Pinnacle Lending Group overcharges their borrowers on every single loan that they make so that its' owner Rob Rink can make more money off of each loan at the borrower's expense. I quit Pinnacle because they overcharge every borrower and because the processor would put my borrowers loans at the end of the line and only processed them after they. Pinnacle Game Profiler is a program that allows you to emulate your keyboard and mouse with your video game controller, and otherwise customize the controller's behavior.

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The Washington State Department of Financial Institutions (DFI) received a complaint from a consumer that related to transactions entered into with Pinnacle Finance Group. The consumer alleged that as part of a loan agreement with this entity, the consumer was required to buy insurance before receiving a loan. The consumer also alleged that Pinnacle Finance Group instructed the consumer to pay for the insurance with a GreenDot MoneyPak card. The consumer further alleged that after payment was made to Pinnacle Finance Group the funds for the loan were never received.

Pinnacle Finance Group is not licensed with DFI and is not registered to do business with the Washington Secretary of State or Department of Revenue.

The entity’s phone number was listed as 1-800-597-0417. The entity’s mailing address was listed as 4701 Atlantic Ave Ste 111, Raleigh NC 27604. However, this address does not appear to be the actual address for this entity. The entity that was formally associated with this address is Pinnacle Finance, Inc, who provides automobile loans in North Carolina.

Further investigation of the entity’s phone number, 1-800-597-0417, has lead to an apartment complex in Canada at 1 Dean Park Rd, Scarborough, Ontario M1N 2W5. No other information is known.

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the 'Verify a License' feature on the DFI’s website at www.dfi.wa.gov.

Report Fraud

If you are suspicious of unlicensed activity by a consumer lender in Washington state please contact the Department of Financial Institutions at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357), or online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

Pinnacle (formerly known as Pinnacle Sports) is an online gaming website that was founded in 1998. Since its inception, Pinnacle has become a medium-sized, fully licensed, online sportsbook. Pinnacle Sports rebranded to Pinnacle on June 1, 2016^[1] after acquiring the pinnacle.com domain name.^[2]

Presently, the company has customers in over 100 countries and is available in 19 (including international English) different languages. While most of the company information, including number of employees and gross revenues are kept private, Michael Konik, author of The Smart Money, believes 'it would not be out of line to guess that their [Pinnacle Sports] annual handle is in the billions of dollars.'^[3]

Pinnacle headquarters are located on the island of Curaçao of the Kingdom of the Netherlands, and the group is fully licensed and regulated by the Government of the Netherlands Antilles (license number: 8048/JAZ2013-013),^[4] which also functions as the regulating body for the gaming industry. On March 19, 2015 Pinnacle announced the award of a Class II Remote Maltese Gaming Licence,^[5] MGA/CL2/1069/2015 for the provision of sports betting.

Regulation requires that Pinnacle must maintain sufficient funds to be able to honour the winnings of their customers at all times.

Reduced margin pricing[edit]

When Pinnacle began trading in 1998, most gaming companies used bonuses to lure potential customers. Rather than offer sign up or reload bonuses, Pinnacle became the first sportsbook to introduce a reduced margin pricing model or reduced juice, thus deriving profit from lower margins but a far higher turnover. Pinnacle began offering -105/-104 ($1.95-$1.96) prices on head-to-head match odds and spreads, significantly undercutting the standard -110 ($1.91) pricing model that was used by its competitors.

Pinnacle is able to operate under this pricing model by posting opening 'overnight' lines with smaller limits. This allows Pinnacle to shape their lines according to the betting activity of 'sharp' bettors without exposing the book. These early, low limit bets ultimately allow Pinnacle to offer betting limits with confidence as high as $50,000 or more on selected games with their low margin pricing model.

In an episode of The Sopranos, Tony is informed by a hospital neighbor (a shot rapper) that the neighbor got down a $50,000 bet on a boxing match they were watching at favorable odds from 'Pinnacle, man...Pinnacle!'

Casino[edit]

Although Pinnacle is best known for its sports betting service, Pinnacle has also operated an online casino since September 2004.

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The site offers the following casino games, in cash, high-stakes cash and a free play format:

• Oasis poker
• Hold’em poker
• Three card stud poker
• Single line slots
• Multi-line slots
• Progressive slots

Poker[edit]

In August 2008, Pinnacle entered the online poker realm, in hopes of taking advantage of the online poker phenomenon. Pinnacle’s poker room was run and operated by Entraction software. The same poker network is used by other online gaming websites, such as Betdaq, I4Poker and Redbet.^[6]

In June 2011, Entraction informed Pinnacle that due to changes in EU gaming regulation their Curaçao license was no longer accepted. Pinnacle closed their poker room on 13 June 2011 stating “the steps required to remain within the Entraction Network will necessitate a significant commitment for Pinnacle Poker. Given that our current focus is on developing our leading Sportsbook and Casino products, we have decided not to pursue the necessary changes.^[7]

eSports[edit]

In 2010, Pinnacle was one of the first global bookmakers to offer odds on eSports. What began initially as an experiment quickly turned into a major market which has doubled in size for four consecutive years (2010 to 2014). According to Pinnacle, eSports is now the 7th largest market for them in terms of volume, exceeding regular sports like golf and rugby. Pinnacle reached the milestone of a total of one million eSport bets in December 2014, and five million in February 2017.^[8] In the rank of money volume wagered, in 2018 the eSports has become the fourth most popular sport and could clinch number two in a few years.

Drone racing[edit]

In 2016 Pinnacle was the first bookmaker to offer odds on drone racing.^[9] On October 5 Pinnacle announced:

Starting with the 2016 Drone Racing World Championships first event at the Kualoa Ranch in Hawaii (October 20–22) Pinnacle will initially offer odds on the outright winner to gauge interest in the market.

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Exit from US market[edit]

On January 11, 2007, in what was considered a controversial move, 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, which was passed on September 30, 2006. The law, which was a last minute addition to Security and Accountability For Every Port Act, stipulates that “participants in designated payment systems to establish policies and procedures reasonably designed to identify and block or otherwise prevent or prohibit transactions in connection with unlawful Internet gambling.”^[10] At the time, Pinnacle Sports posted the following message to their U.S. based customers:

After careful consideration, Pinnacle Sports has chosen to voluntarily exit the U.S. market. Accordingly, wagers will no longer be accepted from clients within the U.S. as of Thursday, January 11, 2007.

At the time of the announcement, nearly 60-65% of Pinnacle’s customers were based in the United States.^[11] Passage of the legislation led Pinnacle to have problems with transactions involving US banks.^[12] Shortly after the decision, an executive at Pinnacle was quoted as saying: 'When the U.S. focuses on something and says 'Enough,' and when they go to war, no individual company can possibly win in a fight of this nature.' The executive also reportedly said that 'since the Internet Gambling Bill went into effect, we have lost the ability to do business with many quality banks.'

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After the decision, Pinnacle teamed up with World Sports Exchange (WSEX) to offer their US based customers an alternative to their website. At customer’s requests, Pinnacle willingly transferred all money left in US based accounts to new accounts at WSEX.

On December 19, 2008, Pinnacle ceased offering odds on North American horse racing. Although no official reason was given, it is believed this decision was made due to ongoing pressure from the U.S. government, as well as a general decline in interest from their non US based customers.^[13]

Notes[edit]

1. ^pinnacle.com Pinnacle Sports rebrands to Pinnacle
2. ^dotweekly.com Pinnacle Sports acquires Pinnacle domain
3. ^After Pinnacle, It's All Downhill From Here, washingtonpost.com, 17 January 2007, accessed 18 April 2009.
4. ^Pinnacle Sports Review, esports-betting.pro
5. ^www.pinnacle.com Malta License Press Release
6. ^Entraction CustomersArchived 2009-04-22 at the Wayback Machine.
7. ^Pinnacle Poker closed due to updates to EU poker regulation^{[permanent dead link]}.eog.com, July 20th, 2011
8. ^Zalik, Dejan (9 February 2017). 'Pinnacle Reaches Massive Milestone In Esports Betting With Five Millionth Bet Placed'. EsportsBets.com. Retrieved 14 February 2017.
9. ^Pinnacle first to offer betting on Drone Racing
10. ^Internet Law - Implementation of the 2006 Unlawful Internet Gambling Enforcement Act is Coming, ibls.com, 8 October 2007, accessed 18 April 2009.
11. ^Pinnacle Sports stops accepting U.S. bets, casinocitytimes.com, 11 January 2007, accessed 18 April 2009
12. ^Offshore Gambling Site Stops Taking U.S. Bets, bloodhorse.com, 12 January 2007, accessed 18 April 2009.
13. ^Pinnacle Sports halts US horse racing service, reviewed-casinos.com, 19 December 2008, accessed 19 April 2009.

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