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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

    You should get piece of mind for any site registered in New York: http://www.legalsportsreport.com/12961/ny-proof-of-dfs-funds/

  • mmarseil

    • 2015 FAWBC Finalist

    Holy crap that Hitler video is hilarious!!

  • Messiah717

    @LSRDustin said...

    You should get piece of mind for any site registered in New York: http://www.legalsportsreport.com/12961/ny-proof-of-dfs-funds/

    It should be very interesting to see what develops from this. Hopefully DK and FD have been doing the right thing or else the trouble in New York will be back and ten times worse.

  • GrindUnumb

    Looking over the filing this was about the worst thing possible to read.
    “After any administrative expenses are paid, no funds will be available to unsecured creditors.”

    Players would be considered “unsecured creditors” and it sounds like there is little hope for our player funds.

  • MickyD10970

    • 421

      RG Overall Ranking

    • Ranked #37

      RG Tiered Ranking

    @LSRDustin said...

    You should get piece of mind for any site registered in New York: http://www.legalsportsreport.com/12961/ny-proof-of-dfs-funds/

    Looks like there may also be some recourse through wire fraud – noticed this on the link to quoted article

    http://www.legalsportsreport.com/12950/fantasy-aces-wire-fraud-possibility/

  • jakz101

    • $1M Prize Winner

    • x5

      2015 DraftKings FFWC Finalist

    I just read this entire thread from start to finish. Kind of crazy the amount of optimism that was shown early on, only to prove to be completely misplaced. I feel awful for everybody that had money on FA. I especially feel horrible for the guys who had a large % of their bankroll on Aces. I don’t have a lot to add, just wanted to give my condolences to everybody.

  • breedloveboxer

    As someone who had most of their bankroll on FA, thank you, Jakz101. I appreciate it.

  • breedloveboxer

    @MickyD10970 said...

    Looks like there may also be some recourse through wire fraud – noticed this on the link to quoted article

    http://www.legalsportsreport.com/12950/fantasy-aces-wire-fraud-possibility/

    California’s hottest club is… Taft Federal Correctional Institution.

    This place has everything. Burly men named Tiny, psychos, an albino that looks like Susan Powter, sun burned drifters with soap dud beards, Bernie Madoff’s cousin (twice removed), Teddy Graham people. Teddy Graham people? It’s that thing when a guy has the stumpy arms, but with the belly.

  • btwice80

    @GrindUnumb said...

    Looking over the filing this was about the worst thing possible to read.
    “After any administrative expenses are paid, no funds will be available to unsecured creditors.”

    Players would be considered “unsecured creditors” and it sounds like there is little hope for our player funds.

    We live in a country where you can use the use the bankruptcy laws to weasel out of paying your bills/creditors like three different times and then eventually become the President, so why not use it to screw a few fantasy sports nerds?

    In all seriousness, this is the first time I’ve heard of DFS players being creditors for DFS sites. Is this the first time we’ve been referred to as such or did I miss something? Is it true—are we, legally speaking, creditors?

  • wolfjb1

    @btwice80 said...

    In all seriousness, this is the first time I’ve heard of DFS players being creditors for DFS sites. Is this the first time we’ve been referred to as such or did I miss something? Is it true—are we, legally speaking, creditors?

    Yes, it is true.

    At the simplest level, a creditor is a person or company to whom money is owed. Money is owed to all DFS players. We are creditors.

    Our debts are not secured. Apologies if I’m telling you something you already know, but one can “secure” a debt by putting up collateral (like your house, your car, the securities which you own, etc.).

  • KindGuy

    @wolfjb1 said...

    Our debts are not secured. Apologies if I’m telling you something you already know, but one can “secure” a debt by putting up collateral (like your house, your car, the securities which you own, etc.).

    Brings back memories. 12th grade IPE……..

  • btwice80

    @wolfjb1 said...

    Yes, it is true.

    At the simplest level, a creditor is a person or company to whom money is owed. Money is owed to all DFS players. We are creditors.

    Ah, guess I was conflating creditors and investors.

    I still don’t understand how they can get away with pretty much openly admitting to burning through our account balances when we never agreed to our deposits being used for operational expenses.

  • trevor_holda

    @killab2482 said...

    I want to make a post on this Fantasy Aces situation. I did have a personal call with Trent on Thursday morning. He really did think FantasyDraft was buying Aces. Now that we know the sale is not going through I think we legitimately have to give them some time to reopen their website. With all that said, restricting players from their balances for over 6 days(4 biz days) is unacceptable. I don’t think we can just put 100% blame on FA. They thought FD was purchasing their company and they obviously did not do enough background research on FA before committing to buy them. This is ridiculous in my eyes. I think blame can be spread 60/40 on this whole situation. I know the guys behind Fantasy Aces enough to say they will do what is right here with 100% confidence. I personally have over 10k in my account, but I’m still not ready to smear FA’s name through mud until I get more info.

    lol, nice man. should of just rolled with me when i called out trent

  • KindGuy

    @killab2482 said...

    I want to make a post on this Fantasy Aces situation. I did have a personal call with Trent on Thursday morning. He really did think FantasyDraft was buying Aces. Now that we know the sale is not going through I think we legitimately have to give them some time to reopen their website. With all that said, restricting players from their balances for over 6 days(4 biz days) is unacceptable. I don’t think we can just put 100% blame on FA. They thought FD was purchasing their company and they obviously did not do enough background research on FA before committing to buy them. This is ridiculous in my eyes. I think blame can be spread 60/40 on this whole situation. I know the guys behind Fantasy Aces enough to say they will do what is right here with 100% confidence. I personally have over 10k in my account, but I’m still not ready to smear FA’s name through mud until I get more info.

  • Hkhotsskhotb

    So this guy thought he was selling a business that had stripped almost all players funds away for their own purposes. This guy must be delusional besides dishonest.

    A lot of big players have chimed in on this board in this case. I’ve seen quite a bit of talk about leaving dfs. If we can have the third biggest site swipe money from players there’s an enormous crisis of confidence. That’s going to be a problem for the big two, the small sites, content providers etc.

    Since this has gone down, don’t have a lot of interest in playing. All dfs entities had better be putting in all effort possible to resolve this and make players whole.

  • Messiah717

    @Hkhotsskhotb said...

    So this guy thought he was selling a business that had stripped almost all players funds away for their own purposes. This guy must be delusional besides dishonest.

    A lot of big players have chimed in on this board in this case. I’ve seen quite a bit of talk about leaving dfs. If we can have the third biggest site swipe money from players there’s an enormous crisis of confidence. That’s going to be a problem for the big two, the small sites, content providers etc.

    Since this has gone down, don’t have a lot of interest in playing. All dfs entities had better be putting in all effort possible to resolve this and make players whole.

    I ask myself the same question when I revisit what happened with FantasyAces. Did they think they were going to fool another company into buying them? As for DFS overall it’s another chink in the armor every time something like this happens. I’m interested in seeing what happens with New York’s request the the DFS companies release their full financials.

  • onepinrodney

    @madmanjayWV said...

    They might be able to take down their crappy Youtube videos in an attempt to run and hide….but they can’t take down classic stuff like this.

    I think I’ve watched it six times since yesterday!

    http://www.captiongenerator.com/342712/Hitler-Fantasy-Aces

    “Those a$$holes had the business sense of a 4 year old.”
    “I was lured in by the GD YACHT.”
    “It wasn’t even a nice yacht.”
    “TommyG has a better one himself.”

    This video is priceless, perfect dialogue, made me feel a little better after being robbed.

  • trevor_holda

    only spittin truth

  • jlooney

    This is absolutely crazy! I’m assuming that my cash that I withdrew when the site was working on January 23rd to my PayPal account isn’t going thru? Two days later it says transfered to FD & now it says update coming soon? What a crock

  • WCHprime

    @sambo58 said...

    I noticed the same thing before this all came down on my withdrawals in the past month from DK. They also seemed to take a little longer to be approved and sent to PayPal than normal.

    Does this mean I should be taking 90% of my funds off of dk now too? Just in case?

  • KindGuy

    @jlooney said...

    This is absolutely crazy! I’m assuming that my cash that I withdrew when the site was working on January 23rd to my PayPal account isn’t going thru? Two days later it says transfered to FD & now it says update coming soon? What a crock

    Wait there are people who STILL don’t know about this whole situation? Oh boy…..

  • shamrock77s

    @elementasrat said...

    Wait there are people who STILL don’t know about this whole situation? Oh boy…..

    I would assume that there are quite a few. Of the people that I know that play DFS, none of them were aware of Rotogrinders site when discussing DFS with them.

  • bhdevault

    • Lead Moderator

    • Blogger of the Month

    @shamrock77s said...

    I would assume that there are quite a few. Of the people that I know that play DFS, none of them were aware of Rotogrinders site when discussing DFS with them.

    I play in a weekly poker league with 27 guys, when it first started, not a single one knew RG existed. None of them have any idea about the industry, they just enter some gpps and hope to hit.

  • Yeoman

    @btwice80 said...

    Ah, guess I was conflating creditors and investors.

    I still don’t understand how they can get away with pretty much openly admitting to burning through our account balances when we never agreed to our deposits being used for operational expenses.

    I don’t know that they specifically need your agreement, at least in unregulated states. But what they can’t do is tell you they’re keeping your deposits in segregated accounts, and then not do it.

  • ohiostate241

    • 2014 FAFC Finalist

    • 2015 FAWBC Finalist

    Fantasy Aces should have had a super bowl commercial then filed for bankruptcy before having to pay just go for broke

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