5dimes Betting Lines
- 5Dimes announces it will stop wagers from US players on September 21.
- This stoppage is only temporary as the international sportsbook says it will relaunch better than ever.
- The official announcement hints at 5Dimes possibly entering the regulated US market.
SAN JOSE, Costa Rica. – Popular international sportsbook 5Dimes has officially announced they will be temporarily stopping US wagering.
Within the official announcement, 5Dimes hinted at a possible domestic regulated launch. 5Dimes has been providing legal sports betting internationally for over two decades.
The recent announcement by 5Dimes solidified the split by BetAnySports. They now use the same exact software and lines, but have access to 'everything that 5Dimes offered'. 5Dimes Review - Odds, Wager Types + More. It's exciting to talk about 5Dimes and the plethora of odds they have listed because from a pure betting lines standpoint, this site might be the best out there for this. 5Dimes sets the standard for sports betting online in terms of the number and types of betting lines. The widow of 5Dimes founder William Sean Creighton, aka “5Dimes Tony,” is speaking out on the future of the offshore sportsbook. But current customers are voicing their anger for how the. 5Dimes Betting Contest. 5 straight wins will get a $50 Free Play. 10 straight wins will get a $500 Free Play. 15 straight wins will get a $2,000 Free Play. 25 straight wins will get a $5,000 Cash Reward.
Sports bettors in the U.S. will be able to wager until September 21, where the last wagers will be accepted. Sports bettors should also request withdrawals by September 25th.
5dimes Sign In
5Dimes US Hiatus
Popular offshore sportsbook 5Dimes announced today that it is leaving the U.S. market and will stop taking online bets from U.S. customers on Sept. 21. Bettors are instructed to request withdrawals by Sept. 25. (First reported by @BradAllenNFL). pic.twitter.com/STgFI37K2j
— David Payne Purdum (@DavidPurdum) September 7, 2020
For 5Dimes patrons there are a few key things to know. Firstly, all wagers for events that occur after September 25th will be refunded.
5dimes Betting Lines Line
Customers are advised to retrieve all of the money from there betting wallets prior to September 25th as it is the best way to assure collecting their earnings before the stoppage.
Any funds that remain in the betting account by 12 am ET September 30th will automatically be transferred to a third party claims administrator. This third party company will work to get the funds to the account holder.
5Dimes picked an interesting time to stop accepting US wagers as several major sporting leagues are ongoing at the moment.
The international sportsbook will be missing out on the remainder of the NBA playoffs betting, the upcoming NFL betting season, and the continued MLB betting regular season. This leads to the speculation that the international bookmaker is looking to enter the national market through state-sanctioned methods.
In the official statement released to its patrons, 5Dimes mentions “embarking on a new business venture” and taking advantage of the opportunity to improve the sports betting experience in the US.
The sportsbook is not shutting down operations completely, but only in the US market. This leads many patrons to believe a domestic regulated launch is imminent.
The announcement also speaks on future plans that they cannot as of yet speak on. Nothing is confirmed, however, as this is all speculation.
Legal sports betting in the US hasn’t stopped completely, however, as there are many other sportsbooks both regulated and international offering betting lines for the major sporting leagues.
Whenever 5Dimes returns, sports bettors will be ready to continue getting in on the action at the popular sportsbook.
News tags: 5Dimes MLB NBA NFL sports betting Sportsbook
Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.
5Dimes and the U.S. Department of Justice reached a $46.8 million settlement of an investigation into illegal US sports betting operations, as well as money laundering and wire fraud.
The company announced an intent to enter the US sports betting market following the deal, although state regulators likely will balk at the long list of criminal activity detailed in the settlement.
5D Holdings and owner Laura Varela will forfeit the illegally obtained gambling proceeds as part of a settlement with the US Attorney’s OfficeEastern District of Pennsylvania into the criminal investigation of 5Dimes’ offshore operations in Costa Rica.
“Beginning in at least 2011, 5Dimes accepted wagers from and made payouts to U.S. bettors, and transferred more than $46.8 million in proceeds earned from its illegal gambling activities in such a manner as to attempt to hide the nature, location, source, and control of the funds.”
5Dimes already incorporated 5D Americas LLC in Delaware. The agreement allows Varela the “use of her assets or the assets of the 5Dimes brand to explore future options, including, but not limited to, re-constituting the 5Dimes brand to be licensed to conduct legal, regulated gaming activities in the U.S. and internationally.”
Why is 5Dimes settling?
Varela is the widow of Sean “Tony” Creighton, who was found dead in Costa Rica after he was kidnapped and murdered in Sept. 2018. She’s a Costa Rican citizen.
The $46.8 million was traceable to transactions that violated multiple sections of Title 18 of the United States Code. The settlement agreement includes the fact that 5Dimes “acknowledged that those funds are the proceeds of various unlawful gambling-related offenses.”
Those include:
- Wire fraud
- Money laundering
- Illegal transmission of gambling information
Not all cash
That $46.8 million seized wasn’t totally liquid as Creighton attempted to launder the funds multiple ways, according to the settlement.
The Department of Homeland Security Investigations seized $3.4 million in cash and other assets like a 1948 George Mikan rookie card he bought for more than $400,000 and $715,000 in rare coins.
In total, the assets forfeited were worth more than $26 million. Varela also agreed to forfeit $2 million seized by Costa Rican authorities and pay an additional $15 million.
Offshore betting seen as illegal by feds
The settlement and preceding investigation strike a blow to those sympathetic to the legality of the offshore industry within the United States. The federal government began investigating 5Dimes’ illegal acceptance of US-based bets years ago and imposed a massive fine for the company to avoid charges.
While the company paints the settlement as its pass to seek state-level licensure, the underlying agreement submarines the opinion of many who paint offshore operations as legal under US law.
The admission of ongoing violations of US law dating back at least a decade will make for a heavy discussion topic for state regulators.
What’s next for 5Dimes?
The next step will be trying to get 5Dimes licensed in New Jersey, Varela’s attorney Jeff Ifrah told the Wall Street Journal.
Varela will also have the support of the US Attorney’s Office throughout the process. It will “answer inquiries made by gaming regulators, potential investors, and/or financial institutions regarding her cooperation in EDPA’s investigation and lack of involvement in the operations of 5Dimes,” according to the settlement agreement.
That means whether Varela gives it a go with the brand or decides to sell, she’ll get the help of the authorities she aided throughout the investigation.
How gambling regulators will treat 5Dimes will be an interesting case study. Literally days ago it was still taking wagers from Americans illegally. And we know that the site has been sending at least some bettors to a site that runs with the same backend and lines.