Offshore Gambling Site Stops Taking U.S. Bets

Pinnacle Sports, an offshore gambling enterprise located in Curacao, has stopped taking bets from residents of the United States.

Pinnacle officials said the move is tied to the Unlawful Internet Gambling Enforcement Act, which prohibits the use of credit for illegal gambling.

“After careful consideration, Pinnacle Sports has chosen to voluntarily exit the American market,” the company said on its Web site. “Accordingly, wagers will no longer be accepted from clients located in the United States as of (Jan. 11).”

The company said it would continue to service clients in Canada and other countries. It also said the balances of U.S. customers would have to be cashed out.

Pinnacle officials said that since passage of the legislation last year, the company has had trouble doing business with banks. The company said about 40% of its business comes from outside the U.S., with Europe and Asia the growth markets.

On its Web site, Pinnacle lists about 20 racetracks on which it would take bets Jan. 12. The company also listed proposition wagers on several races.