WSEX Sportsbook player reports $2,000 payment

[SBR Lou]

WSEX Sportsbook player reports $2,000 payment

A WSEX Sportsbook (SBR rating D-) player reports being paid $2,000. The player had been waiting since February of 2011 for two withdrawals totaling $2,000. The player tells SBR that last month a WSEX customer service representative recommended the player cancel his pending withdrawals and ask for a new payout using a payment solution available to residents of his county. The player reports that his first withdrawal is already in his bank account, and the second has been sent to his processor account...continue reading.

[Hareeba!]

I note that last year a similar thing happened around this time.

It seems pretty obvious to me that an injection of new funds (by unsuspecting players) for the US 'football' season allows WSEX to hand some of it out in payment of a selection of grossly overdue withdrawal requests.

Lou, rather than just post the 'good' news, how about advising regarding the solvency of this outfit?

How does the amount of available cash compare with the total of player account balances?

What chance do you think of them ever recovering to the extent of being adequately funded and able to meet withdrawal requests without delays? And when?

[Monte]

blah blah Hareeba...ofc you don't care, but for ppl with cash there it is some hope maybe.
You are so black&white it is funny.
They warn in the same post, do you even read the full stuff?

[Hareeba!]

blah blah Hareeba...ofc you don't care, but for ppl with cash there it is some hope maybe.
You are so black&white it is funny.
They warn in the same post, do you even read the full stuff?

I do read it. But I don't see anywhere where there has been any attempt to investigate or voice an opinion on the finances of the outfit.

I do care. That's why I post on the issue. Innocent players unaware of the situation are being trapped into locking their funds away for a very long time at best. People with cash there probably will get paid ... eventually .... but only if there are sufficient new players providing the money to pay them.

[shari91]

I do read it. But I don't see anywhere where there has been any attempt to investigate or voice an opinion on the finances of the outfit.

I do care. That's why I post on the issue. Innocent players unaware of the situation are being trapped into locking their funds away for a very long time at best. People with cash there probably will get paid ... eventually .... but only if there are sufficient new players providing the money to pay them.

Hareeba, WSEX won't even talk to SBR about why it's taken so long for posters to receive their money; I somehow doubt they'll provide SBR access to any sort of meaningful info on anything else although SBR did try: "While WSEX Sportsbook has recently declined to go on the record with SBR about the extreme payment delays..."

The article pointed out what SBR does know without needing WSEX's confirmation: "WSEX Sportsbook owes $570,010 in payments to more than 85 players" Until those people are paid out, most of us should be able to draw our own conclusions without needing WSEX to confirm it.

All Lou, Bill and Justin7 can continue to do at this point is keep posters apprised of the situation as far as the status of those 85+ players and reporting any payments that they may some day receive.

[TomG]

$570,010 outstanding / 85 complaints = $6,706 Avg unpaid balance

Their strategy is to stiff their bigger balances and try to pay smaller ones.

Good luck to everyone with money there.

[Justin7]

I friend of mine just got paid 1k, and is still owed 47k.

[Hareeba!]

Hareeba, WSEX won't even talk to SBR about why it's taken so long for posters to receive their money; I somehow doubt they'll provide SBR access to any sort of meaningful info on anything else although SBR did try: "While WSEX Sportsbook has recently declined to go on the record with SBR about the extreme payment delays..."

The article pointed out what SBR does know without needing WSEX's confirmation: "WSEX Sportsbook owes $570,010 in payments to more than 85 players" Until those people are paid out, most of us should be able to draw our own conclusions without needing WSEX to confirm it.

All Lou, Bill and Justin7 can continue to do at this point is keep posters apprised of the situation as far as the status of those 85+ players and reporting any payments that they may some day receive.

Yes, I appreciate that WSEX isn't very co-operative but my point is that the title of this thread appears as being a "good news" item when in reality that simply isn't supported by any facts. One player's good news is almost certainly bad news for another as it is his money that was paid out and he is now potentially at the end of the payout queue.

Any post by SBR regarding a bookie in this plight should carry much more in the way of warning off to potential new depositors.

[trumpdown]

There is no method to who or how they pay. You can kiss their ass with please and thank yous, and they'll treat you just the same. You can threaten to go down there and blow the place up and they'll treat you just the same. Frustrating to find an angle, but there are clues, smaller amounts...ewallet.<.alternative method

I don't know what these 85 do to inquire on their hard earned $$, but I called, emailed, and Live chat rinse and repeat over and over until I was paid off.

[Hareeba!]

There is no method to who or how they pay. You can kiss their ass with please and thank yous, and they'll treat you just the same. You can threaten to go down there and blow the place up and they'll treat you just the same. Frustrating to find an angle, but there are clues, smaller amounts...ewallet.<.alternative method

In the end I was fully paid they never stiffed. Try calling.... then email.... then Live chat... rinse and repeat. Eventually with persistence and timing you will get paid.

Yes, but only so long as their flow of deposits from unsuspecting punters provides the cash to enable that to happen.

Or, unless more capital is contributed by the owners or a purchaser.

[SBR Lou]

Yes, I appreciate that WSEX isn't very co-operative but my point is that the title of this thread appears as being a "good news" item when in reality that simply isn't supported by any facts. One player's good news is almost certainly bad news for another as it is his money that was paid out and he is now potentially at the end of the payout queue.

Any post by SBR regarding a bookie in this plight should carry much more in the way of warning off to potential new depositors.

Hi Hareeba!,

I truly appreciate your feedback... but I'm beginning to think you didn't read the whole article. Hit the "continue" button bud. That links you to the entire WSEX report.



It's indeed good news that payment is being reported, though as the report goes on to say 85 players remain on the slow-pay list. We put up these reports and conclude by asking players to write in so that we can stay up to date with both payment and non-payment reports.

On another note, a different manager at WSEX responded to us today and we're hoping to have a discussion in the next week.

[Hareeba!]

Lou, as per my response to Monte who also suggested that I hadn't read the whole report, I had.
It still appears overall to be a "good news" report. That's where we seem to differ. It's just more of the same. And imho nowhere near strong enough in discouraging new deposits. But of course that would be bad news for those still waiting.

[trumpdown]

Yes, but only so long as their flow of deposits from unsuspecting punters provides the cash to enable that to happen.

Or, unless more capital is contributed by the owners or a purchaser.

Do you really think there are unsuspecting punters left for this book? It is all over every forum on this slow pay.

[trumpdown]

On another note, a different manager at WSEX responded to us today and we're hoping to have a discussion in the next week.

Please keep informed. Hopefully it has some weight or substance this time.

[Hareeba!]

Do you really think there are unsuspecting punters left for this book? It is all over every forum on this slow pay.

Yes.
What percentage of players read forums? Read the long running WSEX thread and you will find posts from players who didn't know.
And several who do may still be encouraged by reading reports of the drip-feed payouts.

[trumpdown]

I agree there have been a few here and there that may not know. But most know exactly what they're doing. risk vs reward of a very beatable book.

[Leo Bello]

I agree there have been a few here and there that may not know. But most know exactly what they're doing. risk vs reward of a very beatable book.

I don't know how much more SBR could do? Shari spells it out quite succinctly in her post. All of them (Bill, Shari, Justin) answered quite completely. They reported the facts. I, for one, thank them.

[Monte]

Another thread with 50% Hareeba/quotes posts, and i bet he never had an account with Wsex.
Laughable...

[Hareeba!]

Another thread with 50% Hareeba/quotes posts, and i bet he never had an account with Wsex.
Laughable...

Oh dear!
Monte's wrong yet again. I did use to use WSEX but got out about 2 to 3 years ago.

Now please tell me precisely what part of what I've posted you disagree with.

[QQPALLADIUM]

2 books that have gone under and he got it just in time...did you also have a closed acct with madoff?

[skrtelfan]

How are these guys still D-? A handful of tiny payouts a couple times a year are enough to keep them away from the F? To some D- and F might not be a huge difference, but I've used some D- books treating them as "junk bonds" that actually pay a lot more reliably than WSEX does.

[ChuckyTheGoat]

Hope they are working on their business model and getting some capital injections. The WSEX name should still carry some weight.

[skrtelfan]

Where is Jay Cohen during all of this?