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WSEX CLOSES WORLD POKER EXCHANGE

02/12/2012 :  Slow payments = few players is the lesson to be learned
 
After being under attack by players and information sites for some time for its slow-pay proclivities and poor communications technique, World Sports Exchange (WSEX.com) has called it a day on subsidiary World Poker Exchange.com, notifying players that it is shutting down, but giving little reason why.
 
The fact that, according to independent monitors, there are only a few players visiting the site undoubtedly is part of the problem, and that stayaway may be due to the slow-payment allegations, observers note.
 
In an abrupt and brief notification this week, the operator advised players:
 
"It is with great regret that we announce the closure of World Poker Exchange.
 
"As of 1pm ET on Wednesday 15th February 2012, our poker software will no longer be available, and any active poker room balance you may have will be transferred to your World Sports Exchange account. Rake will be paid out as normal on the following Monday.
 
"We deeply apologize for the inconvenience caused. Our attention is now focused on improving our sports betting and casino products.
 
"Thank you for playing at WorldPX, and we hope you continue to enjoy playing at World Sports Exchange Sportsbook and Casino."
 
Just how long the sports and casino arms last is now the subject of some conjecture; major player information boards have carried alarming stories for some time relating to slow payments, questionable decisions and refusals to cooperate with mediators on the part of Wsex - none of these flaws auger well for its future.
 
The respected Sports Book Review, which rates the company at a low D minus, claims that Wsex owes players in excess of $700,000, and that player complaints against it are mounting. Yet Wsex has apparently stopped responding to SBR attempts to get players paid - always an ominous sign.
 
SBR speculates that Wsex is "operating on the float" - in other words only releasing payments once more deposits come in. And despite vigorous marketing, payments have been decreasing, perhaps indicating that the number of deposits has shrunk as word gets around - a vicious circle. SBR claims that some players have been awaiting payment since October 2009.
 
In January this year, Wsex made a statement about the large amounts owed to players, effectively blaming US enforcement actions for its situation.
 
"I understand you would like to receive your outstanding payments in a swift manner," an unidentified spokesman for the company wrote.
 
"However, as I have been explaining to all clients, due to the losses we encountered, payments will be done partially for a few more months. Clients who deposited funds with us in the past were all lost due to new gaming /banking laws in the US.
 
"Regardless of the fact that you do not receive a withdrawal every month, you will receive something from us not exceeding 3 months."



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NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

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NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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