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World Sports Exchange, Jay Cohen Image Tarnished

World Sports Exchange

The once proud World Sports Exchange (, founded in 1996, has fallen on bad times and co-founder Jay Cohen hasn't said much about the matter. has reportedly on the situation, which doesn't seem to be getting much better.

A look at Google search reveals that the problem is more extensive than originally believed.  Several searches have been coming into the website. mostly dabbles in online sports betting but also offers an Internet poker room.  Cohen can often be found in various posting forums bashing his competitors without disclosing his current interest in World Sports Exchange.  Over the past year and a half, many insiders knew of Cohen's involvement with the company following a two-year stint in jail.  He confirmed reports late last year as part of a CNBC special.

World Sports Exchange attributes the 2 to 3 month payment delays to "processing issues", according to customers, however, the main concern has been a downward spiral in WSEX's once stellar customer service. 

Some players have reported getting payouts through transfers to other online sportsbooks, presumably those Jay Cohen hasn't bashed. 

"The main consistency besides book transfer is everyone does get paid, so this is ultimately the most important, as this is not a stiff book," one poster stated on the SBR Forum.

Cohen in the past has blasted some competitors for making it simple to deposit funds while requiring all types of paperwork (for security reasons) to withdraw funds.

Ironic since one poster at SBR had this to say about the WSEX website:

"(The) deposit page is never down but withdrawal/payout page often is..."

And the problems persist.

"I can't believe nothing has changed at WSEX after all this time. They're either paying withdrawals through deposits, or have made a business decision that they can take as long as they feel like to pay out, and don't need to improve. Neither is a particularly positive scenario for its players."

Christopher Costigan, Publisher





I only bet very small nowadays. It took 6 weeks to get a lousy $150 in March 2011. I asked for a $200 payout on August 2nd, 2011 and am still waiting (today is 9-17-2011) because of a "backlog". I love their "no-nonsense" site but can't recommend it to my friends, and I have to find another sportbook after 12 years of using them. Very sad. JF
the payment processor excuse is bullshit...if cohen really wanted to pay everyone he could simply open up a checking account at an antiguan bank, deposit wsex funds and then write personal checks to everyone who wanted to get paid the fact that he doesnt shows THAT HE IS A CROOK AND ALWAYS HAS BEEN
I have 4 checks that are 6 months overdue paid 50 dollars each to have them delivered quickly. Have a friend same town cashed out 2 weeks before and he received check that was much smaller than my payout. I think WSEX is paying out small checks and not bigger ones because they can not afford it. I would stay away from this sportsbook if you like to get paid. They can take your deposit right away but do not payout.
Amazing how he used to be on the forums busting balls on every book around and then when WSEX starts having payout trouble he tucks his tail and runs for the hills... Amazing how he did this... a book having trouble is one thing especially with all the banking crap going on with the UIGEA and in Antigua itself, but how your most prominent Spokesperson Disappears when it happens is is downright ludicrous.. Wonder if Shrink and that Idiot poster Chuck Sims is still licking JC's Nutsack now?