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FOR IMMEDIATE RELEASE
PINNACLESPORTS.COM TO CHANGE BUSINESS MODEL
Online Sportsbook Admits Error In Offering Reduced Juice On All Sports
WILLEMSTAD, CURACAO (April 1, 2006)-Leading online sportsbook
PinnacleSports.com today announced that the company will be changing its'
business model by no longer offering reduced juice wagering on sporting
events that offers bettors up to 60% better value than other sports books.
Following advice from management consultants, Pinnacle will begin offering
traditional 20 cent lines on all major sports immediately - a major change
from the current low margin betting options, but one that will increase
profits substantially at the player's expense.
"Although we pioneered reduced margin wagering, the recent figures
reported by numerous companies that deal a 20 cent line or higher have
made us realize we're simply giving our customers too good a deal," said
Simon Noble of PinnacleSports.com. "This is a dramatic shift in our
business model, but the bottom line is that we will make more money from
bettors this way. We believe all our customers who have benefited from our
low juice offerings will continue to bet with Pinnacle even though they'll
no longer save so much money on every bet they make. Instead, low juice
wagering will be replaced by a 'Pinnacle Pussycats' swimsuit calendar and
a regular column from a former playmate, while our linesmakers will be put
to work devising ways of dealing dual lines and moving on air
effectively."
In addition to restructuring betting margins, PinnacleSports.com has also
decided to reduce betting limits to a maximum limit of $200 per bet. The
executive team has also stipulated that Pinnacle Sports will be
implementing a no wise-guy and no syndicate policy. With the Final Four
and start of baseball season this weekend, Pinnacle has determined that
the best way to proceed in the future is to open betting on sporting
events only an hour or two before the game starts so that the line can be
sharpened elsewhere.
"We've thoroughly examined the marketplace and after meeting with
management consultants, we realize it makes sense to not only increase the
juice, but to also decrease wager limits, discourage professional players
and only give bettors an hour or two to bet on games before they start,"
continued Mr. Noble. "While we opened betting on the Final Four games
before the conclusion of the Florida/Villanova game Sunday, that will be a
thing of the past, as we hope to follow in the footsteps of the
trendsetters that guarantee to open betting by mid-day before an event."
To kickoff the business restructuring, PinnacleSports.com plans on
throwing an extravagant party at a nightclub in Curacao headlined by C and
D list celebrities. Additionally, the company is in negotiations to
produce a made for TV miniseries set to air at 3 a.m. on Saturdays on
public access television. Pinnacle has also announced its intentions to
purchase a fleet of Harley Davidson motorcycles using the company's
increased profits generated at the player's expense so that Mr. Noble can
appear at various events around the country with the 'Pinnacle Pussycats'.
For more information, please visit www.pinnaclesports.com.
PINNACLESPORTS.COM TO CHANGE BUSINESS MODEL
Online Sportsbook Admits Error In Offering Reduced Juice On All Sports
WILLEMSTAD, CURACAO (April 1, 2006)-Leading online sportsbook
PinnacleSports.com today announced that the company will be changing its'
business model by no longer offering reduced juice wagering on sporting
events that offers bettors up to 60% better value than other sports books.
Following advice from management consultants, Pinnacle will begin offering
traditional 20 cent lines on all major sports immediately - a major change
from the current low margin betting options, but one that will increase
profits substantially at the player's expense.
"Although we pioneered reduced margin wagering, the recent figures
reported by numerous companies that deal a 20 cent line or higher have
made us realize we're simply giving our customers too good a deal," said
Simon Noble of PinnacleSports.com. "This is a dramatic shift in our
business model, but the bottom line is that we will make more money from
bettors this way. We believe all our customers who have benefited from our
low juice offerings will continue to bet with Pinnacle even though they'll
no longer save so much money on every bet they make. Instead, low juice
wagering will be replaced by a 'Pinnacle Pussycats' swimsuit calendar and
a regular column from a former playmate, while our linesmakers will be put
to work devising ways of dealing dual lines and moving on air
effectively."
In addition to restructuring betting margins, PinnacleSports.com has also
decided to reduce betting limits to a maximum limit of $200 per bet. The
executive team has also stipulated that Pinnacle Sports will be
implementing a no wise-guy and no syndicate policy. With the Final Four
and start of baseball season this weekend, Pinnacle has determined that
the best way to proceed in the future is to open betting on sporting
events only an hour or two before the game starts so that the line can be
sharpened elsewhere.
"We've thoroughly examined the marketplace and after meeting with
management consultants, we realize it makes sense to not only increase the
juice, but to also decrease wager limits, discourage professional players
and only give bettors an hour or two to bet on games before they start,"
continued Mr. Noble. "While we opened betting on the Final Four games
before the conclusion of the Florida/Villanova game Sunday, that will be a
thing of the past, as we hope to follow in the footsteps of the
trendsetters that guarantee to open betting by mid-day before an event."
To kickoff the business restructuring, PinnacleSports.com plans on
throwing an extravagant party at a nightclub in Curacao headlined by C and
D list celebrities. Additionally, the company is in negotiations to
produce a made for TV miniseries set to air at 3 a.m. on Saturdays on
public access television. Pinnacle has also announced its intentions to
purchase a fleet of Harley Davidson motorcycles using the company's
increased profits generated at the player's expense so that Mr. Noble can
appear at various events around the country with the 'Pinnacle Pussycats'.
For more information, please visit www.pinnaclesports.com.
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