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A popular sports betting portal has recently downgraded long established World Sports Exchange (WSEX.com) and another betting exchange it owns, Matchbook.com, citing "payment issues".
From Sports Book Reviews.com:
WSEX does stand by Matchbook. That comes from WSEX themselves. It's a parent sportsbook relationship. The problem is the parent sportsbook hasn't been at the A level for a while and processing continues to be an issue as football winds down. That's withdrawal season. Matchbook is trying some new more aggressive things with their business plan leaving SBR to consider bringing the two ratings more in line as we see how things work out. It's going to be a big couple of months for WSEX and we hope to do some rating upgrades for both after they service players at a high level at the close of season.
Ironically, WSEX co-founder Jay Cohen has long been outspoken about online sportsbooks that are slow to pay.
"In this climate, when payment processors are hard to come by as a result of recently passed legislation, World Sports Exchange and Matchbook.com need to be given the benefit of the doubt," expressed Payton O'Brien, Senior Editor of the Gambling911.com website. "There is little evidence to support the notion that World Sports Exchange would shut its doors."
Over the past few years, the majority of online gambling sites have endured some delays in paying customers as a result of the Unlawful Internet Gaming Enforcement Act (UIGEA).
"Payment processors abruptly pulled out of the market," O'Brien said. "High volume sports betting operations were especially hit hard as they required several months to locate new processors capable of handling their business."
World Sports Exchange is relatively small in the whole scheme of things. Their online poker room averaged a meager 25 "real cash players" last week.
"World Sports Exchange has had a tough time keeping up with the Joneses, mostly because of their marketing ineptness in recent years," O'Brien states. "But they are safe and sports bettors should not worry about depositing money with them."
Christopher Costigan, Gambling911.com Publisher
