From what i can see recently a LOT of the sharp action in the market is emanating from there but whether it is hedging or this guy giving out plays i don't know. Irrespective if it is reaching offshore it is illegal so he is probably in trouble. Ultimately of course none of this should be illegal and is just another example of the US government and attorneys office trying to generate a couple of quid for themselves by fining and arresting people for something which the government tax and shouldn't be illegal in the first place. Ridiculous really
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The Camel
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« Reply #14 on: October 25, 2012, 06:54:49 PM » |
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Does anyone know if you can access and bet on a UK pinny account while in the US?
Betfair you can't, but plenty of other bookies take bets while you are in the USA.
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Congratulations to the 2012 League Champion - Stapleton Atheists
"Keith The Camel, a true champion!" - Brent Horner 30th December 2012
"I dont think you're a wanker Keith" David Nicholson 4th March 2013
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