Posted:
#1
Anyone else get this alert?
5Dimes shutting down for US customers?
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Views: 1412
Posts: 21
Posted:
#16
Quote Originally Posted by Jet_Mutley:
Obviously, Covers.com is full of folks that don't have a clue. There's no problem with 5dimes, just getting a slight face lift. If you don't know why they do this, then there's no point explaining.
Obviously, Covers.com is full of folks that don't have a clue. There's no problem with 5dimes, just getting a slight face lift. If you don't know why they do this, then there's no point explaining.
I could see them coming back as a different website.
Q. Is 5Dimes closing permanently for U.S. players? If not, are there plans to come back to the U.S. market and when approximately?
A. No, we will be back, better than ever and hopefully very soon!
Posted:
#17
Quote Originally Posted by TheBallDontLie:
Quote Originally Posted by Jet_Mutley: Obviously, Covers.com is full of folks that don't have a clue. There's no problem with 5dimes, just getting a slight face lift. If you don't know why they do this, then there's no point explaining. I could see them coming back as a different website. Q. Is 5Dimes closing permanently for U.S. players? If not, are there plans to come back to the U.S. market and when approximately? A. No, we will be back, better than ever and hopefully very soon! https://www.5dimes.eu/action-required-faqs.html
Quote Originally Posted by Jet_Mutley: Obviously, Covers.com is full of folks that don't have a clue. There's no problem with 5dimes, just getting a slight face lift. If you don't know why they do this, then there's no point explaining. I could see them coming back as a different website. Q. Is 5Dimes closing permanently for U.S. players? If not, are there plans to come back to the U.S. market and when approximately? A. No, we will be back, better than ever and hopefully very soon! https://www.5dimes.eu/action-required-faqs.html
This in no way explains:
1) why they are doing this so quickly, with so little advanced notice, or
2) why they aren't simply rolling over account balances into the new format.
As for why they are doing this only for U.S. players, the obvious answer is that the vast majority of their handle is with U.S. players. They can create less of a panic by claiming only U.S. players will be affected, but the bottom line for them isn't dramatically different that doing it for all players.
One thing is for sure. This is NOT just a website "face lift". They could do that with no problem without closing out everyone's future & parlay bets for less than they're worth and without looting inactive accounts, both of which will occur as a result of the plan. The late-September close date is pretty clever, actually. Consider all the NBA futures bets. By closing deep into the playoffs but before the Finals are over, they:
1) allow bets on every team not in the Finals to be closed out as worthless, but also
2) value bets on the teams in the Finals as being worth whatever the bettor originally paid (not the accumulated equity).
If you placed a bet on the NBA champ, you either get nothing (for 28/30 teams) or you get your money back (for 2/30 teams). 5dimes will wind up keeping >90% of the futures handle. (Same for the WNBA.) For MLB, it's unclear, but they might similarly refund bets on the 16 playoff teams and wipe away bets on the remaining 14. I could go on, but you get the picture.
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