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  • FantasyDraft_Rep

    FantasyDraft Rep

    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

  • bobo1096

    YALL PRAISING THEM WHILE SOMEONE IS RUNNING WITH OUR $$$$ AND INTEREST !!!! TRIED TO CASH OUT MONTHS AGO ON ACES THEN ALL THIS CRAP. BEWARE DONT LEAVE HI BALANCES IN ANY DFS SITE THEY COULD FOLD ANY DAY AND UR FUCKED

  • Jcb890

    @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.

    I have to assume this was meant to be a joke, right?

    What they should have done is not bail out the players and let FantasyAces deal with this on their own – having to sell their personal items, possibly doing jail time, etc. If any of this gets FA off the hook at all, it is a bad move overall.

  • zigger77

    @bobo1096 said...

    YALL PRAISING THEM WHILE SOMEONE IS RUNNING WITH OUR $$$$ AND INTEREST !!!! TRIED TO CASH OUT MONTHS AGO ON ACES THEN ALL THIS CRAP. BEWARE DONT LEAVE HI BALANCES IN ANY DFS SITE THEY COULD FOLD ANY DAY AND UR FUCKED

    Aka why accounts should be and most of the time are segregated. Aces fucked up big time. DK could go under and we should get every penny back. what aces did was such a scumbag move and didn’t happen overnight.

  • sonicattack

    @bobo1096 said...

    YALL PRAISING THEM WHILE SOMEONE IS RUNNING WITH OUR $$$$ AND INTEREST !!!! TRIED TO CASH OUT MONTHS AGO ON ACES THEN ALL THIS CRAP. BEWARE DONT LEAVE HI BALANCES IN ANY DFS SITE THEY COULD FOLD ANY DAY AND UR FUCKED

    oof.

  • wolfjb1

    I had a balance that I was attempting to withdraw, with an PayPayl withdrawal allegedly in the works when Aces shut down/stole our money. Will that transfer over? I sure hope so!

  • tvsfrink

    @bobo1096 said...

    YALL PRAISING THEM

    Yes. They didn’t have to do this. They had nothing to do with the lost funds, and yet they’re trying to make as many people whole as possible. They deserve praise.

    I agree that it’s prudent to keep smaller amounts on any DFS site these days. BUT THAT DOESN’T MEAN YOU HAVE TO SHOUT AT US FOR RIGHTLY THANKING SOMEONE WHO DID THE RIGHT THING FOR ONCE.

    Good day sir.

  • blackeyedjoe

    Hats off to FantasyDraft. Well done.

    J

  • mmarseil

    • 2015 FAWBC Finalist

      FAWBC Finalist

    If this officially goes through, it looks like I’ll now have a new favorite DFS site!! Thanks for stepping up FantasyDraft, can’t wait to try the site out.

  • btwice80

    • 439

      RG Overall Ranking

      RG Overall Ranking
    • Ranked #79

      RG Tiered Ranking

      RG Tiered Ranking

    Very grateful to FantasyDraft and look forward to playing my FantasyCash.

    The 99.6% figure is interesting. That means there’s more than a couple thousand people with balances because there’s definitely more than eight who had more than $1,000.

  • Bam79

    I’ve been playing at FantasyDraft for a while now and it’s always been a good experience.

    Onward and upward, guys!

  • Aniesdad

    • 335

      RG Overall Ranking

      RG Overall Ranking
    • Ranked #71

      RG Tiered Ranking

      RG Tiered Ranking
    @headChopper said...

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

    I believe with this, they have earned some of mine as well. Good Job Fantasy Draft!

  • Daut44

    • 93

      RG Overall Ranking

      RG Overall Ranking
    • Ranked #67

      RG Tiered Ranking

      RG Tiered Ranking
    • 2016 FanDuel WFFC Finalist

      FanDuel WFFC Finalist
    • 2016 DraftKings FBBWC Finalist

      DraftKings FBBWC Finalist

    Great move fantasydraft and congrats to the 99.6% (and fantasydraft who hopefully becomes a major major player after this), but this is a horrible deal for me. Think my EV was actually higher dealing with bankruptcy court and potential fraud lawsuits.

  • tvsfrink

    @Daut44 said...

    potential fraud lawsuits

    Can’t you still pursue this?

  • herberh2

    A couple things.

    1. The .4% of top account balances could be 500k of the ~1M in customer accounts. So its likely a huge amount that they had to cut out to make this possible.

    2. This is going to result in a horrible customer acquisition cost for FantasyDraft. There is likely a large overlap of FA users and FantasyDraft users, so they aren’t acquiring many new customers relatively speaking. This is going to be a big cost and from a business standpoint I would bet it doesn’t make sense from a numbers perspective. The gains are intangible in the form of goodwill and fixing any splash damage that FA going under may have caused in the form of FantasyDraft users not feeling safe for their balances.

    The best way anyone made whole by this can be thankful is by playing regularly on FantasyDraft. If I lived in a state that allowed DFS I would support them for this.

  • TMH887

    This is a boss move by FantasyDraft. A move like this demonstrates to everyone how business should be conducted. You don’t see stuff like this nearly enough!

    I wasn’t affected by this situation, but you’ve earned my business regardless. Great job, FantasyDraft!

  • Stewburtx8

    • 631

      RG Overall Ranking

      RG Overall Ranking
    • 2012 FanDuel WFBC Finalist

      FanDuel WFBC Finalist
    @Daut44 said...

    Great move fantasydraft and congrats to the 99.6%, but this is a horrible deal for me. Think my EV was actually higher dealing with bankruptcy court and potential fraud lawsuits.

    This is definitely a great move by FantasyDraft and should be applauded. I have no skin in the game but the above is my concern. Does the actions by FantasyDraft here essentially bail out the criminals from Fantasy Aces? Can those in the 0.4% still pursue fraud lawsuits against Fantasy Aces even if they were “paid” a pending bonus for their full account balance?

  • misterfunn

    only had a couple hundred dollars at Aces so I wasn’t one of the people who was massively affected by their financial negligence but i’m definitely going to play FantasyDraft on a consistent basis going forward, especially with their unique lineup construction and the value add of having a couple strong industry alternatives to the FanDuel/DK monopoly. top notch move by FantasyDraft and kudos to them.

  • deadphish

    • 509

      RG Overall Ranking

      RG Overall Ranking
    • Ranked #68

      RG Tiered Ranking

      RG Tiered Ranking
    @herberh2 said...

    A couple things.

    1. The .4% of top account balances could be 500k of the ~1M in customer accounts. So its likely a huge amount that they had to cut out to make this possible.

    2. This is going to result in a horrible customer acquisition cost for FantasyDraft. There is likely a large overlap of FA users and FantasyDraft users, so they aren’t acquiring many new customers relatively speaking. This is going to be a big cost and from a business standpoint I would bet it doesn’t make sense from a numbers perspective. The gains are intangible in the form of goodwill and fixing any splash damage that FA going under may have caused in the form of FantasyDraft users not feeling safe for their balances.

    The best way anyone made whole by this can be thankful is by playing regularly on FantasyDraft. If I lived in a state that allowed DFS I would support them for this.

    …this! i cant understand how this is a good investment.

  • Jc801

    Feels like I just won a gpp. I had just over 5k on my aces account and was pretty much done with dfs. I do have a fantasydraft account, but it only had balance of $185.00. Huge thanks FantasyDraft I am looking forward to using my fantasy cash and playing more on your site.

  • jhorst52

    • 22

      RG Overall Ranking

      RG Overall Ranking
    • Ranked #19

      RG Tiered Ranking

      RG Tiered Ranking
    • x2

      2016 FanDuel WFFC Finalist

      FanDuel WFFC Finalist
    • x2

      2016 DraftKings FFWC Finalist

      DraftKings FFWC Finalist

    FantasyDraft GOAT

  • stv1313

    • 209

      RG Overall Ranking

      RG Overall Ranking
    • Ranked #19

      RG Tiered Ranking

      RG Tiered Ranking
    @btwice80 said...

    Very grateful to FantasyDraft and look forward to playing my FantasyCash.

    The 99.6% figure is interesting. That means there’s more than a couple thousand people with balances because there’s definitely more than eight who had more than $1,000.

    My guess is that a majority of those “couple thousand people” had pennies in their account and those accounts had, essentially, become dormant. Those dormant accounts certainly help the 99.6% computation.

    Personally, my Fantasy Aces monthly ranking was usually around #20 and I had about $5k in my account. I assume that the 19 people ahead of me all had balances in excess of $1,000, as I was typically playing $300-$400/night on the site. So with that being said, 20 users divided by 0.4% comes to 5,000 total users. That seems crazy high. Maybe I’m missing something?!? After all, it’s hard to do math in a forum. :-)

    Regardless, I am eternally grateful to FantasyDraft for this gesture. With my balance at/around $5k, my own account essentially hits the “sweet spot” of users who should be made completely whole. I will do my best to give FantasyDraft all the action I can afford from this point forward. Thanks!

  • GrindUnumb

    I am thankful to FantasyDraft for stepping out like this, and will certainly be increasing my action there for the foreseeable future. Not only is this great for myself and other RG members affected. It’s really big as it relates to the casual players we often overlook. For many of those recreational players losing their balance would have driven them away from DFS.

  • Cobra_Kai

    Time to deposit and play on Fantasydraft. Kudos to you guys for stepping up.

  • bradizpro

    • 2016 FABC Finalist

      FABC Finalist

    Awesome move, FantasyDraft !!

  • sochoice

    Excellent marketing move by Fantasy Draft. Now let’s hope they make it for the long haul and don’t fall by the wayside like some others as the industry gets tougher.

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