INDUSTRY FORUM

  • 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.”

  • deactivated146213

    @FastEddieFear said...

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

    Can you prove that? And make it readily available for anyone to view, at any time as they so wish?

  • MrFantasy

    @flyn100 said...

    Can you prove that? And make it readily available for anyone to view, at any time as they so wish?

    They are publicly traded. So they have that going for them

  • smallANDflaccid

    @MrFantasy said...

    They are publicly traded. So they have that going for them

    Which is nice.

  • bzsports4

    @tvsfrink said...

    It’s been proven FH stole money? Likely and proven are not the same thing.

    They have money that does not belong to them, and they wont give it back.

  • deactivated146213

    How much money has Rotogrinders profited off of FantasyHub?

  • Jaredmlevitt

    @flyn100 said...

    How much money has Rotogrinders profited off of FantasyHub?

    Are you insinuating that RG should make this whole?

  • bassic

    @Jaredmlevitt said...

    Are you insinuating that RG should make this whole?

    There’s no doubt that RG makes money in conjunction with touting for these sites, so this will hurt them too. It makes everything just seem shady, and even a hint of shadiness causes major damage to not just the DFS sites, but also sites like RG who more or less vouched for them and sent customers to them.

    Something HAS to be done otherwise this whole thing is just going to eventually crumble.

  • deactivated146213

    @Jaredmlevitt said...

    Are you insinuating that RG should make this whole?

    No, but they should ship any monies earned to the charities that were used to defraud us users. I would highly doubt that the earned amount would come anywhere close to making us users whole, so I wouldn’t suggest that.

  • MrFantasy

    @77racing said...

    LMFAO Not drinking the Kool-aide you been trying serve up

    Gaming Nation, is trading on the Toronto Stock Exchange Venture (TSX-V) under the symbol ‘FAN’

    I was responding to someone asking how they can be sure FantasyFeud has segregated funds. Look into it more on your own if you’d like.

  • wolfjb1

    @CallMeVick said...

    The player is already trying to beat the rake and other users, but now you’re telling me that they should’ve already known tht they were facing the gamble that their funds could possibly be lost if the site fails nd they don’t withdraw in time?

    The name-calling: Very mature, .

    Uh, yeah, you probably should have considered the possibility that you’d lose your money, because … you know … this isn’t too complicated but I’ll say it again: there are no rules about what happens with the money. This isn’t a bank with FDIC insurance. This isn’t a regulated industry. Anyone who thinks letting another company hold their money is a guarantee that you’ll get it back isn’t thinking straight. FD and DK may have reached a critical mass to the point where money is safe there, but there is no guarantee they won’t shut down tomorrow.

    I’m sure you have a ton of worldly experience, but I’ll say it again. Businesses rise and fall. People start companies and then they sometimes go under. This occurs every day. When they go down in flames, the customers (or vendors, users, players, etc.), lose their money. It happens, even if you personally are unaware of it happening around you and it’s never happened to you.

  • Back2Vegas

    I think one of the smaller sites (or collection of them) almost has to bail out FH. What is happening with FH is going to do a lot of damage to small sites by making people fearful to deposit/play on them. They need to bail FH out to show its still ok to play on small sites. I mean, who is going to eat their loss on FH and just sign up for another small site tomorrow? Nobody. At least I’m not. Everyone is just going to stick to DK/FD.

    The problem with just bailing them out though is it will most likely lead to bigger problems down the road. New sites or existing small sites could just start operating under the assumption that it’s ok to fail because someone will just bail them out. Then you have a really big problem.

    Like others have said we really need to get some regulation in the industry. The first rule has to be keeping player funds and operational funds seperate.

  • Ross
    @flyn100 said...

    How much money has Rotogrinders profited off of FantasyHub?

    I’m not sure what your point is? Player funds on FH and the RG affiliate program have nothing to do with each other….
    Your anger is pointed at the wrong place. This was not something that we or anyone else saw coming, the lack of communication regarding player funds from FH is a major problem, and one that Cal has reached out to them about.
    Getting players their $$ back should be the top priority of everyone…

    edit 4pm- also, this is just my opinion on the situation and not necessarily the view of RG. I’m sure Cal/Cam will chime in with their thoughts soon.

  • Back2Vegas

    Oh and somebody needs to add this to the list of ways to get bad beat in DFS. I play one one small site and of course it’s the one with the issues.

  • sabresrock29

    @RRT said...

    I’m not sure what your point is? Player funds on FH and the RG affiliate program have nothing to do with each other….
    Your anger is pointed at the wrong place. This was not something that we or anyone else saw coming, the lack of communication regarding player funds from FH is a major problem, and one that Cal has reached out to them about.
    Getting players their $$ back should be the top priority of everyone…

    I agree with this statement. It’s the same as someone recommending a contractor who did a good job on the referral’s house but walked away with money from the other person’s house

  • MiddleOut

    • 2017 DraftKings FFWC Finalist

    @tvsfrink said...

    Why can’t we be outraged tomorrow? Or Monday? The anger has to be displayed this exact moment or it’s lost forever? Or do you just lose a bunch of +1’s you wanted?

    I for one would feel pretty silly if I shouted THROW THESE ASSHOLES IN JAIL only to find out later they didn’t deserve it. I’m not saying they won’t deserve it in the end, but the odds of them not deserving this (no matter how small) are non-zero.

    But it’s more fun to yell than to think.

    It’s more fun to yell than think? What is there to think about? This site doesn’t have your money and they have been dishonest and evasive. Sitting silently just plays into their hands. If you wait until you have all of the facts to say something, then you will never say anything. You will never have all of the facts.

    You can sit there and talk about about how virtuous your patience and thinking is, but there are other valid, less flattering ways to describe it.

  • tvsfrink

    @smallANDflaccid said...

    Which is nice.

    You know what would be nice? NOT MAKING ME LAUGH DURING MY DARKEST HOURS!

  • wolfjb1

    Not sure why a site like FantasyFeud would buy out FantasyHub? You’re buying what you already have.

    There is nothing in it for the buyer, unless I’m missing something, like FH has better back-end technology or some assets that another smaller site covets.

    I assume that most players overlap between the two sites or go back and forth. So if the buyer bought FH, they’d be on the hook for the debts. I would rush to withdraw my money and so would a lot of people. So what’s in it for the buyer?

    I think the only way there’s a buyer is that someone else thinks they can make money off this game, despite seeing FH fail.

  • tvsfrink

    @MiddleOut said...

    You can sit there and talk about about how virtuous your patience and thinking is, but there are other valid, less flattering ways to describe it.

    Sounds reasonable.

  • DannyTanner

    I think it’s become extremely clear that a lot of these sites never intended to put together a good, functioning company but went into business with the mindset of acquiring customers at any/all costs then quickly flipping the company for mega-profits.

    When Ethan-gate burst the bubble on the industry, these sites were in too deep and there was/is no way to save them from the hole they dug when the sky appeared to be the limit.

    I’m not saying we shouldn’t trust any site that isn’t Fanduel or DraftKings because there are “smaller” sites that have and continue to do things the right way with a solid business plan that doesn’t include digging themselves into a hole with things like 500 percent deposit bonuses. But the motto “if it seems too good to be true, it probably is” rings true here.

    Best of luck to anyone hoping to be made whole here.

  • viewfromtop

    • 2013 StarStreet MLB Playboy Mansion Finalist

    Sorry but rg affiliate money is the players money

  • donnybasbl

    • 619

      RG Overall Ranking

    @MrFantasy said...

    Gaming Nation, is trading on the Toronto Stock Exchange Venture (TSX-V) under the symbol ‘FAN’

    I was responding to someone asking how they can be sure FantasyFeud has segregated funds. Look into it more on your own if you’d like.

    Maybe Canadian disclosure requirements are different, but I doubt you’re going to find anything in public filings that will show you a segregated escrow account for player funds.

    You are likely going to find a cash and corresponding escrow liability number on it’s balance sheet that combines all of it’s holdings (Fantasy Feud being only one of them). I doubt you will see a separate balance sheet disclosure for Fantasy Feud.

    You’re hoping that the fact that they are publicly traded brings with it the requirement of being audited and that separation of player funds would be part of some audit checklist.

    That being said, I’ve been playing at FF for years and have always been extremely happy with their customer service and game play and have never had any issues with withdrawals.

  • kdriskell311

    Steven P and the boys contemplating their next move…

  • Jcb890

    @tvsfrink said...

    Why can’t we be outraged tomorrow? Or Monday? The anger has to be displayed this exact moment or it’s lost forever? Or do you just lose a bunch of +1’s you wanted?

    I for one would feel pretty silly if I shouted THROW THESE ASSHOLES IN JAIL only to find out later they didn’t deserve it. I’m not saying they won’t deserve it in the end, but the odds of them not deserving this (no matter how small) are non-zero.

    But it’s more fun to yell than to think.

    You can be outraged tomorrow or Monday too if you’d like. Of course it is not lost.

    Not sure what your “+1’s” comment is supposed to mean. Do we get something cool if people “+1” our posts? I thought not. I just want things to work the way they are supposed to and for people to get their money. I enjoyed playing on FH as well and with this crap going on, there is zero chance they’ll get any further money. Especially with this stuff about them possibly not paying out charities. I also said nothing about throwing anyone in jail.

    What are you waiting for before it is OK with you to be upset/outraged? As we saw with the Fantasy Up situation, that went on for months and nothing ever really came out as far as information or details. Nobody knows what happened other than some BS response by the con artist former owner. iTEAM took it over, helped (or is helping) people get their funds and is/was making things right. However, no actual information on the situation or what happened came out and the stuff that did come out, who the hell is going to believe or care what the former owner (con artist) has to say anyways.

    At this point, does anyone really care what Steven has to say if it isn’t in response to player funds? All that matters right now is players’ funds and if charities actually were being paid. Any other information is going to be met with skepticism and rolling of eyes and more bitching if the response does not include information about the two main issues here.

    But sure, keep sticking up for FH for no reason, we’ve seen how well that has turned out in the past. Actually, there are far less pro-FH (pro con artist) people in this thread than some of the others, like Fantasy Up. You are welcome to your opinion, as is everyone else and people are welcome to voice their displeasure which is more than warranted. Good for you being the “Guardian at the Gate” for the poor DFS companies that just can’t catch a break trying to swindle people out of their money.

  • 77racing

    @kdriskell311 said...

    Steven P and the boys contemplating their next move…

    Bunch of NICE guys though…NOT

  • tvsfrink

    @Jcb890 said...

    Good for you being the “Guardian at the Gate” for the poor DFS companies that just can’t catch a break trying to swindle people out of their money.

    Lol, this is just getting silly now.

    I try to couch my words with things like “likely” as in “it’s likely our money is gone” and suddenly I’m a FH shill. Amazing.

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