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

  • precator

    @That_Veronica_Vaughn said...

    Hey guys I’m looking for some advice. I am NOT trying to gloat at all, just really need advice. I was a player on FantasyAces and I had really good success. I had about 40k in my account so when they went bankrupt I was beyond screwed. Can someone please offer advice with what I should do? I am young and was going to use the funds to help put a down payment on a house and give my fiance a great honeymoon later this year. ANY advice would be awesome. Thanks everyone!

    Here is some advice.. Withdraw MOST OF YOUR BANKROLL from any DFS Site after you win. Do not use it as a bank, it doesn’t collect interest and its not insured! Just leave in what you will play for the week, if you lose it all put in more from what you withdrew.

  • Ryanoss

    • 2015 DraftKings FHWC Finalist

    @That_Veronica_Vaughn said...

    Hey guys I’m looking for some advice. I am NOT trying to gloat at all, just really need advice. I was a player on FantasyAces and I had really good success. I had about 40k in my account so when they went bankrupt I was beyond screwed. Can someone please offer advice with what I should do? I am young and was going to use the funds to help put a down payment on a house and give my fiance a great honeymoon later this year. ANY advice would be awesome. Thanks everyone!

    I would double check the court documents to make sure your amount is correct. There are only two users over 40k and two others over 35k. You may have to pursue separately or something. Or hire a lawyer.

  • Messiah717

    Sadly, if you had plans for those funds you shouldn’t of had them sitting in a DFS account. As was mentioned your collect no interest, it’s not insured and there’s absolutely no benefit to it at all. Heck you could’ve thrown it into a six month CD and made 1% on it. Then contact an accountant pay off the estimated tax so you don’t have to worry about it and you’re all set.

  • BKLionKing

    Guys he gets that it shouldn’t have been left there now. However, that is a pretty damn easy place to hide the funds from your fiance and God knows what she may have wanted to do with them if she knew they existed. He’s simply asking for advice on what to do now.

  • Cpjttogether

    If he really had 40k in there he or she did nothing wrong.theres guys posting 10k h2h on fan duel everyday.They need to give him his money back.rg kept track of the stats from fantasy aces the same as if they where dk stats or fd stats.there was employees of rg playing on fantasy aces and there profiles showed the stats.that sent a message fantasy aces was a legitimate company in my opinion.

  • therayray81

    • 2011 FanDuel WFFC Finalist

    • 2012 DraftStreet DSFC Finalist

    @That_Veronica_Vaughn said...

    Hey guys I’m looking for some advice. I am NOT trying to gloat at all, just really need advice. I was a player on FantasyAces and I had really good success. I had about 40k in my account so when they went bankrupt I was beyond screwed. Can someone please offer advice with what I should do? I am young and was going to use the funds to help put a down payment on a house and give my fiance a great honeymoon later this year. ANY advice would be awesome. Thanks everyone!

    You should really contact a lawyer to see what your options are at this point in time. Asking for advice on this forum is like asking Chris Christie for weight loss advice.

  • Olhausen

    This is awesome. I only had 100.00$ on aces but I had planned on playing a lot more over there this next MLB season before the nightmare started. I will now be doing this on fantasy draft with this recent good news.

  • Genghis_Khan

    FantasyDraft, this is truly amazing what you are doing. Thank you so, so much!!!!

  • AtomicCity42

    Nice..major props. Wish my account was not at zero but techinically that falls under the less than 5000 lol

  • stv1313

    Like many other users yesterday, I received the email notice regarding the motion that seeks approval for the sale of Fantasy Aces to FantasyDraft. For the first time, I see my user name (in Exhibit 1) associated with this debacle.

    I find it interesting that the bankruptcy is reporting my balance at exactly $100 less than the number I expected. Considering that I had over $5k in my account, I’m not going to complain about a $100 discrepency. With that being said, has anyone else been able to accurately verify the account balances being reported in Exhibit 1?

    The only reason I know my exact balance is that I happened to take a screen shot of my account after the last night’s contests settled (around 2am). I can only assume that I’m in the minority and that most people will need to simply trust that Exhibit 1 is correct – especially if you entered any contests that final night.

  • TheImmortalGoud

    @stv1313 said...

    I find it interesting that the bankruptcy is reporting my balance at exactly $100 less than the number I expected. Considering that I had over $5k in my account, I’m not going to complain about a $100 discrepency. With that being said, has anyone else been able to accurately verify the account balances being reported in Exhibit 1?

    The only reason I know my exact balance is that I happened to take a screen shot of my account after the last night’s contests settled (around 2am). I can only assume that I’m in the minority and that most people will need to simply trust that Exhibit 1 is correct – especially if you entered any contests that final night.

    My balance was within the range I expected it to be.

  • gridironguru99

    • 840

      RG Overall Ranking

    Hi all –

    I have a relationship with a reporter in the SoCal area that is writing a piece on the FA collapse. Would love to offer additional sources – if you’re a player who has lost significant capital on Aces, please DM me as this will be crucial to telling the real story. You will need to go on record and will likely be quoted. I need about 4-5 people.

    Thx.

  • That_Veronica_Vaughn

    Thanks for the advice guys! I attempted to withdrawal but it did not go. And I agree not using it as a bank. I was not trying to do that I won the money in a 4 or 5 week span which is why I did not withdrawal sooner

  • swingaway

    I didn’t have any money left in Aces- will certainly open up an account on Fantasydraft- you guys will get my business.
    I played on Aces through baseball, while DK and FD were temporarily shut down in NY.
    Does anyone know about 1099s for Aces going out? Probably a question for a different thread but I’ll give it a shot-
    If you win money on one of the sites- can you offset it with losses on a different site?
    Thanks and looking forward to playing on Fantasydraft come baseball.

  • deadphish

    @TheImmortalGoud said...

    My balance was within the range I expected it to be.

    my name is not even on list…i had roughly $100

  • fsunole64

    • 23

      RG Overall Ranking

    • Ranked #22

      RG Tiered Ranking

    • 2014 DraftKings FFWC Finalist

    • 2018 DraftKings FFWC Finalist

    How can I see how much money if any I had? I got an email from the trustee but cant seem to find how much I had left on the site?

  • golferdude31

    • 971

      RG Overall Ranking

    • 2016 King of Summer Champion

    @deadphish said...

    my name is not even on list…i had roughly $100

    Yeah, mine is listed but says “Unknown” for the amount under exhibit 1. I wonder if Fantasy Draft has any more explanation on what that means? Maybe they just didn’t report all of the player balances on there.

  • stv1313

    Are we all looking at different documents?

    Golferdude, the document that I received showed that you had a balance of exactly $xxx.

    fsunole64 had a balance of $xxx. Deadphish had a balance of $xxx.

    As I said before, my balance was off exactly $100 from what I thought, so I think these numbers are good.

    EDIT: I had originally posted the exact balances for users, but that may not be such a great idea, so I took them out.

  • jayz4dayz72

    @stv1313 said...

    Are we all looking at different documents?

    Golferdude, the document that I received showed that you had a balance of exactly $1,874.42.

    fsunole64 had a balance of $14.32. Deadphish had a balance of $31.41.

    As I said before, my balance was off exactly $100 from what I thought.

    I don’t see any monetary amount listed in Exhibit 1 , only my real name and address with “unknown” for my amount owed.. i see no mention of my username, please assist me STV1313 if you can? Thx !!

  • stv1313

    I sent you a PM, jayz4dayz72

  • ohiostate241

    • 2014 FAFC Finalist

    • 2015 FAWBC Finalist

    @jayz4dayz72 said...

    I don’t see any monetary amount listed in Exhibit 1 , only my real name and address with “unknown” for my amount owed.. i see no mention of my username, please assist me STV1313 if you can? Thx !!

    Sent you a PM for the file that I received on Monday. The lawfirm has since taken it down, it was 742 pages, but I have a PDF version.

  • stv1313

    They’ve taken the 742 page document down, ehh? I’m glad that I also saved the pdf on my pc.

  • jayz4dayz72

    Thx guys, I appreciate your help.

  • jayz4dayz72

    @ohiostate241 said...

    Sent you a PM for the file that I received on Monday. The lawfirm has since taken it down, it was 742 pages, but I have a PDF version.

    For some reason , i didnt receive your PM. If you dont mind , can you try to send it again? I appreciate your help.

  • That_Veronica_Vaughn

    Hey can one of you guys PM me the list of Players and the money left in the account. I cannot find the document. Thank you

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