Online Sportsbook WSEX issues payout statement

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WSEX Sports (SBR rating D-) has issued a general statement to Sportsbook Review on the status of user reported payment delays. WSEX sportsbook and poker players are being slow-paid $431,817. | WSEX Sports history and current statement


WSEX was rated A+ by Sportsbook Review in July of 2006. WSEX was regarded by sportsbook players and fellow industry watchdogs as a financially solid company that helped pioneer offshore betting. WSEX was one of the first sportsbooks to adapt the in-play wagering model, and offered a popular no-rake poker game.

WSEX' problems began in the spring of 2009. Players reported payment delays, checks bouncing, and uncharacteristically poor customer support. WSEX became known over the course of the next two years for that lackluster service. A support team once lively and engaging resorted to generic responses. The failure to connect with players led to public unrest that remains present day. WSEX Sportsbook's reputation as a no-nonsense outfit was gone.

WSEX' first sportsbook rating downgrade
In March of 2009, SBR lowered WSEX from A+ to A-. The second adjustment came just four weeks later. SBR reported that the sportsbook rating change represented a lack of adequate financial processing resources. Despite the downgrade, WSEX later placed within the top 20 in the 2009 SBR posters sportsbook poll. The majority opinion of WSEX had not yet soured.

In October of 2009, SBR reported that WSEX payouts were taking between four-to-six weeks. At the time of publication, seven WSEX players were waiting to be paid $30,000. Additional payment delays were reported by users in the coming months. WSEX would finish up 2009 at the mark of C - the lowest in its history.

WSEX Sports payout delays
In January of 2010, SBR reported that six players were being slow-paid by WSEX. The players were collectively owed $61,250; the requests dated back to October of 2009. At the time of this publication, SBR records indicated that thirty players received $100,000 in slow-paid funds from the last seven months.

Things didn't get any better three months into 2010. While WSEX owed less than in January's report, players were still being slow-paid. The delinquent payouts totaled $43,000. WSEX management conceded that the amount of each withdrawal determined its place on the waiting list.

On March 25th of 2010, WSEX was downgraded to C-.

WSEX addresses payout delays
In April of 2010, WSEX management made the following brief statement to SBR:

 

 

WSEX management: Our directors are putting every effort in to cut down this extensive delay and get these checks moving. I am unable to promise a date at this time but the clients should receive these outstanding checks in less than a month.


At the time of the statement, WSEX's debt ballooned up to $152,525 to 28 players. There were still players owed from October of 2009.

WSEX was lowered from C- to D+ in June of 2010, as players were then being slow-paid $227,690. WSEX had 35 slow-pay complaints levied against them. On June 29th, SBR reported that a WSEX accounting clerk gave a misleading time-frame to a player that asked how long his sportsbook payout would take. Few payouts were reported over the summer. Each payment triggered a new round of complaints.

In July of 2010, another twelve reports of slow-pay surfaced. WSEX was overdue in $250,617 worth of payments to 47 players. As a result, WSEX was lowered from D+ to D.

WSEX clears over 50% player debt
On October 15th, 2010, SBR reported that WSEX paid $124,617 to 36 players. Players rejoiced. There were rumblings that the 2010 NFL football season would allow WSEX to clear its outstanding debt. Three months later, it was reported that the Matchbook (SBR rating B-) betting exchange was set to announce their official seperation from WSEX Sportsbook.

Matchbook's statement was provided in March of 2011. SBR.TV's Judie Russell covered the news in the below video report:

 

 

 

 


 
Though WSEX' relationship with Matchbook was severed, payout complaints have not slowed down. As of April 15th, 2011, WSEX' debt to 48 players is $431,817. WSEX management provided SBR with the following brief statement:
 
WSEX management: We are continuing to fulfill our obligations to our customers and as we process I will keep you updated.

WSEX indicated that 14 players on SBR's spreadsheet of WSEX players have been paid in full, for a total of $29,023.

WSEX is currently rated D- by Sportsbook Review. Sportsbooks rated D- and below are indexed in the SBR Scam Sportsbook Blacklist.

Players in need of sportsbook assistance are asked to fill out a sportsbook complaint form. Alternatively, players may reach SBR by writing to help@sportsbookreview.com, or by dialing 830-515-4122 seven days a week during normal business hours.

 

 

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