Overview of Pinnacle Sports
Pinnacle Sports is among the pioneers of iGaming, Esports, and online sports betting. Founded in 1998, the brand has focused on building a reputation as a sharp bettor-friendly sportsbook by lowering its vig (profit margins), accepting higher wager amounts, and providing enhanced odds. This guide provides all the essential information about Pinnacle’s ownership, leadership, company history, and growth.
Pinnacle is an online sportsbook and casino operator that has built a unique business model by focusing on:
- High limits and low margins: Unlike many bookmakers, Pinnacle does not offer traditional bonuses or promotions and focuses on lower vig and competitive odds.
- Global reach: Serving bettors from over 100 countries in 19 languages, including dedicated Pinnacle Ontario and Pinnacle Canada sportsbook offerings.
Who Is the Owner of Pinnacle Sports?

Magnus Hedman during a 2006 press conference with Jose Mourinho annoucing that Hedman would be the new Chelsea Goalkeeper. (Photo by Gareth Cattermole/Getty Images)
The company is privately owned. Magnus Hedman, a former Swedish soccer player, is its majority owner and leading stakeholder.
- Acquired controlling interest in 2015.
- Serves as chairman and lead investor.
- Operates under the registration of Ragnarok Corporation N.V. in Curaçao.
Under Hedman’s direction, Pinnacle has grown thanks to ongoing innovation. For example, in 2010, Pinnacle Sports became the first sportsbook to accept an Esports wager, a bet on StarCraft 2. Then, during the 2014 World Cup in Brazil, Pinnacle once again achieved an industry first by raising its limits to $1,000,000, appealing to sharp, high-stakes bettors.