Pinnacle recently made the Bitcoin payment option available to its European customers. This became possible with the use of Bitpay, a cryptocurrency payment processor. Bitcoin players need to take note of Pinnacle’s terms for the new payment option.
The addition of Bitcoin payment makes Pinnacle one of the few Malta Gaming Authority (MGA) licensed online bookmakers to support cryptocurrencies. There are many reasons why players who use Bitcoin should be excited for the inclusion of cryptocurrency payments on Pinnacle.
How Bitcoin Payment Works on Pinnacle
All Bitcoin balance that punters deposit into their Pinnacle account will turn into fiat currency. Pinnacle does not allow its punters to hold any amount of Bitcoin in their account at this time. All wagers on the site are in fiat currency. Players can turn their bankroll back to its cryptocurrency form when they transfer their money to their Bitcoin wallet.
There are no charges for Bitcoin deposits. Pinnacle said it will cover fees associated with Bitcoin payment. Punters can also expect their Bitcoin deposits to go through within an hour. The only limitation with the crypto deposit option is the maximum limit of €8,000 per day.
Withdrawals of Bitcoin, on the other hand, are heavily limited on Pinnacle wherein players can only withdraw up to €2,000 worth of coins per day. Pinnacle allows one free Bitcoin withdrawal per month while succeeding withdrawals include a €12 fee. There is an additional three-percent charge of the deposit value on withdrawals if punters did not make the required roll-over of three times the deposit amount. Pinnacle does not cover the miner fee associated with Bitcoin withdrawals as well.
Before players can use the Bitcoin payment options, they are required to submit documented proof of their identity and address. They can do this through the Personal Details section on their Pinnacle account. This is a KYC compliance requirement from the MGA.
While Bitpay recently added Bitcoin Cash support last December, there are no statements from Pinnacle about adding Bitcoin Cash payment. Time will tell if the demand is high enough to warrant an alternative cryptocurrency option in the future.
Reasons to Spend Bitcoin on Pinnacle
The main draw of Pinnacle is its low-juiced bets. This means the profit margin of the sportsbook is lower than other wagering sites. With reduced juiced betting lines, punters will get the most of their profits when they win their wagers.
Pinnacle features plenty of sports markets for punters to bet on. It offers odds for popular sports matches like Premier League, NBA, and the NFL. There are also esports betting markets for games such as Dota 2, CS:GO, and League of Legends.
Outside of Pinnacle’s sports betting section is a solid casino portfolio. Players can find more than 656 video slots, 133 table games, 51 video poker variants, and nine live dealer games in the Favourite Casino portion. There are more casino titles from different software providers under the Featured Casino tab.