INDUSTRY FORUM

Comments

  • dayman

    So I originally put in a withdrawal request on the 28th of January. I then got an email from them on February 2nd that I needed to submit a W9 and that my withdrawal wouldn’t be processed until I did. I emailed them the W9 on the 5th (and received a 1099 in the mail from them two days ago).

    My withdrawal still hasn’t gone through. I emailed them on the 12th, and contacted them through the website yesterday, both with no response… Anyone else having issues with them?

    3/10/16 UPDATE: DraftKings strikes a deal to cover all unpaid FantasyHub balances and liabilities. Read more from David Purdum on ESPN!

    DraftKings Co-Founder Matt Kalish’s Statement: “This is not an acquisition deal or an asset purchase deal. This is a very simple deal, where we’re assigning two liabilities from [FantasyHub] over to DraftKings in an effort to do the right thing for their player base, which has a nearly 80 percent overlap with our own. We never want to see our player base go through an experience that’s negative like this. What happened here was reprehensible. It is a breach of trust for these players and we share a lot of these players with them. We just didn’t think it was the right thing to do to sit on the sideline and let that happen. We had the ability to step up and do something.”

  • Ryazan

    • x3

      2015 FanDuel WFFC Finalist

    • x2

      2015 FanDuel WFBC Finalist

    they weren’t supposed to take any people’s money. If they were losing $100,000 due to a bad business plan, they aren’t supposed to take $100,000 from player funds to cover that – the player funds should have been available to everyone no matter what. Taking people’s play money and using it for the business is FRAUD.

    Jail time for friendly Steven

  • kidace1

    @Ryazan said...

    figure what out? They didnt keep players money separate from operational costs, otherwise it would be there available for withdrawal. That’s #1 taboo when it comes to running a DFS site. They STOLE user’s money and treated it like investors money.

    The idea that they are working something out to get their ass saved doesn’t mean that they didn’t steal users money (and possibly lied about giving to charity since not a single person has had a charity confirm anything for them yet)

    I dont know why everyone hates you man, you make some of the best posts and valid points as much as anyone on this site.

  • Jcb890

    @StevenP said...

    Hi guys,

    We really appreciate the concerns that you are bringing up and apologize for the radio silence.

    I can assure you we will be issuing a formal response very soon and ask if everyone could hold their concerns until this Friday for more information.

    Best,
    Steven

    I’m still reading the thread, but this response was comical at best. No response for days, then a quick response asking people to remain silent for an entire week while not knowing what is going on with their balances, some people who have five figures on the line.

    I really enjoyed playing at FantasyHub, but unless there is an amazing and miraculous ending to this saga, there is no reason anyone should use their product(s) in the future.

  • justdmbobbo

    2014 DFBC Finalist

    • 2014 FanDuel WFBC Finalist

    I’m sure the NY Times is formulating another front page story on this situation and the dangers of Daily Fantasy Sports as we speak.

  • bassic

    This isn’t the first, or likely last, of these smaller sits to be touted by Rotogrinders, only for them to fold and essentially steal from their customers.

    The stench of this is spreading, and it isn’t good for RG, or the industry as a whole. Not sure if there’s any way for the powers that be here at RG to do more serious vetting before endorsing these sites, but this shit is getting REAL OLD, REAL FAST. Everything is at risk.

    The house of cards continues to crumble…

  • FastEddieFear

    Yes, of course; player funds are segregated. Those funds are never used for operational expenses.

  • Tsw1999

    @Ryazan said...

    figure what out? They didnt keep players money separate from operational costs, otherwise it would be there available for withdrawal. That’s #1 taboo when it comes to running a DFS site. They STOLE user’s money and treated it like investors money.

    I posted pages ago about recently receiving a check from them. I called the bank and was told that funds were available. I deposited the check but it hasn’t cleared yet, however.

  • detroittigers44

    @bassic said...

    This isn’t the first, or likely last, of these smaller sits to be touted by Rotogrinders, only for them to fold and essentially steal from their customers.

    The stench of this is spreading, and it isn’t good for RG, or the industry as a whole. Not sure if there’s any way for the powers that be here at RG to do more serious vetting before endorsing these sites, but this shit is getting REAL OLD, REAL FAST. Everything is at risk.

    The house of cards continues to crumble…

    I agree, yeah some of us are here asking for details on a couple hundred dollars, some a couple thousand… But the reality is, this is horrible for the industry and will continue to hit the news… Hopefully FH was small enough that this doesn’t make a huge story in the major media, but it just might..

    Consider this too, all-star break was a long week with no DFS action, so bad that I resorted to playing freakin NHL and college BBALL, I can hardly fathom if DFS went away in its entirety. No MLB, NBA, NFL would be a tough pill to swallow.

  • SouthernShield

    @FastEddieFear said...

    Yes, of course; player funds are segregated. Those funds are never used for operational expenses.

    My FH action is moving to FF

  • manBEAST

    I know everybody wants to throw Steven under the bus, but maybe practice a little patience here….if someone is buying out the customer base and or site that could be a good thing in the long run…problem with DFS is its instant gratification and I know it sucks waiting for payments, but I’m confident I’m going to get paid. I may not have as much as you on the line, but if I was ever thinking about starting up a DFS site and I came to some of these recent threads I’d probably not want to deal with some of the customer base.

    Does it suck? Yes..not having transparency is not good, but if they are working on a deal why leave details here so more people can hop on the bus to drive over these guys. Not taking anysides here just getting a little tired of the negative nancys claiming the end of DFS because things didn’t work out. Tough lessons might include not leaving a large balance on ANY DFS site at ANY time….

    Again I don’t have any answers, but the tone of these recent threads where people are getting their pitchforks and wanting the burn the site owners at the stake are a little drastic. Now you can tell me to screw off, but nothing is getting accomplished with all the negativity, but I’m a glass half-full kind of guy. I hope this site is eventually bought and run by someone else, because they do have unique software and as someone else said they were the last site to have 5/7 golfers so maybe another site will use that format as customers like it. Good luck everyone involved!

  • Aalbanese102089

    http://www.legalsportsreport.com/8411/fantasyhub-shuts-down/

  • tvsfrink

    @manBEAST said...

    Now you can tell me to screw off

    I’d rather salute you.

  • detroittigers44

    @manBEAST said...

    I know everybody wants to throw Steven under the bus, but maybe practice a little patience here….if someone is buying out the customer base and or site that could be a good thing in the long run…problem with DFS is its instant gratification and I know it sucks waiting for payments, but I’m confident I’m going to get paid. I may not have as much as you on the line, but if I was ever thinking about starting up a DFS site and I came to some of these recent threads I’d probably not want to deal with some of the customer base.

    Does it suck? Yes..not having transparency is not good, but if they are working on a deal why leave details here so more people can hop on the bus to drive over these guys. Not taking anysides here just getting a little tired of the negative nancys claiming the end of DFS because things didn’t work out. Tough lessons might include not leaving a large balance on ANY DFS site at ANY time….

    Again I don’t have any answers, but the tone of these recent threads where people are getting their pitchforks and wanting the burn the site owners at the stake are a little drastic. Now you can tell me to screw off, but nothing is getting accomplished with all the negativity, but I’m a glass half-full kind of guy. I hope this site is eventually bought and run by someone else, because they do have unique software and as someone else said they were the last site to have 5/7 golfers so maybe another site will use that format as customers like it. Good luck everyone involved!

    You make a few valid points here and I try to be a glass half full type person as well.. However, if anything AT ALL was pointed in a positive direction, then give us that… If all money was secure, tell us THAT!!! It doesn’t help anyone or anything by being so damn vague that people are getting pitchforks. The reason that is happening is the horrible response… How bad must things be that you can’t shed any light on anything other than we are working on it?

  • JdotBrone

    Trying not to jump to any conclusions yet. Sounds to me like they are/were on the verge of bankrupcy and are negotiating a deal with a third party for pennies on the dollar. Even if a deal goes through it’s any ones guess if we will see our $$ again.

    IF I get my $300 back from FH I’ve decided to just let it roll in the FD Monster.

  • tvsfrink

    “Sam Shefrin, of Daily Fantasy Cafe, offered this statement: “We have filed suit in order to collect outstanding invoices for advertising totaling more than $14,000.00””

    Ah crap, that’s not good.

  • Gogrizzgo

    Well I got burned too. I am a micro stakes player that just does this as a hobby. So losing over $100 is quite a hit to my bankroll! I guess I will just quit playing the small sites altogether and stick to the big 2. It is situations like this that give DFS a bad rep and may get it outlawed altogether.

  • wolfjb1

    @manBEAST said...

    practice a little patience here

    A little patience?

    I own a small business. I have to make payroll. How do you think it would go if I couldn’t meet payroll one month and told my employees to have a little patience? The answer is that they might or might not be patient, but every one of them will start sending out resumes looking for a new employer who doesn’t ask for patience in receiving their paychecks.

    Same deal here. Unless FH is subsumed into a “real” DFS site, they’re done forever. They have no credibility and you’d be a fool to put any money into Fantasy Hub 2.0 or whatever they come up with.

  • tvsfrink

    @wolfjb1 said...

    A little patience?

    I own a small business. I have to make payroll. How do you think it would go if I couldn’t meet payroll one month and told my employees to have a little patience? The answer is that they might or might not be patient, but every one of them will start sending out resumes looking for a new employer who doesn’t ask for patience in receiving their paychecks.

    Same deal here. Unless FH is subsumed into a “real” DFS site, they’re done forever. They have no credibility and you’d be a fool to put any money into Fantasy Hub 2.0 or whatever they come up with.

    Maybe “a little patience” as in “don’t call them assholes and wish death on them” just yet?

  • jregger

    I almost laughed when the credit card rep read off my claim ID starting with “DP…”

    We got DP’d all right

  • esnyd10987

    To the smaller sites on Rotogrinders:

    It’s unavoidable at this point. You are going to need to find a way of showing proof that player funds are segregated from operational funds in some easily accessible or requestable format. I think I saw something from iTeam (just rescued FantasyUp) saying they had an outside audit performed monthly and that the results could be requested by users at any time. Yeah this is going to be a pain in the ass for you to setup but it is what it is, FantasyUp and FantasyHub have changed the DFS landscape dramatically over the past few weeks and you might as well get ahead of the curve unless you want a mass departure of users over to FD and DK.

  • 77racing

    @manBEAST said...

    I know everybody wants to throw Steven under the bus, but maybe practice a little patience here….if someone is buying out the customer base and or site that could be a good thing in the long run…problem with DFS is its instant gratification and I know it sucks waiting for payments, but I’m confident I’m going to get paid. I may not have as much as you on the line, but if I was ever thinking about starting up a DFS site and I came to some of these recent threads I’d probably not want to deal with some of the customer base.

    Does it suck? Yes..not having transparency is not good, but if they are working on a deal why leave details here so more people can hop on the bus to drive over these guys. Not taking anysides here just getting a little tired of the negative nancys claiming the end of DFS because things didn’t work out. Tough lessons might include not leaving a large balance on ANY DFS site at ANY time….

    Again I don’t have any answers, but the tone of these recent threads where people are getting their pitchforks and wanting the burn the site owners at the stake are a little drastic. Now you can tell me to screw off, but nothing is getting accomplished with all the negativity, but I’m a glass half-full kind of guy. I hope this site is eventually bought and run by someone else, because they do have unique software and as someone else said they were the last site to have 5/7 golfers so maybe another site will use that format as customers like it. Good luck everyone involved!

    In your eyes..Yes blame the player NOT the game..What is wrong with people?

  • wideopen23

    @manBEAST said...

    Link

    While I don’t have much money left on the site, this “we are about to be taken over” line has been used before and rarely is it true. I have seen this line used in the poker industry when people weren’t getting paid. There is no correlation to getting paid and them being taken over.

  • DCoop328

    @FastEddieFear said...

    Yes, of course; player funds are segregated. Those funds are never used for operational expenses.

    Are funds added to the segregated account as bonuses/overlay… accrue. This is also a HUGE problem if not.

  • SouthernShield

    @wideopen23 said...

    While I don’t have much money left on the site, this “we are about to be taken over” line has been used before and rarely is it true. I have seen this line used in the poker industry when people weren’t getting paid. There is no correlation to getting paid and them being taken over.

    Aces did take over Draft Team. I don’t remember EXACTLY how things went, but I do know that I could either WD my money or move it to Aces and get Bonus Credit equal to the amount moved over.

  • britdevine

    • 2014 StarStreet MLB Playboy Mansion Finalist

    Time to dispute with Citi, this should be fun

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