INDUSTRY FORUM

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  • FantasyDraft_Rep

    • FantasyDraft Representative

    Grinders,
    As members of the DFS community committed to doing things the right way, we feel that we need to do our part to protect the lifeblood of the industry, you the players. So, we have decided to get involved. Today we have entered into an agreement with the FantasyAces bankruptcy trustee to obtain player account and balance information in order to help reimbursing missing player funds.

    Through this agreement, we have committed to reimburse Fantasy Aces players up to $1,000 cash to cover missing account balances, this makes 99.6% of the players whole. In addition, to help those with larger balances we are also going to offer the following:

    • Players with a Fantasy Aces cash account balance between $1,000 – $5,000:
      • We will provide $1,000 Cash + Remaining balance in FantasyCash up to $4,000 ($5,000 total)
    • Players with a Fantasy Aces cash balance >$5,000:
      • We will provide $1,000 Cash + $4,000 FantasyCash + a Pending Bonus for the remainder of your balance
      • Pending Bonus is earned at a rate of 4% for each $1 in entry fees paid in USD, and is paid as FantasyCash

    Upon court approval, we will provide additional detail on how you can claim your funds on FantasyDraft.

    I want to reiterate that FantasyDraft is committed to being a responsible citizen of the DFS community. That means we do things the right way, and your funds will ALWAYS be segregated and protected. We are licensed or registered in all states that have passed DFS regulation and are compliant in each. When we say that We Put Players First, we mean it.

    Steve Krombolz
    CEO & Co-Founder

  • flip4flop

    That’s awesome and such a great move by Fantasy Draft!

    PS care to buy back my stock in Aces? It’s not much. I’ll promptly give it back to the site :)

  • Cal

    RG CoFounder & Admin

    • 327

      RG Overall Ranking

    • $1M Prize Winner

    • x4

      2015 DraftKings FFWC Finalist

    This is huge. Major thanks to Steve Krombolz, CFO Tim Weisbrod, and financial backer Robert Stevanovski for working this deal through the bankruptcy court.

    For those with over $1,000 in your accounts, Fantasy Cash is not quite real cash, but it’s pretty damn close. You have to play through it one time and then you can cash it out. Hopefully you like what you see on FantasyDraft and continue playing. They understand your hesitancy with keeping a balance on any site after the Aces debacle so we’re discussing ways to be more transparent to the community with player funds. You not only need reimbursement, you also need ongoing reassurance.

    My understanding is that this deal now becomes public and that other parties can try to outbid it. If the bankruptcy judge expedites it you may be able to access your reimbursement on FantasyDraft in a week. If it’s not expedited it could take a few weeks.

    Once again, huge props to FantasyDraft.

  • KindGuy

    I’ll be looking forward to getting my $1 back. Thanks!

  • keg4540

    • 109

      RG Overall Ranking

    • Ranked #15

      RG Tiered Ranking

  • Scumpunch

    • 805

      RG Overall Ranking

    Wow, incredible news! I’ll be repping my FantasyDraft T-shirt with pride tomorrow, and will absolutely be increasing my action on the site going forward. Thank you!

  • SnowShark

    All I can say is WOW!!! So incredible for FANTASY DRAFT to make this move. Just Amazing!!!

  • boomanfoo

    I will look forward to playing a lot more volume on Fantasy Draft

  • petey28

    Hell yeah

  • tmirrione

    Tremendous news! Kudos to the Fantasy Draft team. Here’s to hoping this pays off huge for your organization.

  • tnib

    Woooo Hoooo! Thank you Fantasy Draft!!!!

  • kswetnam1342

    Don’t play on either site, but that is a big time move by Fantasy Draft.

  • headChopper

    RG Contributor (OG Status)

    • 212

      RG Overall Ranking

    • Ranked #19

      RG Tiered Ranking

    • $1M Prize Winner

    • 2014 DraftKings FBWC Finalist

    Wow. That’s huge for the players. I think Fantasy Draft earned some of my business with this move

  • HeroesofWar

    If you truly put all players first you’d repay the funds of the guys over $1000.

    Those are the biggest victims of industry fraud, and that should be a drop in the bucket.

  • jmbwngfn

    4x FSWA Writer Nominee, RG Admin

    • 2011 FanDuel WFBC Finalist

    @HeroesofWar said...

    If you truly put all players first you’d repay the funds of the guys over $1000.

    Those are the biggest victims of industry fraud, and that should be a drop in the bucket.

    Literally every single player is better off because of this…..

  • southside

    As someone with a larger balance, I almost wrote DK asking about a huge roll over on account balance, but figured it wasn’t in their best interest to bail out smaller site customers. So, obviously I think this is a great deal. Very cool guys.

  • Choco26

    @HeroesofWar said...

    If you truly put all players first you’d repay the funds of the guys over $1000.

    Those are the biggest victims of industry fraud, and that should be a drop in the bucket.

    Some people can ALWAYS find something to bitch about.. Guarantee you the guys w/ large balances are thrilled about this too.

  • jakz101

    • 127

      RG Overall Ranking

    • Ranked #83

      RG Tiered Ranking

    • $1M Prize Winner

    • x5

      2015 DraftKings FFWC Finalist

    Very proud right now to play on Fantasy Draft and host the Fantasy Draft Happy Hour twice a week. Well done Steve and the rest of the Fantasy Draft team.

  • skeeter1114

    • Blogger of the Month

    Definitely didn’t expect this, but hope everything works out well for Fantasy Draft, and nice to see FantasyDraft step up. Too bad no one from Aces had a little bit of this decency.

  • KlairVoyant

    • 195

      RG Overall Ranking

    • Ranked #26

      RG Tiered Ranking

    • Blogger of the Month

    If this goes through FantasyDraft will have earned my business!

  • rgreuli

    What a great move by Fantasy Draft. I haven’t played much on your site but showing that you care I intend to play more on your site.

  • gosixersgo76

    • 16

      RG Overall Ranking

    • Ranked #15

      RG Tiered Ranking

    Such a classy move by Fantasy Draft that I may have to deposit.

  • VChair23

    • 857

      RG Overall Ranking

    Pretty amazing for all of the people who had $ on Aces.

  • glloyd95

    DK loyal but Fantasy Draft just earned a deposit from me with such a classy move…Thanks for speeding up the healing process of a black-eye to our DFS community!

  • breedloveboxer

    I love you, Fantasy Draft.

  • shockermandan

    • Moderator

    @KlairVoyant said...

    If this goes through FantasyDraft will have earned my business!

    Agreed. Hoping this goes through, and thank you FantasyDraft!

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