World Sports Exchange hidden forced betting policy

[Slaughtermeyer]

A couple days ago I spotted a couple of attractive prices in the politics section of WSEX. I deposited about $2000, bought the contracts that I wanted, and the line remained the same. So the next day I decided to deposit about $4000 more, but it would only let me buy the contracts at the stated price with less than $200 worth of action. The line changed and I decided I did not want to purchase any more at the changed price. So I requested a transfer of most of my funds to Matchbook where I thought I could put the money to better use. However, I received an email stating that the funds I deposited had to be wagered at least once before I could transfer them out (there were no bonuses involved for my deposits, only reimbursed money transfer fees).

I have not complained to them because I want everyone to be able to see that nowhere in their terms and conditions does it state that funds have to be wagered at least once before they can be transferred out, and I do not want them to add such a clause based on my complaint to their terms and conditions so they can say "look, it says so right in the terms and conditons."

If someone could post a message on this thread stating that they confirm that there is no clause limiting withdrawals only to funds that have been turned over once, it might make it easier for me to get my money out of that sportsbook.

If someone reading this message owns a competing sportsbook, you might want to make a small deposit there and shortly thereafter ask for its withdrawal so that you can have proof that WSEX is a shady operator.

 

[pokeraddict]

WSEX is by far not a shady operator. It costs money to process deposits. If you deposit and do not give them action they lose. Depending on your method they paid from $120-$360, much more if it was a WU deposit.

I know of many poker rooms that have this policy. I don't play sportsbooks often so I don't know how common it is but I do know that WSEX is among the most respected sportsbooks in the industry.

 

[Slaughtermeyer]

I was able to turn over my deposit by shorting Tiger Woods at what is exactly fair value according to Betfair. Let's just hope he doesn't win (only a 3% chance it will happen).