Online sportsbook WSEX has officially closed due to financial hardships.
World Sports Exchange, once a highly regarded sportsbook, posted the following statement on their Website:
Dear WSEX customer,
We have been forced to halt business activities at this time due to inadequate capitol resources. The financial position of the company is currently under review and we will keep you informed as to the future plans for WSEX and the repayment or transfer of your balances.
We sincerly apologize for this unfortunate situation and will be doing everything we can to rectify it as soon as possible.
It is estimated that over 200 bettors are owed roughly $1 million by the scam book. Games stopped being graded two weeks ago and customer service representatives are no longer answering the phones.
WSEX began having financial problems in 2009 prompting many account holders to withdraw funds, according to sportsbookreview.com.