This post is directed at Jimbo:
I read in an earlier post you mentioned that at PinnacleSports you receive a 7% rebate no matter what. This intrigued me to the point that I went to check out the site. I am now seriously considering opening an account there, but am looking for a little more info first. What is the procedure, exactly, on the rebates? Is the 7% credited monthly, yearly or what? Any additional info you or anyone else using Pinnacle would be greatly appreciated.
Thanks in advance Jimbo.
Overlays to all and to all a good night!!!
-Bull
You receive the rebate the next day credited to your account.
Thank you much, Mrhill
- Bull
Bull,
Looks like you already got your answer, but yes it is credited overnight. Usually hits about 6 am EST.
If you bet more than horses, Pinnacle is also attractive. -105 on football and hoops and -104 on baseball.
Of course if you are a \"cold streak\", not even rebates and better \"vigs\" help! :)
Be Aware, there isn\'t a rebate on payoffs of $2.20 or $2.10. Also there are some limits on payoffs but those probably would not affect 99% of the players using Pinnacle. Anyway, I love that 7% bonus each morning and am wondering how long this will go on. I keep expecting the rebate to be withdrawn. They (pinnacle) must be doing very well. Why would you bet with anyone else such as TVG, Youbet or xpressbet?
Ron
Has anyone tried to cash out?
How well did it go?
I have never had a problem, though I only withdrawal once a month (most months, anyway, LOL, sometimes I lose.) I think there are fees if you try to withdrawal too many times, but I don\'t remember. I know it is all spelled out on the web site.
CH,
I withdraw and deposit all the time. Not a problem in the time I have been using them. I have had scores on multi-race bets for 20k and 30k this year and they paid.
They will either fedex you a check or do a bank wire. Either way, the trick is not getting paid, but getting paid in increments that don\'t trigger any IRS audits. Even if I want to withdraw 20k, what I do is break it into three separate wires of 7k, 7k and 6k. I have heard that 10k is a limit that you should avoid when doing Western Unions, bankwires, cashing checks, etc.etc.
If you are a \"pick-6\" player, you shouldn\'t use them though. They don\'t take this bet, they stop at pick-4. You are not betting into the pools, you are betting with a bookmaker. However, their \"limits\" are not what a lot of bookmakers have (many shops limite WPS at 15-1, 8-1 and 2-1 respectively, and 100-1 on exactas and doubles. They pay track odds at Pinnacle. There is a \"cap\" of profit per race, based on size of the track. The bigger circuits are capped at 50k, so if you lucky enough to hit a trifecta that paid 60k, you would only get 50.
Ron,
I wouldn\'t worry too much about them taking the rebates away. The track takeout is substantially bigger than 7%, so you still have to be a very sharp and disciplined gambler to win at horseracing, even with the rebate.
It certainly helps your chances though!
Fellas, we got a problem. I can\'t let this discussion go on here, and not just because we have a businees relationship with a rebate shop ourselves. Pinnacle, which approached us to form a relationship, is a bookmaker-- aside from the legal questions of betting into them, they are not parimutuel. The industry does not get its share, it doesn\'t go into purses, etc., which makes the folks at Equibase very upset-- they are owned by the tracks, and they sell us our raw data.
For the record-- we have a relationship with a legal, parimutuel rebate outfit. If you bet at least 5k a week and live in a state where it is legal, you can contact me about it.
I\'m in Belgium, perfectly legal here. Actually, the US tracks don\'t want my money apparently, so what choice do I have?
I should mention I\'m a US citizen in the military, and still can\'t get TVG, YouBet, or BrisBet to take my action. Its a joke.
Post Edited (12-16-04 15:10)
Hey Jerry,
Sorry, I was a little reluctant to post about Pinnacle because I know you have relationship with other \"parimutuel\" services. Jimbo had brought them up in a previous post, and it had sparked my interest. I did not mean to cause a stir on the board or promote another non parimutuel site. I was just looking for a little more information about Pinnacle. It seems that contacting Jimbo privately through an email may have been more appropriate, I guess. To all of those that did offer their insights, many thanks. To Jerry, my apologies.
Back to handicapping, fellas.
Happy Holidays to all!!!
-Bull