WSEX Sportsbook downgraded to F

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WSEX Sportsbook has been downgraded to F. WSEX has been in the sportsbook blacklist with a rating of D- since January 11th, 2011. Despite a few token payments made this year, it has become clear that there is little hope for victims to recover a documented $825,744 in funds. SBR receives new reports of WSEX players who are not being paid each week.

WSEX makes no mention to players who sign up of the financial hardship. It appeared in the fall of 2010 during football season that WSEX was able to pay off some players by using the deposits of others; commonly referred to as operating on the float. WSEX has not been able to get a handle on its continued banking crisis and is no longer willing to discuss player claims with SBR. Players have reported being told from the sportsbook staff themselves that the company was in extremely dire financial condition.

WorldSportsExchange.com was once known as an industry leader, operating a popular poker room, renowned software with deriviatives trading and then a sister-site to betting exchange Matchbook. Matchbook completely disassociated itself with WSEX, severring all ties with the troubled sportsbook when new investors acquired the betting exchange. WSEX appears to have squandered most assets, and operates now seemingly only to collect deposits it has no intention to pay.

WSEX representatives string players along by pinning the blame of the delays on the banking climate in the US, processor trouble and more. At no point during any of its documentated conversations with SBR nor players has the sportsbook stepped up to the plate to discuss what really went wrong. To start 2012, WSEX Sportsbook continued to shift responsibility for the grave financial situation but made empty promises of payment plans:

WSEX Sportsbook January of this year:  "We acknowledge that in a previous conversation, either verbally or written, you were promised every effort to have your entire or part of your withdrawal shipped to you by ending of the year. While the lack of processing companies and US corresponding banks continue to be the dominant factors for our delayed processing, we will continue through out the next few months to accomplish all the clients who were not addressed during the past couple of months. Every month commencing January 2012, a maximum value of checks as specified by our financial personnel, will be processed. Once a payment is completed for you, an email notification will be sent, allowing you sufficient time to make arrangements for the courier delivery. At this time, I wish to thank you for your continued correspondence and the patience you have extended throughout these challenging times. Our customer support will always be available to address any further queries. Again, I cannot apologize enough for the continued delays and the grave inconvenience caused to you."

WSEX is considered an outright scam sportsbook and is to be avoided by all players. WSEX is listed on the sportsbook blacklist.
 

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