MAIN FORUM

Comments

  • Ryazan

    • 865

      RG Overall Ranking

      RG Overall Ranking
    • x3

      2015 FanDuel WFFC Finalist

      FanDuel WFFC Finalist
    • x2

      2015 FanDuel WFBC Finalist

      FanDuel WFBC Finalist

    I ask this for a reason – I was up big at some point with MLB this past summer, and I hit the newly established deposit limit of 1K per month in MA. Good regulation, and if it was followed by Fanduel, I wouldn’t even post this. However, I was allowed to raise my deposit limit to 5K for providing “proof of income” by giving them my 2015 1099 form that stated my winnings from 2015, but that gave no proof of how badly I was doing in 2016. Fanduel also had on record how much I lost playing NBA for the first 3 months of 2016 (80% of my 2015 overall winnings, + what I owed for taxes for my 2015 winnings). Horrible management on my part, I know, that is not even up for discussion – I was completely horrible in that personal aspect.

    But it didn’t stop there – when I couldn’t win on a 5K monthly deposit limit, Fanduel permitted me to wire up to $30,000 straight from my bank account, seemingly completely ignoring the Massachusetts regulation of 1K per month (or 5K per month, if legally my 2015 winnings even matter as “proof of income”) – I did not have a high paying real job, in fact I was unemployed for a while, and I never gave them proof of anything other than my 2015 1099 winnings form (they were aware of all my 2016 losses after that).

    I pretty much withdrew 30K from my bank account in no time, and I seriously wonder, did Fanduel break Massachusetts regulations law by allowing me to do this?

    http://www.mass.gov/ago/consumer-resources/consumer-information/dfs/

    Limitations on Consumer Deposits: A DFSO shall not allow a DFS Consumer to deposit more than $1,000 in any calendar month, provided however that a DFSO may establish and Prominently Publish procedures for temporarily or permanently increasing a DFS Consumer’s deposit limit, at the request of the DFS Consumer, above $1,000 per calendar month.

    If established by a DFSO, such procedures shall include evaluation of information, including income or asset information, sufficient to establish that the player can afford losses that might result from gameplay at the deposit limit level requested.

    When a temporary or permanent deposit level limit increase is approved, the DFSO’s procedures shall provide for annual evaluation of information, including income or asset information, sufficient to establish a player’s financial ability to afford losses at the deposit limit level in place. Absent such evaluation, the temporary or permanent deposit level increase shall not be extended.

    • Link
    • Last Updated 8 months ago
  • iron_tactics

    @sethayates said...

    The intent of the law is that there are roadblocks to what happened here. Not to stop people from doing what Ryazan did. The idea is that if you are blowing through $1K/month you have to actively go out of your way in order to get the limit raised. In this case, the person who requested the increase did just that.

    Why wouldn’t his 2015 SF1099 be sufficient? What should the site be required to ask for? I could easily create a fake pay stub (based off my real one). If I sent FanDuel a paystub saying that I make $12,000 per month they can’t verify that. What makes the most sense is to use the data they already have in house. Ryazan was a winning player last year. He’s played high volume for quite some time. He’s the ideal candidate for a deposit limit increase.

    Again, the intent was never for $1,000 to be the firm limit. They just wanted a point where people would stop and say, “Wow, I’m losing a lot of money, maybe I should back off.” If someone is going to twice request an increase there’s not much else you can do.

    Also, keep in mind this wasn’t a credit card deposit. This was $30K in cash from his bank account. In some ways, that’s almost enough proof that “I can afford this” all by itself. On FanDuel’s end of these transactions you have to believe they assume their customer is using some common sense and this $30,000 bank wire isn’t their entire balance.

    Nope, sounds like he should be awarded 50 million in a lawsuit and DFS be banned in most states, gone the way of fireworks. Ultimate GPP win right there

  • Jaredmlevitt

    @Ryazan said...

    Its up to the site to follow regulation, i didnt force Fanduel to bypass the law, i just told them id stop playing if they couldnt figure something out

    And fanduel didn’t force you to deposit 30k.

  • Ryazan

    • 865

      RG Overall Ranking

      RG Overall Ranking
    • x3

      2015 FanDuel WFFC Finalist

      FanDuel WFFC Finalist
    • x2

      2015 FanDuel WFBC Finalist

      FanDuel WFBC Finalist
    @jjwd said...

    You’re not going to get much sympathy in this forum Ryazan. Maybe you’re a great guy, but you’re one of the most annoying posters of all time. What you’re going to get here is non-lawyers flapping their gums, and real lawyers telling you to contact a lawyer. And a bunch of people tangentially riffing on the perils of addiction. If this turns into another long Ryazan thread I might have to jump out the window.

    Not asking for sympathy.

    I just wanted it to be known that it seems like Fanduel is doing things to bypass regulations in my state. My 2015 1099 allowed my limit to be raised to 5k, but why was i told i can wire up to 30k when i told them id stop playing?

  • rpak1

    @Ryazan said...

    Not asking for sympathy.

    I just wanted it to be known that it seems like Fanduel is doing things to bypass regulations in my state. My 2015 1099 allowed my limit to be raised to 5k, but why was i told i can wire up to 30k when i told them id stop playing?

    Ryazan, did you make any deposits after the $30K wire transfer?

  • jjwd

    @Ryazan said...

    Not asking for sympathy.

    I just wanted it to be known that it seems like Fanduel is doing things to bypass regulations in my state. My 2015 1099 allowed my limit to be raised to 5k, but why was i told i can wire up to 30k when i told them id stop playing?

    Looks like you can’t read too well. Contact a lawyer, if you really care, and stop polluting the forum.

  • Ryazan

    • 865

      RG Overall Ranking

      RG Overall Ranking
    • x3

      2015 FanDuel WFFC Finalist

      FanDuel WFFC Finalist
    • x2

      2015 FanDuel WFBC Finalist

      FanDuel WFBC Finalist
    @Jaredmlevitt said...

    And fanduel didn’t force you to deposit 30k.

    But they allowed me to, even though the regulation in place states that they can only allow a 5k monthly limit with the income proof i had provided them

  • sethayates

    @jaguar21 said...

    I would just call the ma attorney general office. They made the rules. Good luck

    I think he would get better results with this number:

    855-222-5542

  • MrFantasy

    @sethayates said...

    The intent of the law is that there are roadblocks to what happened here. Not to stop people from doing what Ryazan did. The idea is that if you are blowing through $1K/month you have to actively go out of your way in order to get the limit raised. In this case, the person who requested the increase did just that.

    Why wouldn’t his 2015 SF1099 be sufficient? What should the site be required to ask for? I could easily create a fake pay stub (based off my real one). If I sent FanDuel a paystub saying that I make $12,000 per month they can’t verify that. What makes the most sense is to use the data they already have in house. Ryazan was a winning player last year. He’s played high volume for quite some time. He’s the ideal candidate for a deposit limit increase.

    Again, the intent was never for $1,000 to be the firm limit. They just wanted a point where people would stop and say, “Wow, I’m losing a lot of money, maybe I should back off.” If someone is going to twice request an increase there’s not much else you can do.

    Also, keep in mind this wasn’t a credit card deposit. This was $30K in cash from his bank account. In some ways, that’s almost enough proof that “I can afford this” all by itself. On FanDuel’s end of these transactions you have to believe they assume their customer is using some common sense and this $30,000 bank wire isn’t their entire balance.

    All you need to know.

    Thread closed.

  • jdelsas

    While your limit is still high, I’d max out any unused credit limits you have too. It’s never too late to get in over your head.

  • MrFantasy

    @jdelsas said...

    While your limit is still high, I’d max out any unused credit limits you have too. It’s never too late to get in over your head.

    I mean that’s how he got his start in fantasy and it worked then so I’m sure it’ll work again, right?

  • Ryazan

    • 865

      RG Overall Ranking

      RG Overall Ranking
    • x3

      2015 FanDuel WFFC Finalist

      FanDuel WFFC Finalist
    • x2

      2015 FanDuel WFBC Finalist

      FanDuel WFBC Finalist

    Its as if the deposit limit regulation didnt matter to them in my case

  • Lathum

    @Ryazan said...

    Im not here to talk about my bad decisions, im here to talk about Fanduel breaking regulation law, especially one that was put into place specifically to save morons like me from myself

    Self exclusion is in place to protect morons like you from yourself.

    It’s like getting mad at the bartender because your an alcoholic and got drunk.

    • Link
    • Last Updated 8 months ago
  • neogamer

    • 2013 FanDuel WFBBC Finalist

      FanDuel WFBBC Finalist
    • 2015 FanDuel WFBBC Finalist

      FanDuel WFBBC Finalist

    Ryazan, What kind of resolution are you looking for here if they did break the law in allowing you to deposit so much money in a short amount time?

  • bhdevault

    Lead Forum Mod

    @neogamer said...

    Ryazan, What kind of resolution are you looking for here if they did break the law in allowing you to deposit so much money in a short amount time?

    Yes, I second that question. What are you looking for here?

  • priceisrite

    I’m guessing when FanDuel sees this thread they will just impose a ban on you too enforce responsible gaming.

  • MrFantasy

    @neogamer said...

    Ryazan, What kind of resolution are you looking for here if they did break the law in allowing you to deposit so much money in a short amount time?

    He’s upset he lost his $30k. He wants to know why Fanduel didn’t protect him.

    Fanduel has self-exclusion and you are able to set your own deposit/contest limits separate from what MA regulation states. Fanduel did what they could with what you provided them. You wired the money from your own account. They used the information YOU sent them to verify your income as best as they could. The MA regulation is a bit foggy but Fanduel didn’t do anything wrong.

    • Link
    • Last Updated 8 months ago
  • Razzle11

    @Ryazan said...

    But they allowed me to, even though the regulation in place states that they can only allow a 5k monthly limit with the income proof i had provided them

    The link with the regulations does not state anything about a $5K max as an increase number. So I do not get where you are getting it from. They initially allowed you to go to $5K and then above that. What this sounds like is that they gave you an increase but not to the top of their “range” for you based on your 2015 1099. Much to your surprise, they DON’T keep track of your daily, weekly, monthly losses closely to monitor how much you are blowing through. I’ve tried to get them to even let me know what I started the year with as a balance so I can try to update my spreadsheets after missing months of deposits and withdrawals.

    You provided the proof, the regulation states a review on an Annual basis. You exhausted the $5K then threatened to deposit your play elsewhere, so my guess is they made a decision with your 1099 since it was within the “annual” term yet and allowed you to do $30K. They aren’t required to dig into your entire financial status. You provided the proof of income and then the ability to wire $30K directly.

    Are they now supposed to be the babysitters and watch EVERY LITTLE THING? I’ve read the regulations a dozen times and do not see anything that puts FD in the wrong here. As others have pointed out, there are loopholes that allow the sites to make a determination on their own. There is no strict numbers listed in the regulation above the $1K

  • kbarnhill7523

    • 317

      RG Overall Ranking

      RG Overall Ranking
    • x2

      2017 FanDuel WFBBC Finalist

      FanDuel WFBBC Finalist
    @bhdevault said...

    Yes, I second that question. What are you looking for here?

    3rd…

  • jojo491048

    @edro990 said...

    If I’m reading you correctly, you are calling FD out for letting you make deposits that you feel broke the rules. Would you be taking this road if you doubled or tripled your money? Interesting………………

    This is probably one of the more poignant and insightful comments of this thread.

    My guess is no, he would not have made this post and could have cared less about “deposit limits” if he had been net positive. In fact, he would have made a thread whining about why FD didn’t allow him to deposit even more or else he could have won even more money with all the money is his bank account!!!

    SHAME SHAME SHAME

  • Lathum

    My guess is he is hoping to get his money back. He is a gambling addict. They are always looking for a way to get even.

  • iron_tactics

    @Lathum said...

    My guess is he is hoping to get his money back. He is a gambling addict. They are always looking for a way to get even.

    Yeah, but if that’s the case, really need to follow already given advice, withdraw whatever is left, self exclude and get help.

  • Ryazan

    • 865

      RG Overall Ranking

      RG Overall Ranking
    • x3

      2015 FanDuel WFFC Finalist

      FanDuel WFFC Finalist
    • x2

      2015 FanDuel WFBC Finalist

      FanDuel WFBC Finalist

    Ok a resolution has been met. I have seen the various opinions, so i will indeed just follow up with the MA AG.

    I never intended to discuss my issues or any of that, i only wantes opinions on state regulations being properly followed. Our MA AG was nice enough to set these in place last year, so i dont think her office will be happy to hear that it doesnt look to be followed.

    Forget my situation, i think MA DFS regulations were not followed.

  • Ryazan

    • 865

      RG Overall Ranking

      RG Overall Ranking
    • x3

      2015 FanDuel WFFC Finalist

      FanDuel WFFC Finalist
    • x2

      2015 FanDuel WFBC Finalist

      FanDuel WFBC Finalist
    @iron_tactics said...

    Yeah, but if that’s the case, really need to follow already given advice, withdraw whatever is left, self exclude and get help.

    My fd account is closed dont worry

  • MrFantasy

    @iron_tactics said...

    Yeah, but if that’s the case, really need to follow already given advice, withdraw whatever is left, self exclude and get help.

    There is nothing left most likely.

  • fjbourne

    • 54

      RG Overall Ranking

      RG Overall Ranking
    • Ranked #45

      RG Tiered Ranking

      RG Tiered Ranking
    @Ryazan said...

    Then around July of 2016 i won around 30k in mlb and withdrew it all, and then ran into the newly established 1k deposit limit.

    That’s exactly what I thought happened. They treated your 30k “deposit” as a “refund” of your prior 30k withdrawal. Did Fanduel mention this to you at all? When I went through this process (with paypal) FD was completely transparent with the transaction.

  • X Unread Thread
  • X Thread with New Replies*
  • *Jumps to your first unread reply

Sites mentioned in this thread

Use our links to sign up and deposit on sites listed in this thread to get these bonuses:

  • FanDuel

    Get a FREE 3-month subscription to our FanDuel Premium content (a ~$90 value) by signing up through one of our links!

    Learn More
  • DraftKings

    Sign up for DraftKings using a RotoGrinders link & receive our DraftKings Premium content FREE for 3 months. That’s a ~$90 value! No DraftKings promo code necessary!

    Learn More
  • FantasyDraft

    Sign up for FantasyDraft through one of our links and say you were referred by “GRINDERS” to receive a cashback bonus of 4% on all entry fees (up to $5,000) for 90 days after your first deposit. You’ll also receive a comped 3-month subscription to our FantasyDraft Premium content, an additional ~$90 value FREE!

    Learn More
  • Draft

    Create your account using Draft promo code “GRINDERS” and receive a free $3 Entry as well as TONS of exclusive Grinders-only perks.

    Learn More

Subforum Index

RotoGrinders.com is the home of the daily fantasy sports community. Our content, rankings, member blogs, promotions and forum discussion all cater to the players that like to create a new fantasy team every day of the week. Our goal is to help all of our members make more money playing daily fantasy sports!

Disclosures: All RotoGrinders content contributors are active DFS players. Contributor screen names can be found on their respective RotoGrinders profile pages. Contributors reserve the right to use players or strategies not discussed in their content on RotoGrinders.