01/11/2007 12:00AM

Sports book cuts off U.S. bettors

Email

Pinnacle Sports, a Curacao-based offshore Internet sports book and casino, stopped taking bets from U.S. citizens as of Thursday, citing a law that prohibits U.S. banks from doing business with online casinos.

Pinnacle is advising U.S. customers to withdraw money from their accounts. An advisory posted on the company's website said that "we assure all our clients your balances are available."

Last year, U.S. lawmakers passed a bill that prohibited financial institutions from allowing U.S. citizens to deposit or withdraw money from Internet casinos. Language determining how the prohibition will be enforced has yet to be drafted.

Pinnacle said in its advisory that "after careful consideration," the company has "chosen to voluntarily exit the U.S. market."