Today marks a sad day for US bettors across America as 5Dimes has announced they are closing their doors to U.S customers officially starting September 21st, 2020. However, not all is bad, as this is just temporary while they attempt to make a transition to legal U.S betting once new laws and regulations are passed, which is looking increasingly likely.

1. 5dimes Esports Game
2. 5dimes Sportsbook Suspended
3. 5dimes Sportsbook Legal

5Dimes has been operating since the early 2000’s and has been the home to many American bettors for equally as long. Sports Betting in US has been illegal and unregulated forever until recently last year the federal government has eased up on sports betting and is now allowing states to regulate, and offer it if they chose to.

Some of the early movers taking advantage of this, are New Jersey and Colorado. The lawmakers in Colorado seem to be privy to new markets as just like the marijuana industry, they know this can bring in a tremendous amount of tax revenue when sports betting is offered legally.

5Dimes offers straight bets, totals, if bets, rolling if bets, Asian handicaps, round robins, reverses, pleasers, parlays, propositions and a wide selection of teasers/progressives. 5Dimes also offers several in-game wagering options for players to take advantage of as well.

While there are only 2 states that are legal currently for Americans to place bets (outside of Vegas), it seems 5Dimes is trying to get a head start on their U.S operations, and to do that, they must stop offering Americans in all 50 states illegal access to betting, even though they have been doing so for over 15 years now. It is unknown how U.S regulators will see 5Dimes efforts to become legal, after operating illegally for so long, but time will tell.

U.S bettors currently playing on 5Dimes will two options on how to move forward. They can select to get a refund on their current account balance and pending wagers, or elect to have their bets transferred to another entity called ‘Betanysports.eu‘.

5 Dimes eSports Betting Betting on eSports, also called electronic sports, involve professional teams that compete against each other in video game tournaments. ESports betting has become increasingly popular, and 5Dimes has plenty of betting odds for gamers. One area where 5Dimes is an industry leader is with esports. We found that they had more odds up than the average sportsbook and they also even had a wide selection for live betting the games. Taking a look on an average day, we found hundreds of lines on CS Global Offensive and that was just one game.

Players have until September 25th to decide how they would like to proceed either taking a refund or transferring their bets. If no option is selected and you miss the deadline, 5Dimes will be transferring balances and funds to a 3rd party claims administer who will then attempt to get your money back to you. Anyone that doesn’t claim the funds or make an effort to claim them will be forfeited by September 30th, 2021.

This marks an end of an era for 5Dimes, being a staple in the industry and providing players with access to some of the best odds, least amount of juice and most betting options of most books out there. They had very small, niche markets which you couldn’t find elsewhere. With that said, we are excited to see the new U.S legal betting they offer, if they are allowed to.

5Dimes USA Player FAQ

• Q. If I am an existing customer with a balance, can I continue playing even though you no longer accept U.S. customers?
  • A. We are only suspending service to customers located in the United States. If you are located in the United States and have not withdrawn your balance before September 25th, your funds will be transferred to a claims administrator who will attempt to return your balance to you. If you are located outside the United States, we will continue to offer our services.
• Q. If I continue to play and win, is there a time limit to withdraw my funds?
  • A. Yes, you must withdraw your funds before September 25th or your balance will be transferred to a claims administrator.
• Q. What will happen to my funds if I do not withdraw them in the specified period?
  • A. The remaining balance will be transferred to the claims administrator who will exercise its best efforts to return your money to you.
• Q. Will you allow higher limits on withdrawals for customers with large account balances?
  • A. Payouts with higher limits and frequency are allowed, only subject to each payment method’s limits and restrictions.
• Q. If I am a U.S. citizen living outside of the U.S., can I continue playing with 5Dimes?
  • A. Yes, as long as you are in a jurisdiction where online betting is legal and offered by 5Dimes.
• 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!
• Q. Why are you leaving the market?
  • A. We are relaunching the company into a better one for our customers, and to do it properly, we need to suspend service to U.S. customers, but it is only temporary.
• Q. I have an open bet that will not be settled until after September 25th, is it possible to get a refund on that wager?
  • A. Yes, refunds will be available.

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Offshore sportsbook 5Dimes will freeze its US operations later this month, telling customers it plans to relaunch with a “fresh start.”

The Costa Rica-based outfit will stop taking bets from US customers at 12 am ETon September 21.

By early Monday evening, the following greeted customers in the US trying to log into the site:

One prominent gaming analyst hinted at the news earlier Monday in a since-deleted tweet:

In a somewhat vague email to customers reviewed by LSR, 5Dimes said it was embarking on a “new business venture.”

“With the evolving legal landscape in the United States, we want to take advantage of the opportunity to offer an improved online sports betting experience to our many US customers,” the email reads.“In order to do this, we need to suspend temporarily our service of the US market so that we can launch our new operations with a fresh start. 

What happens next for 5Dimes?

Customers have until September 25 to claim balances. After that date, funds will be transferred to a third-party administrator, who will try and return them to account holders.

A 5Dimes representative declined to provide further details on the business plans when asked by LSR. However, the email seems to suggest the sportsbook could aim to transition to the regulated US sports betting market – whether out of choice or legal pressure.

The email continues:

“We wish we could tell you everything about our future plans, but for now, please stay tuned and know we will soon reward your loyalty with extraordinary gaming experiences.”

Licensing longshot in US sports betting market?

Any transition is also dependent on 5Dimes getting licensed in the legal market. That would be up to each state and might be a longshot, based on how regulators have treated other black-market operators who have operated illegally in the United States.

New Jersey regulators repeatedly have warned offshores operating illegally in the Garden State. They also have leaned on regulated books like FanDuel Sportsbook to discourage the use of offshore sportsbooks.

5Dimes was established in San Jose, Costa Rica, and launched its first online casino in November 1996. Owner “Tony” Creighton went missing last year and was ultimately found dead by authorities in Costa Rica.

5dimes Esports Game

Offshores seeing opportunity or fearing the worst?

The sudden switch also reflects the growing pressure on the offshore market as regulated US sports betting expands. Last year Bovada and BetOnline stopped taking bets from New Jersey residents.

5dimes Sportsbook Suspended

BetCris recently signed a deal with Major League Baseball for promotion of its operation in Latin America. The offshore book appears interested in cleaning up its name with the US market after abruptly closing up shop following the passage of UIGEA in 2006.

5dimes Sportsbook Legal

Of course, offshore books still maintain an important role in setting early lines for books throughout the world. But it remains to be seen where 5Dimes will fit in the market going forward.