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Pinnacle to Leave UK Market

Internet betting firm Pinnacle Sports has announced that it will be leaving the UK gambling market at the end of September due to the country's new licensing and tax regulations.

Pinnacle Sports announced the move in an email to customers and affiliates. The note says that all clients will be allowed to bet until 11:59pm BST on September 30th. After that deadline punters will only be able to withdraw funds from the site.

The advisory to players read: "Due to imminent changes to British gambling licensing regulations, Pinnacle Sports will after September 30th, 2014, be unable to offer our services to any players resident in Great Britain.

"This statement is intended to provide clarity on the implications for existing British players:

"Amendments to the Gambling (Licensing and Advertising) Act come into force on October 1st, 2014 requiring all companies that advertise or provide gambling services to British residents to obtain a licence from the British Gambling Commission.

"The new restriction is specific only to players whose account details indicate they are resident in Great Britain."