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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.

  • Messiah717

    It’s simple. They were taken over and that’s the only aspect they cared about. They didn’t and don’t care about players they’re no longer going to be doing business with.

  • rainbowtroutman

    @Cal said...

    Considering FantasyAces suspended withdrawals, they may not have the funds to hold hostage. If you’re directing this at FantasyDraft I think you are misplacing your frustration.

    What gives them the right to “suspend” the players money? Are you serious? People need that money for bills and life sometimes. I know you will suspend me after this statement,not that I care because I don’t play DFS anymore, but when I joined RG 5 or 6 years ago in the Draftstreet days, RG used to care about the players. Now,every post is defending the few sites that remain. Like I have said, DFS is dying.

  • Cal

    RG CoFounder & Admin

    • 291

      RG Overall Ranking

    • $1M Prize Winner

    • x4

      2015 DraftKings FFWC Finalist

    @rainbowtroutman said...

    What gives them the right to “suspend” the players money? Are you serious? People need that money for bills and life sometimes. I know you will suspend me after this statement,not that I care because I don’t play DFS anymore, but when I joined RG 5 or 6 years ago in the Draftstreet days, RG used to care about the players. Now,every post is defending the few sites that remain. Like I have said, DFS is dying.

    That’s my point, they don’t have the right. Frustration should be directed at FantasyAces, not FantasyDraft.

  • Messiah717

    @Cal said...

    That’s my point, they don’t have the right. Frustration should be directed at FantasyAces, not FantasyDraft.

    Sorry, but I disagree with this completely. FantasyDraft knew full well they were going to be taking control of these player’s funds. They would of course do so because it obviously betters their chances of keeping those players at their site playing once the acquisition took place. If FantasyAces announced what was taking place, halted contests and released everyone’s funds then they would still play but not necessarily at FantasyDraft. Then when funds get transferred some might still end up leaving but chances are FantasyDraft still maintains a decent pool of players. This would all be in the details of the acquisition so I don’t believe people should just be frustrated at one entity when clearly both know the details of what’s going on.

  • kame222

    Very well said. 100% correct!

  • OsRitmos

    I never understood acquiring another site’s players, especially when the site is as well known as Fantasy Aces. It’s not like those on FantasyAces didn’t already know of FantasyDraft and are miraculously going to become players overnight. I’m sure some will, but most will grab their funds and leave. Acquisitions only really make sense if the new company has a distinct competitive advantage that the acquiring company doesn’t have or can’t have. As far as I can tell there’s not much different between these sites aside from roster composition and player pricing. Was this a move to take out the competition (a competitor who perhaps wanted to exit for relatively cheap in a dying industry anyway)?

  • dude_abides7

    @OsRitmos said...

    Was this a move to take out the competition (a competitor who perhaps wanted to exit for relatively cheap in a dying industry anyway)?

    My guess – this move was to save the ass of a shady site operation that was using “segregated” player funds for operational uses. And I agree with @Messiah717 that Fantasy Draft must have been aware this was going on when they bought them and thus this makes them indirectly complicit since the purchase somehow was connected to the player funds accounts and their transfer from one entity to another.

  • kame222

    It doesn’t matter what someone wanted to do with THEIR money, pay bills, gamble, hire a stripper, or wipe their arse! Bottom line is no ones money should be tied up in a site they didn’t sign up for. Period!

  • theoddsmaker

    How do they know which accounts are linked to fantasydraft? SSN? We supposed to email them? They supposed to email us?

  • skeeter1114

    • Blogger of the Month

    Here is still what I don’t get: Why was the balance transfer and account linking not all done prior to the announcement? I believe when DraftKings bought both DraftStreet and StarStreet, within 24 hours of the announcement, they had it set up where players could directly transfer balances from the old sites to DK. I also think once you did that, you could immediately withdraw. Why could something similar not be done here?

    Another thing that bothers me is how long did Aces know this was going down? We saw Aces not offer golf tournaments until Wednesday morning. Even as of Wednesday night after NBA/NHL Lock, they continued to post games for the next day. Why would you do that if you knew within hours, the news was going to be announced? Also, why cease operations an hour or two after the biggest NBA tournament you offer all year, and not allow people to see how they did? I think the way this went down has been awful.

    Finally, it would be nice if someone from FantasyDraft would at least give some status updates as far as how long they think it will be until the transfers are complete, and to let us know if there are any delays. In a time where we already have a lot of questions about what may or may not have happened to Aces, the lack of updates by FantasyDraft or someone who was with Aces, is starting to concern me a bit.

  • Fainterj

    So, to answer the question above I went ahead and asked Fantasy Draft this question instead of coming on here being upset at them and here is the answer I received.

    “When the time comes for that transition to take place, you will be notified to confirm your FantasyDraft account so that we can process the transfer.

    You’ll be notified via email when that will happen, so please be on the lookout for communication from us soon.”

    I would imagine there are many legal items they need to have covered before just moving money. The same as if a company you bought stock in was sold to another company.

  • bonuscash

    • 2019 DraftKings FBWC Finalist

    • x2

      2014 FAFC Finalist

    Aces was a publicly traded company. They couldn’t give out any details or hint to anyone about the possible sale. They did not handle this well, but my guess is they were told not to say anything to anyone once the initial announcement was made. They had to carry on as “business as usual” until the sale was public.

    Aces seemed to be suffering from a cash-flow perspective, which you could tell from their attempts at raising capital, their PR and not offering any more live tourneys. However, if they lied about segregated accounts(especially as a publicly-traded firm) they would be opening themselves up to a huge legal nightmare from not just players, but every investor and any exchange they are listed on. The controlling directors of that firm most likely don’t have multi-million dollar golden parachutes on this one and I highly doubt they would risk exposure over what couldn’t have amounted to a lot of money.

    My guess is the directors of Aces did the math, realized the math didn’t add up without fresh capital and decided it was better to cut whatever losses they could and enter talks with FDraft. They couldn’t make the transition seemless, like with what DK did in the past, because they don’t have the manpower to pull that off. Plus, this is a fairly dead part of the DFS season.

    What I don’t understand is why they used cash to acquire Feud customers. That didn’t make any sense for a company trying to keep as much cash on hand as possible.

    Fdraft has been absolutely amazing to its customers and has done everything right, so far. I hope they have the backing to keep growing until they are more profitable. We badly need a competitor to keep the rake at 10 percent and help grow the industry. Otherwise, 25 percent rake here we come!

  • bhdevault

    • Lead Moderator

    • Blogger of the Month

    Mod Note

    Deleted some posts that simply weren’t needed. Let’s keep this thread on topic. Bickering back and forth only takes the attention away from the original topic.

    Thanks

  • skeeter1114

    • Blogger of the Month

    @bonuscash said...

    Aces was a publicly traded company. They couldn’t give out any details or hint to anyone about the possible sale. They did not handle this well, but my guess is they were told not to say anything to anyone once the initial announcement was made. They had to carry on as “business as usual” until the sale was public.

    To some degree, I can agree. But, what bothers me is the posting of NBA/NHL games 6 hours before closing of the site. What harm would there have been to not offer games? Same thing with the Golf Tournaments. They were not posted on Monday, like they always were. Instead, I didn’t see them until Wednesday morning (maybe sooner). Regardless, why create new games when you know the merger and closing of the site is that imminent? Even if carrying out business as usual, that shouldn’t apply when business is closing within hours.

  • britdevine

    • 2014 StarStreet MLB Playboy Mansion Finalist

    Is there any word when balances will be available on fantasydraft? The draftstreet takeover was nearly instant?

  • TheAdman01

    No Britt. But this is outlandish. For me it’s not the money it’s the principal and lack of details that I am struggling with. Aces and draft essentially stole the money. 0 percent chance I give this site a penny if the money is ever transferred. They clearly knew about it because they acquired aces. It was all about boosting their membership. This is why the industry has a bad wrap situations like this emphasize the need for regulation. Aces and draft misappropriated the funds. People that say only blame aces need to realize that draft is now aces and they are an mere successor company who is responsible for the actions of the company they just purchased.

  • kame222

    I have a feeling many will pull their money due to the way this was handled. There’s no way they could have thought this was a good idea. If anyone thinks this will only take 3-5 business days, which idk why weekend days don’t count cause I’m pretty sure they operate a little different than a conventional business, I think we would have some type of idea if something was to happen by Wednesday. Don’t hold your breath. This is a travisty and if I had won that tournament I would be livid! But again, I don’t care if it’s $5 or $5000 it’s 100% WRONG and ILLEGAL.

  • Gopackgo30

    @bradyolson2 said...

    Well boys it looks like my days of DFS are finished unless I move out of the State of Idaho. Unfortunately Fantasy Aces was the only site I could play on here in Idaho. First, I lose Draft Street, then Idaho bans DK and FD, now RIP fantasy aces. Can’t a man just play some DFS? Haha but seriously this sucks!

    Me too man!! I am from Idaho as well and FA was my only spot to play. Is there any chance that Fantasy Draft allows Idaho players to participate? Why was fantasy aces able to continue anyway? Would really love to see Fantasy Draft offer Idaho players a chance to be involved.

  • tnib

    I, too, wasn’t pleased with how this went down as a long time, faithful Aces player. But I kind of knew something was up when I tried to deposit money there very recently and didn’t pass their “verification process”. I had to talk to Marvin at customer support and he got things squared away. It seems there were actions taken about both money coming in and leaving the site. I certainly hope the transfer of funds is quick and seamless.

    As far as playing on Fantasy Draft compared to Aces….it’s a different animal and I actually like the fact that there isn’t much info available regarding playing Fantasy Draft slates. I like their very open rostering options. I deposited $50 on Fantasy Draft the day after Aces closed and am waiting for my Aces bankroll….but quickly found playing Fantasy Draft to be a lot of fun with it’s rostering flexibility and salary structure. I hope it brings in Aces Salary Pro game as an option combined with their rostering flexibility. I hope people don’t avoid Fantasy Draft due to this situation. It’s a good site and has good customer service. Good games. I’ve won every night on the site but I think I’m going to still like the site as soon as I have a night where I don’t cash. Trying to stay positive in all of this. It will be a great relief to see my Aces funds in my Fantasy Draft account.

  • ohiostate241

    • 2014 FAFC Finalist

    • 2015 FAWBC Finalist

    I’ve been looking for a reason to start playing on Fantasy Draft but just haven’t had the time. This move definitely is one that I am favor of as I will now get a chance to try out their site. Here’s to hoping that the bankrolls get moved over in the 3-5 business days timeframe that they mentioned so I can start playing there.

  • DoubleTime

    • 2016 King of Summer: August

    I am a big fan of FantasyDraft, I’ve only had positive experiences with their site, wish I had time to play there more often (they have rake free H2H’s which are awesome). I’m sure they want this thing finished as bad as anybody, and I have no doubt they will get everybody situated asap. I don’t think FantasyDraft should be blamed for the way Aces handled closing their site (continuing to offer contests and giving no warning). Also don’t think FantasyDraft should be blamed for the way Aces handled our money. If as soon as our money is transferred, FantasyDraft makes it available to withdraw, all they have done with our money is the right thing. Still sucks if you had a lot of money on Aces, even a little bit of uncertainty is hard to take with your money.

  • mberkowi

    • 762

      RG Overall Ranking

    • 2018 DraftKings FHWC Finalist

    What happened to the Fantasy Draft rep? How do they not realize every day our money is in limbo, the customer conversion rate is decreasing and they are bleeding away value of the acquisition. Good luck retaining any acquired customers after this poor execution. Another small foot note in DFS sites being terrible at running a business.

  • SouthernShield

    Granted I have very little $$ tied up in this situation, but I just don’t see the reason for all this vitriol.

    If you have a brain, you know they are trying to get it done as fast as possible. In the scenario some of you seem to think is reality is that they are just sitting around doing nothing and laughing at you whining about the situation.

    Any money you have on a site that isn’t FD or DK or Yahoo is money you should be prepared to lose. If you NEED DFS money to survive then you shouldn’t be playing DFS.

  • mberkowi

    • 762

      RG Overall Ranking

    • 2018 DraftKings FHWC Finalist

    @SouthernShield said...

    If you have a brain, you know they are trying to get it done as fast as possible

    Enlighten me on an acquisition in another industry that was for the purpose of customer acquisition and had immediate adverse effects on the acquired party’s customer base.

    The execution of this deal is beyond foolish. Whatever items are being worked out now should have been finalized prior to Aces shutdown and refusal to process withdrawals

  • tsteeves

    @SouthernShield said...

    Any money you have on a site that isn’t FD or DK or Yahoo is money you should be prepared to lose. If you NEED DFS money to survive then you shouldn’t be playing DFS.

    This is a joke right? Just because someone doesn’t play on one of the bigger sites they should be willing to lose money. Also I doubt everyone upset with how this went down “needs” their DFS money to survive but it’s fair for people to expect some communication about how THEIR funds are being handled and will be available. And you Southern have no justification in assuming certain people don’t have a brain. Insulting others isn’t needed and helps nobody.

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