Pinnacle sports $50,000 litecoin withdrawal NOT ACTUALLY SENT PLEASE HELP THEY ARE UNRESPONSIVE

leafsfan1967

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Jan 22, 2022
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It’s been two days now and the only update pinnacle will give me is that they are reviewing the matter. No acknowledgement. Nothing.

basically yesterday morning they processed on their end a $50,000 litecoin withdrawal and deducted it from my pinnacle account. Trouble is they never actually sent or their processor never actually sent the litecoin to the address specified for the withdrawal. So I never got anything. They said it should be instant and that on their end it was considered processed. But when I check the wallet and the blockchain for the address - which they acknowledge is the one used for the withdrawal- there is no record of them or anybody sending this amount at any time.

They are being unresponsive and vague.
What do I do?

it’s easy to prove they didn’t send it as the blockchain shows no record of the transaction at all.
I’d welcome any suggestions. I’ve used them for years and never had any issues but am shocked at how unresponsive and little information they’re providing. A simple acknowledgment that the litecoin wasn’t sent can’t even be provided even though I’ve asked 5 times now. I’m trying to be patient and understanding but given the amount involved and that it’s been two days, I’m quite worried.
 

sportsbettor5

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It’s been two days now and the only update pinnacle will give me is that they are reviewing the matter. No acknowledgement. Nothing.

basically yesterday morning they processed on their end a $50,000 litecoin withdrawal and deducted it from my pinnacle account. Trouble is they never actually sent or their processor never actually sent the litecoin to the address specified for the withdrawal. So I never got anything. They said it should be instant and that on their end it was considered processed. But when I check the wallet and the blockchain for the address - which they acknowledge is the one used for the withdrawal- there is no record of them or anybody sending this amount at any time.

They are being unresponsive and vague.
What do I do?

it’s easy to prove they didn’t send it as the blockchain shows no record of the transaction at all.
I’d welcome any suggestions. I’ve used them for years and never had any issues but am shocked at how unresponsive and little information they’re providing. A simple acknowledgment that the litecoin wasn’t sent can’t even be provided even though I’ve asked 5 times now. I’m trying to be patient and understanding but given the amount involved and that it’s been two days, I’m quite worried.
Read my thread here about my very recent experience with Pinnacle.

I didn't explain this in the thread, but after >100 hours of not processing my withdrawal request, they "approved" part of it and deducted that portion from my balance yet they never sent the funds as the withdrawal was still "under review". Eventually (155 hours after initial request) they got around to fixing the problem.

Are they actually claiming that they "processed" the withdrawal sent the funds? It seems like their order of operations is:

1) client requests withdrawal
2)Pinnacle approves the request
3) Client clicks the "confirmation" link that Pinnacle sends to client
4) (only in some cases?) Pinnacle "reviews" the withdrawal request
5) Pinnacle "processes" the withdrawal request and sends the funds.

When they finally paid me, they quickly sent an e-mail including the following language:

"Please be informed that the funds have been transferred to you. Kindly see the below screenshot for your reference."

Did you receive a similar e-mail?
 

leafsfan1967

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Hey. Thanks for this. They’re claiming they processed it and sent the funds (so after step 5 above) but it clearly wasn’t sent to the litecoin address. It’s easy to check the blockchain. So clearly it’s an issue with their processor. But they’re being really sketchy about acknowledging it and not replying to my emails except to say that the appropriate department is reviewing it. It’s just super weird. I’ve done a ton of crypto withdrawals with them and never had this issue and not sure why they can’t be more transparent about what is happening.
I also have a very large remaining balance and getting super nertvous about them paying out now. This is in addition to the 50k that’s gone missing.

they never sent a confirmation email. It’s a cut and dry case as the litecoin address was never sent the funds. I don’t get it.
 

leafsfan1967

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I also have a very large remaining balance and getting super nertvous about them paying out now. I’ve made withdrawal requests that are processing and haven’t been processed for over a day which is fine but they typically process it within a few hours. I feel they’re holding this back for some reason. I don’t know if and when they will pay this out. This is in addition to the 50k that’s gone missing.
 

sportsbettor5

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Hey. Thanks for this. They’re claiming they processed it and sent the funds (so after step 5 above) but it clearly wasn’t sent to the litecoin address. It’s easy to check the blockchain. So clearly it’s an issue with their processor. But they’re being really sketchy about acknowledging it and not replying to my emails except to say that the appropriate department is reviewing it. It’s just super weird. I’ve done a ton of crypto withdrawals with them and never had this issue and not sure why they can’t be more transparent about what is happening.
I also have a very large remaining balance and getting super nertvous about them paying out now. This is in addition to the 50k that’s gone missing.
Yes, after my most recent nightmare experience with them, I think the most charitable interpretation is that they have allowed some morons to take senior positions in their payouts team and elsewhere while at the same time being severely understaffed.

If the situation is as you describe, then I would be pretty surprised if they didn't straighten this out. I strongly recommend that you file a complaint with BMR. Keep your description to BMR very brief as their Pinnacle arbitrator has a lot on his plate. Also be aware that many players are watching your case and Pinnacle would be foolish to fail to pay you.
 

leafsfan1967

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Yes, after my most recent nightmare experience with them, I think the most charitable interpretation is that they have allowed some morons to take senior positions in their payouts team and elsewhere while at the same time being severely understaffed.

If the situation is as you describe, then I would be pretty surprised if they didn't straighten this out. I strongly recommend that you file a complaint with BMR. Keep your description to BMR very brief as their Pinnacle arbitrator has a lot on his plate. Also be aware that many players are watching your case and Pinnacle would be foolish to fail to pay you.
Thanks for this. I did file a complaint and kept it brief and forwarded them the correspondence with Pinnacle as was requested.

hopefully they get this straightened out and there are no issues. I hesitated to file a complaint and make this forum post however their complete refusal to acknowledge the issue, the absence of proper responses and my overall gut feeling that something feels off prompted me to do this. I’ll definitely report back once I hear from them and (hopefully) all my withdrawals are actually processed.
 

hazliam

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I wonder is it possible an employee added a line of code: Customer makes withdrawal, Pinny pays, Funds get deducted and sent to alternative wallet.
 

DontTailMe

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My guess is it's probably just a delay + miscommunication between Pinnacle and their provider. From Pinnacle agent perspective, the payment has been "processed". This type of confusion happens often at sportsbooks. While I can understand why you'd be anxious at that amount, I'm optimistic that things will work out. Best of luck.
 

leafsfan1967

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Hi all. A representative from this website’s complaint department kindly contacted me and said a couple hours ago he would reach out to his pinnacle contact.

About 30 mins ago I heard from pinnacle saying that the litecoin will be sent tomorrow. I’ll let you know when I receive it. I also have a 6 figure balance remaining I’ve requested to withdraw with bitcoin and it’s been almost 48 hours and they don’t have a timeframe for processing those. I’ll also let this group know if and when I receive those funds.
 

BigJay

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Several issues recently don’t reflect well with Pinny.

You wouldn’t think they’d be ones to play the “wait to send until the price of crypto is more advantageous to us” game but it appears they are doing just that.
 

BMR Forum

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Hi all. A representative from this website’s complaint department kindly contacted me and said a couple hours ago he would reach out to his pinnacle contact.

About 30 mins ago I heard from pinnacle saying that the litecoin will be sent tomorrow. I’ll let you know when I receive it. I also have a 6 figure balance remaining I’ve requested to withdraw with bitcoin and it’s been almost 48 hours and they don’t have a timeframe for processing those. I’ll also let this group know if and when I receive those funds.
Thanks for updating the board. Let us know once you receive the payout.
 

DontTailMe

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Several issues recently don’t reflect well with Pinny.

You wouldn’t think they’d be ones to play the “wait to send until the price of crypto is more advantageous to us” game but it appears they are doing just that.
I don't think anyone actually plays this game. It presumes that they're able to time the market. And if you are able to consistently time the market, then you should be a mega millionaire by now, not wasting time posting on this forum.
 

leafsfan1967

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Several issues recently don’t reflect well with Pinny.

You wouldn’t think they’d be ones to play the “wait to send until the price of crypto is more advantageous to us” game but it appears they are doing just that.
 

leafsfan1967

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As an update, today I asked for updated timing on the bitcoin withdrawals requested for significant amount (six figures). These were submitted the last couple of days. I asked for an update on when they might be processed and they say it’s subject to a random review/audit at the relevant department and are unable to intervene with that process and unable to provide a timeframe. These are all legit winnings so no idea why they continue to hold things up for me.

I’ll follow up with this group once I get the withdrawals. Hopefully soon but not sure
 

leafsfan1967

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Hi all - I received the litecoin today but got the equivalent (measured at the time of processing) of only 45,500 CAD. I’ve followed up with pinnacle about why such a large discrepancy to 50,000 CAD. Will let you know what happens here.

I have not heard anything on the bitcoin withdrawals of my very large remaining balance. Some have been pending for 3 days now. Very strange. I am hesitant to ask them for an update as I anticipate getting the same response about them not being able to tell me when they will process it.
 

DontTailMe

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Hi all - I received the litecoin today but got the equivalent (measured at the time of processing) of only 45,500 CAD. I’ve followed up with pinnacle about why such a large discrepancy to 50,000 CAD. Will let you know what happens here.

I have not heard anything on the bitcoin withdrawals of my very large remaining balance. Some have been pending for 3 days now. Very strange. I am hesitant to ask them for an update as I anticipate getting the same response about them not being able to tell me when they will process it.
9.89% is a lot, but crypto has been awful the last couple of days too. Did you check to see what the value of it was when it was sent? It's very possible that it lost significant value between them sending it and you looking at it. That might account for some of that drop. Maybe the rest is in their hidden conversion fees being discussed and challenged in the other Pinnacle withdrawal thread.
 

sportsbettor5

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Hi all - I received the litecoin today but got the equivalent (measured at the time of processing) of only 45,500 CAD. I’ve followed up with pinnacle about why such a large discrepancy to 50,000 CAD. Will let you know what happens here.

I have not heard anything on the bitcoin withdrawals of my very large remaining balance. Some have been pending for 3 days now. Very strange. I am hesitant to ask them for an update as I anticipate getting the same response about them not being able to tell me when they will process it.
Multiple people on Reddit were attacking me for saying this kind of treatment of clients is unreasonable. Either Pinnacle has some paid posters on certain sites or there is a significant contingent of people out there who are pro-theft.

I think it's fair to conclude that Pinnacle did not embrace the crypto revolution the way BOL, BM and many soft books did and will pay the price for this now in reputational damage.
 

hazliam

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Hi all - I received the litecoin today but got the equivalent (measured at the time of processing) of only 45,500 CAD. I’ve followed up with pinnacle about why such a large discrepancy to 50,000 CAD. Will let you know what happens here.

I have not heard anything on the bitcoin withdrawals of my very large remaining balance. Some have been pending for 3 days now. Very strange. I am hesitant to ask them for an update as I anticipate getting the same response about them not being able to tell me when they will process it.
Litecoin transaction should be instant or near so. Even if the process was stuck with their payment processor, there should not be a big difference between the amount sent.

The only problem from your side would be they sent you $50K and the time between you received the money to the time you saw it there was a drop.
 
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