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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.

  • kellykip

  • skeeter1114

    • Blogger of the Month

    Unreal. What’s next in this story

  • dude_abides7

    “And this why we can’t have nice things!”

    Now the real fun begins. Anyone want to lay action on what news agency picks this whole debacle up first?

    Way to go DFS. Another self inflicted wound.

  • jayz4dayz72

    WTF!!!!!!!!!!!!!!!!!

  • boomanfoo

    Not a word from FA support only getting a auto reply

  • jayz4dayz72

    https://fantasyaces.com/

  • nickcupolo

    • 2016 FanDuel WFBBC Finalist

    @Stewburtx8 said...

    I don’t see a scenario where you do not get your funds back. It sucks they are tied up but Fantasy Draft would not acquire Fantasy Aces player base and account balances without honoring and making those balances whole. They said 3-5 business days to close the transaction. Today is only the 2nd business day. Has it been handled well? No. Should it take 3-5 business days to finalize? I really have no idea. Should have both sites provided better communication? Absolutely. All valid complaints, but everyone is going to get their balances back once the deal finalizes.

    Here is the scenario where they do not get their funds back

  • flip4flop

    Well that stock is up in flames. Enjoy my $200 hope they payed for a few drinks at the live finals.

  • dude_abides7

    @Stewburtx8 said...

    I don’t see a scenario where you do not get your funds back.

    How about now Stew?

    Of course none of us know the full truth here but two things are factual:

    1) FA stopped processing withdraws several days ago.

    2) FantasyDraft pulled out of this deal once they finally got to review the internal workings of FA as part of their due diligence. For them to pull out AFTER publicly celebrating the merger is a big deal. Whatever they found was not an oversight, but rather a literal deal-breaker. It was very bad.

    To say this implosion isn’t due to the status of those player funds is beyond naive.

  • KlairVoyant

    • 762

      RG Overall Ranking

    • Blogger of the Month

    Dec 31, 11:25 PM PST

    This is a follow-up to your previous request #32546 “Fantasy Aces Contact Request”

    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

  • kame222

    I was pretty sure that something like this was going to happen but tried to stay optimistic, well, no longer…this will not end well. Believe that!

  • Gopackgo30

    Perhaps Fantasy Aces will be able to resume operations as before. Is there a chance in the world that happens?

  • dude_abides7

    @kame222 said...

    I was pretty sure that something like this was going to happen but tried to stay optimistic, well, no longer…this will not end well. Believe that!

    Your tinfoil hat is cutting off the oxygen to your brain. I am sure this is all a big misunderstanding and everything is fine. There is nothing to suggest that something like this would happen in the DFS industry…..oh wait, that’s right…..never mind.

    Anyone who is shocked here hasn’t been paying attention. If FA doesn’t produce access to those player funds as soon as humanly possible, then someone needs to go to jail. There is no other way around it.

  • oldschoolways

    Uh oh.

  • kame222

    @Gopackgo30 said...

    Perhaps Fantasy Aces will be able to resume operations as before. Is there a chance in the world that happens?

    Slim to none and Slim went offshore

  • ItzJamesFTW

    @dude_abides7 said...

    Your tinfoil hat is cutting off the oxygen to your brain. I am sure this is all a big misunderstanding and everything is fine. There is nothing to suggest that something like this would happen in the DFS industry…..oh wait, that’s right…..never mind.

    Anyone who is shocked here hasn’t been paying attention. If FA doesn’t produce access to those player funds as soon as humanly possible, then someone needs to go to jail. There is no other way around it.

    Going to be polite here and ask you to stop attempting to ensue a mass panic. You’ve gotten your point across but you don’t need to keep telling people they’re wrong. Wait for an official statement before you go off the rails. Has this been handled poorly? Obviously. But there has been nothing to say player funds aren’t secure. There are a ton of moving parts in an acquisition and player funds may not have been the root of the issue. Just chill for a day and see what Aces said before you get everyone freaking out because you keep telling them the worlds exploding. (it could be even, not ruling out that you’re right, it’s just not helping.)

    Also: “Player account funds are supposed to be kept segregated from operational funds at any DFS site. That’s per the paid-entry contest operator charter of the Fantasy Sports Trade Association, of which Fantasy Aces is a member.”

  • Stewburtx8

    • 2012 FanDuel WFBC Finalist

    @dude_abides7 said...

    How about now Stew?

    Of course none of us know the full truth here but two things are factual:

    1) FA stopped processing withdraws several days ago.

    2) FantasyDraft pulled out of this deal once they finally got to review the internal workings of FA as part of their due diligence. For them to pull out AFTER publicly celebrating the merger is a big deal. Whatever they found was not an oversight, but rather a literal deal-breaker. It was very bad.

    To say this implosion isn’t due to the status of those player funds is beyond naive.

    Yeah I was so close to putting in my post “unless the deal falls through” but I am really surprised Fantasy Draft would announces this deal and then back out. I would of thought the due diligence would of occurred before announcing the acquisition. But obviously we do not know all the facts. Definitely a really bad sign. Hopefully Fantasy Draft makes a full statement on this and hopefully Fantasy Aces (or someone else) steps up to take care of the players with account balances in limbo.

  • Messiah717

    They’re supposed to be but that doesn’t mean there were. Especially if money problem arose within the company. I do hope this ends well for everyone involved. It’s just not a good sign when a take over that was announced is suddenly called off because a company didn’t like what it found while doing it’s research. Lets be honest. There had to be a lot wrong or something glaring.

  • Cal

    RG CoFounder & Admin

    • 554

      RG Overall Ranking

    • $1M Prize Winner

    • x4

      2015 DraftKings FFWC Finalist

    @ItzJamesFTW said...

    Also: “Player account funds are supposed to be kept segregated from operational funds at any DFS site. That’s per the paid-entry contest operator charter of the Fantasy Sports Trade Association, of which Fantasy Aces is a member.”

    Aces also has a temporary NY DFS permit, which requires segregated player funds. The FSTA does not do audits and I’m not sure what was required to get the NY permit. I reached out to the Aces guys after this announcement and have not received a response. Holding out hope this resolves positively but the halting of withdrawals + FantasyDraft pulling out of the deal are bad signs.

  • Olhausen

    To me this is bad news for the smaller sites as well as the industry as a whole. I know I have now played my last days ever on a small time site after this crap.

  • JimKronlund

    @Olhausen said...

    To me this is bad news for the smaller sites as well as the industry as a whole. I know I have now played my last days ever on a small time site after this crap.

    I am afraid that may be the real fall out from this and monopolies are never a good thing.

  • KlairVoyant

    • 762

      RG Overall Ranking

    • Blogger of the Month

    DraftDuel/ FanKings should step in here and save the Fantasyaces players like Pokerstars did with FullTilt….they need to come out of this looking good as they whole DFS industry has legal issues!

  • Messiah717

    @KlairVoyant said...

    DraftDuel/ FanKings should step in here and save the Fantasyaces players like Pokerstars did with FullTilt….they need to come out of this looking good as they whole DFS industry has legal issues!

    They have profit and money issues of their own. I doubt their investors would be very happy with that. Especially since there has to be a legitimate reason another company backed out of the deal to take them over.

  • DoubleTime

    • 2016 King of Summer: August

    Does seem like if player funds are secure, this would be a good time for Aces to say so.

  • mbaldauf

    Going to throw this out there – take it for what its worth:

    This was a sale of the business – not our account *funds. Sure there had to be some sort of valuation based on the number of accounts but there is a lot of accounting/analysis behind the scenes that we aren’t aware of. FantasyDraft might have viewed something differently and changed their price to a number FantasyAces wouldn’t accept….at least I hope so. This happens in business all the time – its why due diligence periods exist.

    With that said, their PR and customer support has 100% sucked and they have a big hole to dig out of to get users back. They never should have said anything until the deal was final and they certainly should have been processing our withdrawals.

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