INDUSTRY FORUM

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.

FantasyDraft, you da real mvp!!

It’s great news for those who lost money. As for FantasyDraft. I don’t know what their original purchase price was before the deal fell through with FantasyAces. They might be accomplishing the same thing here at a discount with nice PR and goodwill in the process.

Wow thanks so much FantasyDraft I had 95 percent of my bankroll on Aces. How does the fantasycash work?

Its basically like FDPs of DK points. You cant withdraw the FantasyCash. You can enter any contest with those funds and withdraw any profits from that money though.

I’m glad everyone is getting their money. That is indeed great news. That said, does this mean that these scumbags are not going to jail where they belong now?

An example needs to be made, otherwise this will just keep happening.

+1

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!

My advice, you might want to hold off on that home purchase. Evidently only a portion of your winnings will be returned via the Fantasy Draft reimbursement.

Unfortunately, the agreement would only be giving somebody like you a small portion of their money back. The rest would be in the form of fantasy cash and pending bonuses. The agreement is great for somebody who has 1K or less in their account as they get 100% of their money back.

Thanks for the help guys! I tried to withdraw 20k in January. My withdrawal was pending for a while and I contacted them, they said everything was fine then the file for bankruptcy. It was extremely frustrating. Do you think if I contacted them that they would make a deal with me? Like instead of the 40k I have, that they would agree to give me 10k-20k to lessen there debt?

You should contact a lawyer.

No, they filed for bankruptcy. That will put things in the hands of a trustee.

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Does anyone know if a player with chargebacks will have to then owe the money back to fantasy aces? When I knew they were going belly up I contacted my bank to refund all charges totaling about 5 grand. Can they come after me for this using collections agencies?

Sorry, bro. Bankruptcy = it is gone. Get back what you can from FantasyDraft, good luck out there!

So how’s the timing of the FantasyDraft stuff going to work, and what process do we go through?

Check this thread for FantasyDraft updates:

https://rotogrinders.com/threads/fantasydraft-statement-about-fantasy-aces-players-1736984

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.

Still have found 0 clarity on how to handle this for taxing purposes. Anyone know what the hell I’m supposed to do if i have have ZERO clue how much I won on Aces/Feud last year? Just guessing isn’t good enough because it could be $50k-$120k I honestly have no clue. Does the Chapter 7 wipe that out since I didn’t get all my money? This whole thing is a freaking joke and it’s time to ballpark how much I earned on sites that won’t issue 1099’s are you kidding me? Not to mention a lot of it was monopoly money that I never even got since they spent it all on god knows what

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https://rotogrinders.com/articles/daily-fantasy-sports-tax-reporting-1726331

I don’t see anything in there about how to handle the Aces situation…but I just saw your site and would love to dump my old tax guy and hire you if possible!

As part of the agreement Fantasy Aces is required to provide support to player that may have questions about their accounts. This would go into affect if the deal is approved by the court on Monday.

You should contact them directly at support@fantasyaces.com, they are required to provide support once the deal is approved.

I would have to see how the deal shakes out before I determine anything tax-wise for players.