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  • appguy

    Hey guys,

    New here. Does anyone have any experience with FantasyAces and their withdrawal times? I requested a $600 payout to PayPal 7 days ago and still have not received it. Their website says 24-48 hours.

    I would assume these smaller sites would have a heavier focus on customer service, which is why I chose FantasyAces (along with the smaller GPP games). Apparently not?

    MOD NOTE: FANTASYDRAFT PULLS OUT OF ACES DEAL, 1/30: In an official statement from FantasyDraft, the company has said “Unfortunately, because of issues identified during our due diligence, we are unable to purchase the assets of Fantasy Aces. We will continue to provide the best possible daily fantasy experience for our users, and are committed as always to putting our Players First.” We’ll post any additional news as it’s confirmed.

    MOD NOTE (Feb 1, 1:53 AM EST): FANTASY ACES HAS FILED FOR BANKRUPTCY Initially reported here.

    MOD NOTE (Feb 13, 8:40 PM EST): HUGE NEWS VIA FANTASY DRAFT, REIMBURSING FANTASY ACES PLAYERS Initially reported here.

  • LSRDustin

    @sethayates said...

    Also, if you are owed money it would be an incredibly bad idea to attack Trent, Bryan or their dad Thomas.

    This was a refrain constantly for online poker sites going under. The difference between a company paying players what they are owed and not paying them is not whether players say mean things to them or not, imo. Either they are a good actor and will make good, or they aren’t.

  • beare

    im very skeptical of playing any sites but fd and dk many the small sites just up close down ex owntheplay

  • Messiah717

    It would be extremely bad business for DK or FD to bail out this company just based on what kind of mark this could leave on the industry. The point in business is to make money and if you have investors make them money as well. You don’t throw good money after bad and take on debt just for appearances when you yourself have done nothing to cause the current problem in the first place. That’s like saying somebody should’ve bailed out PokerStars just so online poker wouldn’t be looked down upon.

    Frankly, if FantasyAces doesn’t have cash on hand to pay their players they have operated improperly and have mismanaged player funds. I hope that’s not the case but in looking at their latest filed statement it does appear like that. Somebody bailing them out to keep that quiet is even more improper.

  • JimKronlund

    @dude_abides7 said...

    Another bailout did happen…..apparently using your player funds.

    The only other explanation (the one I hope for everyone’s sake is true) is that FD and DK is now looking to scoop them up before they topple the ship. If an active buyout is still being negotiated that would be another legitimate reason for the silence. No one talks when a deal is getting done.

    The other explanation they are being advised by council to clam up because this is about to get a whole lot worse.

    Why buy the cow when you can get the milk free!

  • golferdude31

    • 697

      RG Overall Ranking

    • 2016 King of Summer Champion

    Not entirely sure how this is all going to play out, but hopefully they will at least let people take their money back before taking any further actions such as bankruptcy or anything else.

  • cashmmillion

    • 2016 DraftKings FBWC Finalist

    Players’ cash counts as an asset on these companies’ balance sheets. If they go bankrupt, creditors will seize their assets up until the creditors are made whole. Player cash could be part of that equation. It is very unlikely that players will be made whole in a bankruptcy situation.

  • deadphish

    glad i w/d $1500 in mid December…i must have just made the cutoff. i only had about $50 when they folded.

  • theoddsmaker

    @deadphish said...

    glad i w/d $1500 in mid December…i must have just made the cutoff. i only had about $50 when they folded.

    And we’re all so very happy for you. Unfortunately some of us were high volume players on there and sort of needed to have a fairly large amount of money kept in there. So we weren’t able to successfully peg the day they went belly up.

  • giantsfan12345

    Man this is really sad to hear. I had a bunch of money on Aces this summer (Over 10K) when they were the only site operating in NY. I then switched back to Fanduel once legislation was passed. I remember playing with you in the high dollar baseball 50/50s Oddsmaker. I hope everything works out for you guys. Would be horrible for the industry if player funds are lost.

  • Daut44

    • 2016 DraftKings FBBWC Finalist

    • 2016 FanDuel WFFC Finalist

    I have 50k on aces :(

  • MrFantasy

    @Galante118 said...

    I really don’t think the funds were segregated like they were supposed to be. They can’t cover payouts, and the silence is to find a potential buyer. Just how it seems to me and for everyone’s sake and the future of DFS I hope A) Im Wrong or B) Someone steps up and buys up the mess

    While it’s normally the case other sites have gone under due to investors backing out and suing for their investment capital back.

  • lmorrison745

    Not an encouraging message from FSTA:

    FSTA Members,

    Throughout the history of our industry, there have only been a handful of irresponsible companies. But the bad actions of even one company generates dramatically more negative attention than our combined good acts.

    And, unfortunately, that’s why I’m writing today.

    It appears that Fantasy Aces has shut down and may end up defaulting on its player funds obligation. These situations threaten the stability of other contest operators, and the collateral damage extends to our entire industry.

    Allow me to be unequivocal about the FSTA’s stance on these matters: the FSTA will not be a safe haven for operators who spend customer funds.

    For years, the FSTA has clearly and repeatedly urged contest operators to separate their customer funds from their operating funds. If it turns out that Fantasy Aces spent their players’ funds, we strenuously condemn such action.

    The FSTA supports legislation that ensures player funds are kept separate from operating funds, and those funds remain the property of the players. To that point, customers in some states may have recourse by contacting the appropriate state agencies.

    We have suspended Fantasy Aces’ membership, pending resolution of the matter.

    Paul Charchian
    FSTA President

  • Olhausen

    @Daut44 said...

    I have 50k on aces :(

    My god I feel stupid for being pissed off about my 100$ possibly being gone. I feel sorry for you the oddsmaker and others who could possibly lose big money. It’s absolutely insane what aces is doing and even more insane that some posters on here are doing the I told you so act.

  • derekjetr02

    Hey guys. My wife is gonna leave me if this doesn’t get resolved, soon. :-(

  • theoddsmaker

    @lmorrison745 said...

    Not an encouraging message from FSTA:

    FSTA Members,

    Throughout the history of our industry, there have only been a handful of irresponsible companies. But the bad actions of even one company generates dramatically more negative attention than our combined good acts.

    And, unfortunately, that’s why I’m writing today.

    It appears that Fantasy Aces has shut down and may end up defaulting on its player funds obligation. These situations threaten the stability of other contest operators, and the collateral damage extends to our entire industry.

    Allow me to be unequivocal about the FSTA’s stance on these matters: the FSTA will not be a safe haven for operators who spend customer funds.

    For years, the FSTA has clearly and repeatedly urged contest operators to separate their customer funds from their operating funds. If it turns out that Fantasy Aces spent their players’ funds, we strenuously condemn such action.

    The FSTA supports legislation that ensures player funds are kept separate from operating funds, and those funds remain the property of the players. To that point, customers in some states may have recourse by contacting the appropriate state agencies.

    We have suspended Fantasy Aces’ membership, pending resolution of the matter.

    Paul Charchian
    FSTA President

    think they may just be getting in front of the matter. I don’t think he’s necessarily saying they ARE defaulting on its player funds. just like everyone else, the worry of that increases every hour they stay silent so people are preparing for the worst.

    it’s a little concerning that since aces was a smaller site we haven’t seen too many others in the industry getting too involved probably because they don’t have any funds there. think if people realized that even if they didn’t play on aces just how huge the 3rd/4th biggest site pulling this off will have on the industry as a whole. if you don’t think this will start to get some serious press from outside of the dfs industry let me remind you of last year. i didn’t have any cash on fantasy hub when it went under last year or effected directly by NY getting banned – but you better believe I was on here/twitter/google frantically seeing any developments or seeing what it took for us to help in anyway. we need to all stick together as a community and be a support system for when shit hits the fan. i’m not just talking about crying on the forum to each other, but finding out who we need to reach out to in each of our states to possibly make things right.

  • Daut44

    • 2016 DraftKings FBBWC Finalist

    • 2016 FanDuel WFFC Finalist

    Should have seen this coming….

    Near the end of the NFL regular season (12/26/16), I requested a $30k withdrawal from aces. A couple days later (12/28) Bryan Frisina emailed me asking if I was ok with getting a check instead of a paypal transfer due to the size of the withdrawal and I begrudgingly agreed.

    It took them over a week to finally email me again (1/4/17) and Bryan told me he would fed-ex the check, but I was flying out early the following day to visit my parents and go to a wedding on the east coast and I didn’t want a check sent to me that would be waiting for me somewhere for over a week, so I told him to hold onto it and I’d let him know when I returned to send the check then and he agreed. I replied on 1/14 that I was returning to California and that he could send the check. I added that if it was more convenient I could come pick up the check since I live in Irvine which is roughly 10-15 minutes away from their office.

    Bryan emailed back on 1/16:
    Hey Ryan

    Apologies on the delay. Thanks for the follow up here. Our offices are closed today but I will look into the hold that was placed on it tomorrow for resend.

    Thank you and welcome back.

    I didn’t hear back from them after that so I emailed a week later on 1/23 asking for an update. Didn’t hear back on that, sent another email on 1/25 asking for an update and finally heard back on 1/26 day the Fantasydraft acquisition was announced with Bryan telling me my check was refunded and the balance would be moved forward. And they’ve been silent ever since.

    Was slightly concerned but assumed it was nothing and was busy with other things so didn’t dwell on it or force the issue more.

    Lost $60k+ on full tilt insolvency (took 4 years to receive 40 of 101k I had on the site) as well and ~5k on other smaller poker sites. Never fun and I hope everyone at least receives something.

    Lesson: don’t keep more than a couple days worth of buyins on any site, just deal with the paypal reloads if you have to.

  • kame222

    Waiting for aces statement…

  • ohiostate241

    • 2014 FAFC Finalist

    • 2015 FAWBC Finalist

    I have very little hope Aces will ever provide that update and they are hoping all of this blows over.

  • noddy

    @theoddsmaker said...

    And we’re all so very happy for you. Unfortunately some of us were high volume players on there and sort of needed to have a fairly large amount of money kept in there. So we weren’t able to successfully peg the day they went belly up.

    I saw you a lot on there odds. You don’t have to answer, but how much do you have on there?

  • noddy

    I hope and pray this works out for all you guys that have money on there and for derekjetr02. This is crazy.

  • KlairVoyant

    • 590

      RG Overall Ranking

    • Blogger of the Month

    So is FSTA saying that FantasyAces co-founder lied to me that players funds were segregated?!?!? What good is FSTA when they have members like FA? I was able to infer FA’s was having this problem before they did. It didn’t take detective work!

    https://twitter.com/DavidPurdum/status/826615693823053824

    KV
    Jan 1

    to FantasyAces
    Bryan F.,
    Jamie Bogle

    Marvin S.

    Bryan,

    The other day when we spoke on the phone you told me that players funds were held in a sperate account than the FA businesses operations accounts. When looking over the site or speaking with Marvin I was un able to confirm that. If you remember that was my only concern without regulation within the DFS industry. On the main FA web page the only info I was able to find about that was that “players funds are held in a US bank account”. If I could please get confirmation in writing that FA does in fact keep its players in segregated accounts in writing that would make me much more comfortable continuing doing business with the site. Also I hope that my two withdraws, Transaction # 101294 and Transaction # 101433 made on 12/21/16 and 12/23/16 respectively are being handled in a timely manner. I would like to continue being an active and loyal FA customer. Calming my concerns on these issues would go a long way!

    Thanks for your time and help,

    KV

    Bryan F. (Fantasy Aces) (FantasyAces Support)
    Jan 1, 8:35 AM PST

    Hello KV

    Thank you for reaching out. Yes as we previously discussed our player funds are kept in a segregated account from our operating funds.
    With regards to your recent check request they are both set to be delivered on Tuesday January 3rd and I will provide the tracking information for you once sent.

    Thank you and Happy New Year.

    Bryan
    Bryan F.
    CoFounder
    FantasyAces.com
    FantasyAces, LLC

  • KindGuy

    @derekjetr02 said...

    Hey guys. My wife is gonna leave me if this doesn’t get resolved, soon. :-(

    Just remember, God always has a plan. Stay strong!

  • MrFantasy

    Really hate seeing this stuff but Draftkings will probably step in again here and make things right. I know several players on here had a lot of money on Aces but I’m still thinking total player funds are less than $1m.

  • MrFantasy

    Also, what in the world would FantasyDraft want to do with Aces if they aren’t able to pay their players back? Doesn’t make any sense if that’s the case.

  • theoddsmaker

    @MrFantasy said...

    Also, what in the world would FantasyDraft want to do with Aces if they aren’t able to pay their players back? Doesn’t make any sense if that’s the case.

    afraid that might be why they back out of the deal….

    i hope you are right about DK stepping in possibly. at that point i think it’s safe to say i would become the world’s biggest DK fan.

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