Just when sports betting enthusiasts welcomed the start of the NFL season, bad news came in the form of the shut down of one of the most popular offshore sportsbooks. 5Dimes, known best for its low-juice odds, announced out of the blue that it would close all its operations with US-based players on September 21st 2020. Stemming from either a plan kept secret very well, or by a very sudden decision made by ownership, bettors and anyone else in the industry was completely caught off guard by the announcement.
Nothing more is really known about the future plans of the sportsbook, although social media was quick to fill up with rumors and guesses of what happened and what’s next for the betting site.The official statement by 5Dimes claimed the shutdown, which affects only US customers, is temporary and the sportsbook is planning to relaunch in the future, but at this point no one is really buy it. Rumors are circulating that the widow of the owner of 5Dimes, who was found dead over an year ago, has decided to cash out of the business, hence the closure of the 5Dimes enterprise, and the “relaunch” is just a ploy to keep the employees from stealing all the office supplies quitting immediately.
What we do not for certain is whatever 5Dimes has posted already on their website. To summarize, online betting will be closed to USA customers starting on September 21st, 2020. All US customers with a balance at the sportsbook should request a payout until Sept. 25th. According to 5Dimes, any customer balance left in the account after Sept. 30th, 2020, would be transferred to a “third-party claims administrator” for further attempts of reimbursement. And finally, any funds which cannot be delivered to the customer after Sept. 30th, 2021 would be deemed abandoned. That last sentence should be all the proof you need that 5Dimes is not coming back.
Will 5Dimes ever reopen? Probably not, and even if they did, we can hardly imagine anyone putting any trust in them again. Considering this closing could’ve been done months ago, amid the lack of sporting events, rather than at the start of football season, there would be plenty of scorned players who would never consider playing at anything associated with the company. Trust remains the biggest factor in choosing an offshore sportsbook, and once lost, it’s gone forever.
If you are looking for 5Dimes alternatives, our offshore sportsbook list has the (few left) very best alternatives to 5Dimes, now that the low-juice sports betting website is gone in the way of the Do Do. We have even left our 5Dimes review, even though the sportsbook is now closed, since it was a solid choice of online bettors for a long time. The news of 5dimes closing comes to show that even the best are not immune to failure.