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Steve Schillinger in happier times.

Steve Schillinger, Founder, World Sports Exchange

In 1996, Steve Schillinger left behind a successful career as a stock broker to pursue his dream of setting up a stock market style commodities exchange for sports fan.

Though his plan didn’t go off as planned, it quickly morphed into what we know today as the online sports betting industry.

Even though Schillinger was based in Antigua, the US Government indicted him for violating the Federal Wire Act and promised to arrest him if he ever returned to his homeland. Schillinger stayed on in Antigua where he continued running WSEX until last spring when the company suddenly went out of business.

Two weeks later, Schillinger was found dead with a single bullet hole in his head. Whether he was the victim of foul play or suicide has never been determined. Schillinger’s story shows that while sportsbetting is a victimless crime, the government’s vendetta against it is most assuredly not.

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