[Blondie]

WSEX Sportsbook statement

WSEX (SBR rating D-) Sportsbook released the following statement concerning the $700,000+ in funds owed to players:

WSEX Sportsbook: I understand you would like to receive your outstanding payments in a swift manner. However, as I have been explaining to all clients, due to the losses we encountered, payments will be done partially for a few more months. Clients who deposited funds with us in the past were all lost due to new gaming /banking laws in the US. It is now our responsibility to bounce back from these losses and pay our clients. We have dedicated staff at World Sports for 10 years and over. Regardless of the fact that you do not receive a withdrawal every month, you will receive something from us not exceeding 3 months. I will keep your name noted to receive a withdrawal by February 2012 for at least a portion of your request. This will be right after the super bowl. We will have a remainder for March, April and so forth. I do anticipate this back log to be completed by the new season of September 2012.

WSEX continues to shift blame for their financial troubles on US banking laws. The sportsbook has withdrawn itself from discussions with SBR. SBR has reports from 129 users a owed $747,802. The average amount owed each player is $5,842. Players have been waiting for their funds since as early as October of 2009, making the sportsbook's claim that clients will not wait longer than three months both irresponsible and inaccurate. The last major surge of WSEX payments came in the fall of 2010, when SBR reported that $124,617 was paid.

Players in need of WSEX sportsbook assistance are asked to fill out a sportsbook complaint form.

[Monte]

It's disgusting how they claim that everyone receives "a bit" of his balance over the months, i know at least 1 guy who didn't get any payouts yet...

[FourLengthsClear]

Looks bleak.

[durito]

They don't have any one left on staff that speaks English as a first language?

[mighty maron]

right after the superbowl...meaning after football season oh well...no more money deposits...keep them on a string longer

[msutter]

Unfortunately this is the only book I have money on right now. Won some cash on their poker site with frequent player points I had then built it up. Looks like I should cash out $400 or so instead of building it up more. Doesn't look like they can afford to pay out more than that at a time

[sickler]

Unfortunately this is the only book I have money on right now. Won some cash on their poker site with frequent player points I had then built it up. Looks like I should cash out $400 or so instead of building it up more. Doesn't look like they can afford to pay out more than that at a time

Yep, get out while you can

[skrtelfan]

They actually paid me part of my balance a while back with a personal check from some random guy in Montana or Wyoming or something, so it's obvious they're using deposits to pay owed money. I'm surprised it's only been since Oct 2009, I was pretty sure I started having problems getting payouts in 2008.

[RickySteve]

They actually paid me part of my balance a while back with a personal check from some random guy in Montana or Wyoming or something, so it's obvious they're using deposits to pay owed money. I'm surprised it's only been since Oct 2009, I was pretty sure I started having problems getting payouts in 2008.

WSEX is insolvent. Please keep us posted on other breaking industry news, Groovin'.