Latest updates on 5Dimes. Plans on relaunch in Canada and more.
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5Dimes History
5Dimes – one of the oldest and most popular sportsbooks in USA and Canada came to an end in 2023, after several years of struggle and unfortunate events. The story behind this infamous book is worthy of a Hollywood movie and it won’t be a surprise if Netflix or another streaming service makes a movie or tv series about William Sean Crieighton or as people in the business knew him “5Dimes Tony”
Tony was as we may call him a “professional gambler” back in the 90s. He knew very well how bookies operate, had a complete understanding of how lines move and where the value is. He was winning a lot in the beginning of online gambling due to his methods and one thing led to another. The years was 1998 and 5Dimes was born.
In 1998, the US Government made it’s first raid on sportsbooks who operated illegally in USA. One of the most popular names in the business back then Al Ross was struggling trying to keep his business afloat, so what he did in order to survive was contact one his most unprofitable customers – Creighton. He offered him his own book and 5Dimes started operations.
5Dimes quickly exploded and become notorious for their huge limits and markets. Although Creighton was in charge of the book, he was still a gambler. He did a lot to prevent sharp players like him beating their lines , but in fact Tony was still gambling. He took huge bets from other players and if lines or money were not up to his liking he would still accept the bet, but depending on the situation he partially covered bets in another bookmakers or he would even place the same bet, then hoping for the user to win also. Due to money flow and understanding of the industry, Tony’s methods even allowed him to accept bets from professional and sharp players like him and it did not harm his business.
5Dimes has it’s ups and downs during the years, but their main problem was regulation. They kept operating from Costa Rica providing services to US players illegally. In 2006, Unlawful Internet Gambling and Enforcement Act was passed which made most of offshore bookmakers either go out of business or completely change methods of operations. The act made depositing and withdrawing to bookmakers almost impossible and 5Dimes biggest problem was processing payment transactions. A problem that they had for years until Bitcoin arrived.
The Turning Point for 5Dimes
In 2018 things after being online for almost 20 years in business, 5Dimes owner William Sean Crieighton was kidnapped after regular day in the office in Costa Rica. Rumors and reports claim, that kidnappers asked for $ 5,000 000 from his wife Laura Varella, who transferred almost $1million in crypto. Officially Tony’s body was found a year later in a cemetary near the location he was initially kidnapped. Although the case has been closed, many people seem to believe that Tony faked his own death and disappearance in order to escape from authorities, because 5Dimes and their financial activities were investigated by America’s regulatory organs. After his death 5Dimes kept operating like usual and deposits were withdrawals were processed like before. This did not last long and in 2020 5Dimes ceased operations in USA after an investigation leading to an agreement with U.S. Attorney’s Office for over $50million.
In 2023 after Superbowl, 5Dimes informed it’s clients that it is ceasing operation and players should withdraw balance from their accounts.
5Dimes Future
In 2023, while still operating in some countries, 5Dimes informed their Canada clients, that they will stop accepting activity from Canada and that they are soon going to become licensed operator in Ontario province. Although www.5dimes.ca is up and running to this day there have been no official launch of the Canadian version. Although their is still hope, rumors say that due to previous 5Dimes operation and due to financial problems, 5Dimes was rejected a license.
So as of 2024 5Dimes future is very uncertain. We are unsure if the site will relaunch in Canada or anywhere else. Although recognizable brand, 5Dimes had a lot of controversies in the past and selling the brand might not be beneficial for Laura Varella. We do hope that there is future for 5Dimes and if there are developments regarding their relaunch we will keep you updated.
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