World Sports Exchange (WSEX.com) used to be one of the most trusted and reliable online sportsbooks but it has been criticized lately at sports betting forums like SBR, which rates it at a C. The problem has been processing issues due to the passage of the Unlawful Internet Gaming Enforcement Act (UIGEA) in October 2006, which has been common to almost every online sportsbook. NETeller was pinched in early 2007, forcing sportsbooks to turn to disreputable payment processors halfway around the world.
The high volume sportsbooks, which didn’t include WSEX, bore the brunt and couldn’t handle the high number of transactions. WSEX has had a solid reputation since the launch in 1996, but complaints have still come up like the one listed below. WSEX co-founder Jay Cohen made a bad habit of posting on forums criticizing other online sportsbooks for not paying as quickly as WSEX.
An SBR rep posted this in September:
The pace that WSEX is paying has gotten faster, but some of those owed the longest are still waiting. I have targeted those accounts to see if WSEX can finally get them paid.
WSEX needs to work on communication if/when they get payouts under control. As players have mentioned here, communication from accounts is quite bad. I am sure if they had good answers to give it would be better, but false promises and not even replying is not good for their business.
Another person posted this in October:
I finally got my check after waiting over 4 months. It hasn’t bounced yet so I guess that is a good sign. I started to gain some confidence in them until I re-deposited. They put a limit on my live betting account and when I asked why they said they don’t want my action. Then they froze my sell order and 2 minutes later the Saints pick off a pass and run it back for a touchdown. Cost me $300 because someone there has the power to #@$% with you if they want to. I’ve lost all confidence and respect for this sportsbook. They don’t want my action?? Really?? I think they honestly believe I have some advanced info on the interactive games.
Cohen would post comments on forums objecting to how so-called “professional” sports bettors were being mistreated at competing sportsbooks.