At first glance important trade/lobbyist bodies within the U.S. including the American Gaming Association (AGA) plus new sportsbooks entering the states would consider it a champagne celebration learning offshore gaming titan 5Dimes has announced suspending service to U.S. customers.
Their notice to players read: At midnight Sept. 21 in order to “Take advantage of the opportunity to offer improved online sports betting experience to our many U.S. customers we will be suspending operations in order to achieve a fresh start.”
The announcement was posted on their 5Dimes website and a notice was also immediately sent to all their customers. The reasoning referenced “the evolving legal landscape in the U.S. and suggested it will relaunch as a legal entity in some sports betting states within the U.S.
Most important to their U.S. based customers, 5Dimes will remain open to U.S.-based accounts until 12 a.m. on Sept. 21, and customers will have until 12 a.m. Sept. 25 to request balances. If accounts are not claimed by midnight Sept. 30 they will be turned over to a “third-party claims administrator,” and considered abandoned a year later Sept. 30, 2021.
It is speculated that U.S. legal forces have been putting subtle pressure on 5Dimes over the past several months. Their high visibility and success covering the U.S. market over the past fifteen years has made them a target along with a select number of other offshore sportsbooks that have achieved similar success.
5Dimes has been known for several years for their reputation offering “reduced juice” (or vigorish) to customers. Also, for their credibility including fast, safe payouts with little risk. Excellent customer service and reliability.
Founded originally in 1996 in San Jose, Costa Rica, 5Dimes offers sports wagering, poker, bingo, casino, and other table games to several countries. It was founded by William Sean “Tony” Creighton, who was discovered dead last year after mysteriously missing in Costa Rica.
In 2016, the Department of Homeland Security revealed it was investigating 5Dimes for money laundering, according to a seizure warrant filed in U.S. District Court that year. In the warrant, an agent detailed how he believed 5Dimes instructed bettors based in the U.S. to use gift cards as a method to place and later cash out bets. The federal government had never brought charges against 5Dimes or Creighton however the investigation remains open.
It is also possible this reformulation may be a spinoff toward a legal, licensed entity into the U.S. at some later date. Of course, that is contingent upon legal guidelines and licensing procedures within each individual U.S. state. From a database perspective, it would be hard to imagine any other company having a deeper player pool to source and develop than 5Dimes.
The oddest facet is the timing of the announcement. Selecting the dawn of the NFL season has many completely puzzled. The anticipated next answers will likely come in the upcoming press releases from 5Dimes itself or possibly from other outside sources.
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Larry Gibbs is both a seasoned journalist and a respected online gaming industry consultant. His wry commentary & sharp analysis have appeared in numerous top gaming and sports wagering publications. He has also served as Vice President of US Gaming Services, a marketing research organization with 15 years of experience in US online wagering. He has spoken at noted gaming industry conferences including G2E, GiGSE, and NCLGS.
Email: [email protected]
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