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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

  • herberh2

    @stv1313 said...

    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!

    As someone who has inside knowledge of what a site like FA has in users with a cash balance I would set their userbase at about 5-10k. You’d be really surprised how many people just leave

  • BKLionKing

    @herberh2 said...

    As someone who has inside knowledge of what a site like FA has in users with a cash balance I would set their userbase at about 5-10k. You’d be really surprised how many people just leave

    I don’t have the knowledge but was going to say this. I am the only one in my RL friends group that actively played at Aces but when I told them all what happened there were at least 6 that said they for sure had some sort of balance on FA (albeit tiny).

  • theoddsmaker

    • 191

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    @sochoice said...

    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.

    In a sense it’s up to us, the users. I see all this talk all the time of people saying they will play on a smaller site out of spite towards FD/DK, yet never see that many people actually go through with it. Hopefully a great move like this by FantasyDraft gets people to actually walk the walk. I recommend playing on all sites because it helps to have a good variety of different setups, I’ve found I churn out a much more stable ROI% that way. You don’t have to play a site out of spite for another. FantasyDraft has a great product more people should be checking out regardless.

  • jnice83

    hope it goes through for you and others who have money tied up best of luck

  • FantasyDraft_Rep

    FantasyDraft Rep

    @Daut44 said...

    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.

    Hey Ryan,

    Upon court approval, you do not have to agree to or sign a waiver to claim the funds FantasyDraft is offering. However, you should speak to your attorney about your individual situation.

    Steve

  • beare

    WHY i agree its nice of them not sure it is a good business move paying out that much im guessing they will be next site to sink!

  • marker0357

    well done, FD. I’m a small player and think I only had a small float left with FA but honestly can’t remember the exact amount since I expected it to be lost forever. It will just add to my contribution to your site.

  • ohiostate241

    • 2014 FAFC Finalist

      FAFC Finalist
    • 2015 FAWBC Finalist

      FAWBC Finalist

    This is very generous from FantasyDraft. I will be bringing a lot of my play over there.

  • Ryanoss

    • 2015 DraftKings FHWC Finalist

      DraftKings FHWC Finalist

    The night before Aces closed (actually hours before) they ran large NHL and NBA contests. I wonder if the “winnings” from those contests will be included in customer balances.
    I know one player crushed both and it would be quite the swing. I did okay in the NHL one. Also is there any way of checking what our balances should be as I don’t actually recall. It was a decent amount but I would like to be sure.

  • mberkowi

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    @beare said...

    WHY i agree its nice of them not sure it is a good business move paying out that much im guessing they will be next site to sink!

    FDraft previous deal to acquire Aces was more dubious (even when you set aside the reasons it didn’t close). Now, they are acquiring customers who are very grateful and more likely to be retained. As opposed to customers confused why the old site vanished over night and funds were held in limbo as the deal worked towards closing.

    Additionally, some of us, presumably many of the higher volume players, will have FantasyCash to work through and will certainly play on the site.

    While I’ve been critical of all parties since the original deal closed, I’m very happy FDraft has stepped up and reestablished my account balance.

  • Roma315

    • 847

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    Wow nice move. Time to check out this site with a deposit.

  • apollo34

    I would love to leave a ringing endorsement like the rest, but I have a 25.00 ticket that I won for tonight’s 25.00 Single Entry Pick and Roll, that I don’t think I’ll be able to use since I’m a former Fantasy Aces player in New York. So far, nothing but difficulties

  • FantasyDraft_Rep

    FantasyDraft Rep

    @apollo34 said...

    I would love to leave a ringing endorsement like the rest, but I have a 25.00 ticket that I won for tonight’s 25.00 Single Entry Pick and Roll, that I don’t think I’ll be able to use since I’m a former Fantasy Aces player in New York. So far, nothing but difficulties

    You actually won a ticket into the main Pick & Roll not the single entry version. Those tickets haven’t been processed yet but will be shortly. You will see it on your My Contests page under the Upcoming tab.

    There is nothing about the Aces deal that would limit anyone’s play on FantasyDraft now.

  • kame222

    @Ryanoss said...

    The night before Aces closed (actually hours before) they ran large NHL and NBA contests. I wonder if the “winnings” from those contests will be included in customer balances.
    I know one player crushed both and it would be quite the swing. I did okay in the NHL one. Also is there any way of checking what our balances should be as I don’t actually recall. It was a decent amount but I would like to be sure.

    I actually asked this same question on another post and…crickets…

  • FantasyDraft_Rep

    FantasyDraft Rep

    The data is not ours to review until the deal is approved by the bankruptcy court. I would assume the winnings from the final contest will be included but cannot verify that now.

  • sdfern

    First of all thank you Fantasy Draft for becoming a voice for the player community. I hope people follow through with pledges to deposit/play on the site. I will certainly play 100% of the money I get back by reinvesting it through FDraft. Someone had mention previously about the status of pending withdraws from Aces. I cannot recall a response on that particular situation. (if I missed it I apologize). Once again thank you for this awesome gesture to the community.

  • Scumpunch

    The last night that Aces ran contests, I received the usual email telling me that I had won contests on the site. I think that is a good indication that account balances were updated as usual before the site closed.

  • noddy

    I do not have a balance in FA. I do not currently play on FD. But because of this classy move by FD I will be depositing there and playing in the near future. Well done FD!

  • blo227

    This is a good gesture. I dont have a fantasydraft account but this has made me create an account.

  • dirtydistance

    Great news. Will definitely check out this site with my 35 bucks or so I had in my aces account. Can you guys bring the salary pro feature over from aces? Loved that and was really getting the hang of it.

  • cdhaile

    Fantasy draft ham

  • monds6

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    • x2

      2015 DraftKings FCFWC Finalist

      DraftKings FCFWC Finalist
    • 2013 DraftStreet DSFC Finalist

      DraftStreet DSFC Finalist

    I have never played on Fantasy Draft, was surprised to see they have a Virginia License. So with this move, I will play some over there. Definitely something they did not have to do.

  • Scorpio71

    • 299

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    • 2016 FanDuel WFFC Finalist

      FanDuel WFFC Finalist
    • 2014 FAFC Finalist

      FAFC Finalist

    Just wanted to applaud FantasyDraft for this. They had no obligation, but felt it was right for them, the players and the DFS community overall. This goodwill action won’t be overlooked, and you will certainly have more of my business going forwards. Thank you and well done.

  • williamspeaking

    didnt play FA but this is very refreshing to hear. I’ve played some on fantasydraft and will definitely continue to in the future.

  • kykyallstar69

    I made a withdrawal request on January 17th for the $595 that was in my Fantasy Aces Account but they never sent me the paypal deposit before they went bankrupt (not a surprise now after reading through their bankruptcy petition). It sounds like most people who made withdrawal requests in January never received their funds and had their money tied up in limbo. As is standard, my account balance showed $0 right after my withdrawal request was received so technically I don’t have a balance but FA still owes $595 to me. Will I still be able to get my pending withdrawal funds transferred to a Fantasy Draft account? I’m very grateful to them for helping the players that were affected by this terrible disaster and am looking forward to trying out their format. If this deal goes through they’ll certainly have my business.

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