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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.

  • dude_abides7

    @kame222 said...

    It’s it just me or does it look like they left in the middle of the night like the Colts? They obviously knew this was going down before the big tournament last night, but still let people buy in. Did they tourney just go away with nothing to be paid out? This thing smells awful and of course, as usual, the players are the one to suffer with money being tied up and not having a clue because the site pulled off its best David Blaine impersonation. Not good for the industry as a whole.

    Haha…right!

    Was this a random phone call at 3AM bedside?

    Fantasy Draft: Hey, would you like to sell Aces?

    Aces: Hold on, let me ask my wife..she’s laying next to me……….OK, sure sounds good. Send over the paperwork and I’ll sign it tomorrow.

    Fantasy Draft: Do you intend to honor the existing contests, allow users to know what is going on or access their money?

    Aces: Hahah..that’s funny. You made a funny.

  • dakimbell

    @FantasyAces said...

    Hey Guys, will be posting more throughout the day but this should help answer the important questions:

    *Any upcoming contest entries or tickets will be canceled and refunded back to your account. Any pending withdrawals that have not been processed will be refunded back to your account and transferred over the FantasyDraft. Stay tuned for more! – Trent

    LOL, i don’t play on Aces anymore but this is bush league. How about the time (time is money) people spent on researching the NBA and PGA slates that will now be “refunded” to their Fantasy Draft account, that was a waste of time and money.

  • oldschoolways

    That’s a shame, Aces was the one site I was still playing on. Not loving all the consolidations, doesn’t seem very player-friendly.

  • TheAdman01

    Did the games the NBA games last night count? As an attorney, I must say this is very questionable. Players’ funds are deemed trust funds and are not to be included in mergers and acquisitions as part of the business asset. The proper way to have handled this was to send out a mass email putting all Aces players on notice (1 -2 weeks minimum) that an acquisition and merger may be forthcoming. Once a tentative deal was reached, then Aces should have suspended game play, however, maintain the site and allow all players to withdraw their money. These types of acquisitions do not happen overnight, and I am frankly astonished legal counsel for both sites would subject their clients to possible scrutiny and possibly legal action. I have read several posts where people requested their money over 1 week ago. This behavior is fraudulent and a trust fund violation of whatever state Aces was registered in. Simply, the Aces community had a right to know of this forthcoming acquisition. It undoubtedly would affect how members would play, if at all. All Aces members should be credited by the end of today with their account balances. It is not Aces nor Fantasy Drafts money to decide where and when it would be available.

  • dude_abides7

    @TheAdman01 said...

    Did the games the NBA games last night count? As an attorney, I must say this is very questionable. Players’ funds are deemed trust funds and are not to be included in mergers and acquisitions as part of the business asset. The proper way to have handled this was to send out a mass email putting all Aces players on notice (1 -2 weeks minimum) that an acquisition and merger may be forthcoming. Once a tentative deal was reached, then Aces should have suspended game play, however, maintain the site and allow all players to withdraw their money. These types of acquisitions do not happen overnight, and I am frankly astonished legal counsel for both sites would subject their clients to possible scrutiny and possibly legal action. I have read several posts where people requested their money over 1 week ago. This behavior is fraudulent and a trust fund violation of whatever state Aces was registered in. Simply, the Aces community had a right to know of this forthcoming acquisition. It undoubtedly would affect how members would play, if at all. All Aces members should be credited by the end of today with their account balances. It is not Aces nor Fantasy Drafts money to decide where and when it would be available.

    DFS site conduct” and “proper protocol” are two terms that don’t get along. Although I agree with everything you just said, I wouldn’t advise anyone with wasting their time with any legal challenge. You’d be chasing a red herring. These sites do what they want, when they want, with no real concern for the customers or for ‘what is right’.

    USER account funds should not be part of any merger because the money therein is not Fantasy Aces to give. This was done all wrong, but as I stated above, it will all get swept under the rug like every other DFS blunder. What a joke.

  • MrFantasy

    I mean…it would obviously suck for those that won last night in NBA. But I wouldn’t mind being refunded my entries in the $55 contest. It would be bad business and I doubt that’s what would happen as the game started before the site went down.

  • stv1313

    It’s unfortunate that our DFS options are seemingly shrinking every day. The recent “demises” of Fantasy Feud, Rosters, and Fantasy Aces (I played on all three) have really reduced the competition that the Big 2 (soon to be 1) need to worry about.

    I like to play on a lot of different sites each night. It allows me to limit my exposure to particular players while simultaneously taking advantage of pricing differences offered by each site. However, if this recent trend continues, I fear that I’m only going to have the option of playing on 2-3 sites one year from now.

    Sigh.

  • bradizpro

    • 2016 FABC Finalist

    Curious to know how the 1099 is going to work from Aces……thoughts?

  • stv1313

    A January 26, 2017 merger shouldn’t have any impact on the 2016 1099’s that Fantasy Aces would have otherwise been responsible for generating. Fantasy Aces will need to submit a 2016 corporate tax return and part of that process should include the generation and reporting of the appropriate 1099 forms.

  • jdking2722

    I was in some NBA contests last night and received an email that I had won. I am guessing that if you won, you would have received the normal emails saying as much at 3:15AM EST, which was when I received mine.

  • TheAdman01

    I am not suggesting any legal action, just stating that their actions definitely violate their state of incorporation trust fund statute. Hypothetically, it is synonymous to having money in Bank “A”, which is then acquired by Bank “B” and not being able to have access to your money immediately. Aces has a fiduciary duty to all members when dealing with their money. To now withhold and include said funds in the acquisition is wrong.

  • thehazyone

    RG Contributor

    • Blogger of the Month

    FYI

    https://lockerroom.fantasydraft.com/fantasydraft-to-acquire-fantasyaces/

  • BKLionKing

    @thehazyone said...

    FYI

    https://lockerroom.fantasydraft.com/fantasydraft-to-acquire-fantasyaces/

    This was posted earlier and, honestly, adds next to nothing to the discussion around how this went down or with the pending player money.

    As was stated above, the money in player accounts isn’t Aces to sell nor Fantasy Draft’s to purchase. Also, there sure as hell better be a bonus on this initial deposit for those who haven’t had an account on there. In other words, my “bonus, if any” shouldn’t only be transferred from Aces, but I should also have a new depositor bonus from Fantasy Draft, per the fact that the money being transferred isn’t theirs and it’s my choice whether or not to deposit it.

  • Cameron

    RG Co-Founder

    • 2014 FanDuel NFL Survivor Champion

    • 2016 RG Season Long Champion: NFL

    @stv1313 said...

    It’s unfortunate that our DFS options are seemingly shrinking every day. The recent “demises” of Fantasy Feud, Rosters, and Fantasy Aces (I played on all three) have really reduced the competition that the Big 2 (soon to be 1) need to worry about.

    I like to play on a lot of different sites each night. It allows me to limit my exposure to particular players while simultaneously taking advantage of pricing differences offered by each site. However, if this recent trend continues, I fear that I’m only going to have the option of playing on 2-3 sites one year from now.

    Sigh.

    I definitely get this sentiment right now, but am not overly concerned long-term. – I think this was to somewhat be expected after the regulations we saw enacted over the past year or so, and that this will be a low-point of sorts (site offering wise). I believe the sites that are remaining, are here to stay, and that we’ll see new sites emerge in the future, that head into the start of their ventures, equipped & prepared for the new, regulated environment.

  • stv1313

    @Cameron said...

    I believe the sites that are remaining, are here to stay, and that we’ll see new sites emerge in the future, that head into the start of their ventures, equipped & prepared for the new, regulated environment.

    The demise of the I-Team network, in particular, dims my hope for any new DFS sites emerging anytime soon. That was a well-funded start-up that had a good management core, and they couldn’t make it.

    As others have expressed, I’m particulary disappointed by the shutdown of the FantasyAces’ website. At the least, I don’t see why they couldn’t have kept it open so that we could review last night’s results and concurrently review our account balance.

    For the past few weeks, the site hyped the playing of last night’s $25k tournament, yet none of us can currently review the final results of that tournament. That’s rather disappointing. I assume that we’ll eventually gain this access, but I’d like that access sooner – rather than later.

  • Olhausen

    @FantasyAces said...

    Hey Guys, will be posting more throughout the day but this should help answer the important questions:

    *Any upcoming contest entries or tickets will be canceled and refunded back to your account. Any pending withdrawals that have not been processed will be refunded back to your account and transferred over the FantasyDraft. Stay tuned for more! – Trent

    Wait so now the money I requested to withdraw last Saturday to which you guys sent me an email yesterday saying it would be in my PayPal account in three days is now going back to a site that I didn’t even agree to sign up to. This is absolutely horrible business practice and boarder line illegal. I needed the money which was my money and you guys just confirmed why I had never messed with smaller sites before I played on yours.

  • BKLionKing

    @Olhausen said...

    Wait so now the money I requested to withdraw last Saturday to which you guys sent me an email yesterday saying it would be in my PayPal account in three days is now going back to site I didn’t even agree to sign up to. This is absolutely horrible business practice and boarder line illegal. I needed the money which was my money and you guys just confirmed why I had never messed with smaller sites before I played on yours.

    It’s not borderline, it is.

  • kame222

    It really makes me wonder if there were not some mismanagement of funds, robbing Peter to pay Paul, if you will. Why else would they not allow everyone to take out their money and THEN close the site. There’s more to this than meets the eye. Stay tuned…

  • dude_abides7

    @Olhausen said...

    Wait so now the money I requested to withdraw last Saturday to which you guys sent me an email yesterday saying it would be in my PayPal account in three days is now going back to a site that I didn’t even agree to sign up to.

    Bingo….

    But of course there is nothing to see here obviously.

    If Home Depot sold to Lowes in the middle of the night, locked all it’s doors and access to its orders it would be front page news in the paper.

    These sites are run by amateurs and although I am NO FAN of government, I do understand (and I’m starting to agree) that these clowns need to be regulated.

    “Oh, but the guy running Aces is a ‘good dude’”. Give me a break. This is OTHER PEOPLE’S MONEY we are talking about here. I don’t care if these guys saved a ship full of blind nuns, holding puppies, drowning in the middle of the Atlantic Ocean. This is not good and this is likely not legal. It definitely is not good business practice and once again it is a bad optic for DFS to those viewing from the sidelines looking to pounce.

    Great job guys.

  • deez1233

    Here’s a question I get the sense that FantasyDraft has not contemplated, but if so will a FantasyDraft rep please address?
    Whenever I start on a new site I take advantage of the max first time deposit bonus (looks like 100% up to $600 paid out at a rate of 4% of total buy-ins on FantasyDraft) As someone who has never signed up for FantasyDraft, but has an Aces account where I have already played all the way through a variety of bonuses, will my auto-transferred balance count toward a first time deposit bonus?
    This is an important question to be answered before my account is transferred because I will probably give FantasyDraft a shot for at least a couple weeks to see if I like their games. I need to know whether I need to open a new account on FantasyDraft (using the rotogrinders promo code possibly) before the transfer takes place to lock in my first time bonus (and the rotogrinders incentives) if the bonus will not be offered if I simply wait for my account to be automatically generated.
    Can a FantasyDraft Rep please address this?

  • FH1129

    Just received an email from FantasyAces confirming that my account balance will transfer over to FantasyDraft. Bryan and Trent have always been honorable and I would expect that to continue over at FantasyDraft

  • FantasyAces

    Here are the Top 10 from the scoreboard last night. $25K NBA Full Court Press (Aces Going Away Party) https://twitter.com/Fantasy_Aces/status/824713971949146112

    Transition is under way guys. Stand by.

  • TheAdman01

    It’s simple. No one is robbing anyone. However, the deal was structured so Aces members become de-facto Fantasy Draft members. I am sure if Aces gave their member base the opportunity to withdraw their money the number of members that would thereafter deposit into Fantasydraft would be minimal. Most Aces members would most likely deposit into the two bigger sites. Now, take away that option, and Fantasydraft would increase their client base by the number of Aces members overnight. Human nature, or fantasy nature now comes into play. Do I w/draw all my funds from fantasydraft or maybe should I dabble a bit. It is a win win for fantasydraft and Aces the company. Aces get bought out (their founders are thrilled) and Fantasydraft increases exponentially over night. The only loser is……..the Aces members, who don’t have access to their money. As Cal stated, short term this sucks, long term it will be fine. Everyone will get their money, however, information of the merger would have changed a lot of members gameplay, and would have made this merger less profitable for fantasy draft. They have us by the ……you know what….and there is nothing we can do about it.

  • TheAdman01

    And judging by the cell phone picture of the computer screen, we will never have access to the Aces site again as it has been shut down. Adios.

  • dude_abides7

    @TheAdman01 said...

    It’s simple. No one is robbing anyone

    Wrong. It is not “simple”.

    I get your point that they may be trying to facilitate the courtesy of player funds so they can continue play on Fantasy Draft quickly, but that does not make it proper or legal (maybe).

    You said it yourself, they did this to guarantee their user base numbers. Sorry, the money in those accounts is not part of the deal!!!! If you want to transfer account info, logins, even bank deposit info…then fine. But you can’t take someone’s money!

    Your theory is also shit when you realize that many were requesting deposits BEFORE the changeover and they were denied access. They forced a customer to wait to receive something that was not Aces right to withhold. You can spin this anyway you want. This was complete BS.

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