FantasyHub Customers Unable To Access FundsFebruary 25, 2016 11:36 am
DFS site FantasyHub has left its customers high and dry after the site suspended its operation on February 19th, thus leaving its players unable to gain access to their online accounts. Now, when they try to enter the site they are greeted with the following message:
“FantasyHub has temporarily suspended operations. Further updates have been made via email. We apologize for any inconvenience this may cause, but we are currently in discussions with a strategic 3rd party regarding the future of FantasyHub & its players.”
Founded by Andrew Busa in 2013, FantasyHub subsequently ran into difficulties and was later rescued by the iTEAM network. The site is curently a member of the Fantasy Sports Trade Association (FTSA), which offers guidelines to fantasy sports companies operating within the USA’s unregulated DFS market. One of the stipulations of the organization is that operators should keep their player funds separated from operating funds, but in the absence of an official third-party watchdog, there is no way of telling whether or not this is what FantasyHub has done.
In the meantime, irate customers have been venting their frustrations of the situation via online forums, including Pitch120 on rotogrinders.com, who wrote:
“Rather than trying to find a reason and justify what happened, everyone should just move on. No one is getting their money, everyone got screwed. Lesson is definitely to not trust any of these newer sites. Everyone got too greedy because of the big prize pools and overlay, but in the end, it was one giant failure.”
By all appearance, FantasyHub now seems likely to become the second DFS company to close this year, with FantasyUp shutting shop just a few weeks earlier. Needless to say, this will reflect badly on the DFS industry, at a time when it is already reeling from an insider trading scandal which hit the news back in October 2015, as well as the various state investigations regarding the games legality currently underway in the US.