Tomorrow's Newspaper Posted February 9, 2017 Report Share Posted February 9, 2017 Cant believe this isn't bigger news. Heard one player had over 90k there. And this is an American company? Quote Link to comment Share on other sites More sharing options...
Timely Hitting Posted February 9, 2017 Report Share Posted February 9, 2017 Filed for bankruptcy. Pretty fucked up. Quote Link to comment Share on other sites More sharing options...
milwaukee mike Posted February 9, 2017 Report Share Posted February 9, 2017 stuff happens all the time and yet dumbasses still leave a 90k balance with people they never met, and have no idea who they are hell i wouldn't trust my family members or best friends with 10k let alone 90k Quote Link to comment Share on other sites More sharing options...
easy does it Posted February 9, 2017 Report Share Posted February 9, 2017 How is a fantasy site going bankrupt possible? They charge -120 to every player and never have to take a side meaning profit is guaranteed. Imagine a bookie charging -120 and always having equal action so they would always keep the vig. I'm interested to learn what they messed up on? Quote Link to comment Share on other sites More sharing options...
milwaukee mike Posted February 9, 2017 Report Share Posted February 9, 2017 How is a fantasy site going bankrupt possible? They charge -120 to every player and never have to take a side meaning profit is guaranteed. Imagine a bookie charging -120 and always having equal action so they would always keep the vig. I'm interested to learn what they messed up on? they were stealing money fantasy hub and fantasy up both did the same thing... the owners pay themselves tons of money, rack up debt, and then declare bankruptcy, story as old as time it's easier to steal $1.2 million by declaring bankruptcy than work 12 years making $100k/year Quote Link to comment Share on other sites More sharing options...
easy does it Posted February 9, 2017 Report Share Posted February 9, 2017 they were stealing money fantasy hub and fantasy up both did the same thing... the owners pay themselves tons of money, rack up debt, and then declare bankruptcy, story as old as time it's easier to steal $1.2 million by declaring bankruptcy than work 12 years making $100k/yearWhat's the legal ramifications? Do they get away with sending the money offshore, declaiming bankruptcy and getting away with not having to pay players without any legal trouble, considering the amount very surprised I haven't heard about this yet. I guess the big fantasy sites don't want this news coming out and scaring players away Quote Link to comment Share on other sites More sharing options...
milwaukee mike Posted February 9, 2017 Report Share Posted February 9, 2017 What's the legal ramifications? Do they get away with sending the money offshore, declaiming bankruptcy and getting away with not having to pay players without any legal trouble, considering the amount very surprised I haven't heard about this yet. I guess the big fantasy sites don't want this news coming out and scaring players away they didn't steal the money by just sending it offshore they used it for "operations" which means the writing was on the wall that they weren't going to be profitable much longer, so their salaries got bumped up nothing criminal about overpaying yourself and stiffing banks, although there probably should be debtors prisons Quote Link to comment Share on other sites More sharing options...
Tomorrow's Newspaper Posted February 9, 2017 Author Report Share Posted February 9, 2017 Yeah. I heard on their financial reports 6 months ago it showed player balances of 1.5 million, cash on hand 500k. Writing was on the wall, but those that knew had their hand in the cookie jar via advertising, referral programs etc, and didn't want to lose the cash cow Quote Link to comment Share on other sites More sharing options...
milwaukee mike Posted February 9, 2017 Report Share Posted February 9, 2017 Yeah. I heard on their financial reports 6 months ago it showed player balances of 1.5 million, cash on hand 500k. Writing was on the wall, but those that knew had their hand in the cookie jar via advertising, referral programs etc, and didn't want to lose the cash cow if you're already in that position, then it would be pretty dumb to pay back the 500k instead of using it for salaries a while longer Quote Link to comment Share on other sites More sharing options...
Tomorrow's Newspaper Posted February 9, 2017 Author Report Share Posted February 9, 2017 salaries probably included them playing in guaranteed contests. I would think the overlays would kill them so they probably entered a bunch hoping to hit one. Quote Link to comment Share on other sites More sharing options...
rito Posted February 9, 2017 Report Share Posted February 9, 2017 Got a big payout in October, looks like that was about the end. Still had a decent amount left in the accout. Quote Link to comment Share on other sites More sharing options...
rito Posted February 9, 2017 Report Share Posted February 9, 2017 How is a fantasy site going bankrupt possible? They charge -120 to every player and never have to take a side meaning profit is guaranteed. Imagine a bookie charging -120 and always having equal action so they would always keep the vig. I'm interested to learn what they messed up on?Guaranteed contests often dont fill. Quote Link to comment Share on other sites More sharing options...
rito Posted February 9, 2017 Report Share Posted February 9, 2017 stuff happens all the time and yet dumbasses still leave a 90k balance with people they never met, and have no idea who they are hell i wouldn't trust my family members or best friends with 10k let alone 90kLike everything its a calculated risk. If you want to bet 100k a day, you need 100k availble. Quote Link to comment Share on other sites More sharing options...
milwaukee mike Posted February 9, 2017 Report Share Posted February 9, 2017 Got a big payout in October, looks like that was about the end. Still had a decent amount left in the accout. sorry to hear you were one of the ones getting stiffed hopefully it's nowhere near 90k Quote Link to comment Share on other sites More sharing options...
milwaukee mike Posted February 9, 2017 Report Share Posted February 9, 2017 Like everything its a calculated risk. If you want to bet 100k a day, you need 100k availble. yeah i'm thinking of the guy that won a big one and is playing 1000/day Quote Link to comment Share on other sites More sharing options...
Tomorrow's Newspaper Posted February 9, 2017 Author Report Share Posted February 9, 2017 fantasy alarm had some sort of arrangement with them too. They were always hyping them up on their website and sending emails about their tournaments. It was funny listening to those guys on the radio yesterday. Wish I didn't have to work so I could hear the whole thing Quote Link to comment Share on other sites More sharing options...
FairWarning Posted February 9, 2017 Report Share Posted February 9, 2017 fantasy alarm had some sort of arrangement with them too. They were always hyping them up on their website and sending emails about their tournaments. It was funny listening to those guys on the radio yesterday. Wish I didn't have to work so I could hear the whole thingI think they had a small stake in Aces. I had a little in a account but didn't play there since summer. Quote Link to comment Share on other sites More sharing options...
ajt Posted February 9, 2017 Report Share Posted February 9, 2017 Glad I never played there. Quote Link to comment Share on other sites More sharing options...
Hoops Posted February 9, 2017 Report Share Posted February 9, 2017 I only play at Fanduel now and I withdraw immediately when I win... wouldn't leave 10 bucks in these places more than a day Quote Link to comment Share on other sites More sharing options...
Guest boatboatboat Posted February 9, 2017 Report Share Posted February 9, 2017 Got a big payout in October, looks like that was about the end. Still had a decent amount left in the accout.Hopefully another company will step in and offer you a chance to get some of your money back Quote Link to comment Share on other sites More sharing options...
milwaukee mike Posted February 9, 2017 Report Share Posted February 9, 2017 Hopefully another company will step in and offer you a chance to get some of your money back that would be aces! Quote Link to comment Share on other sites More sharing options...
rito Posted February 9, 2017 Report Share Posted February 9, 2017 Hopefully another company will step in and offer you a chance to get some of your money back Think that passed with the BK filing. They were trying to set something up. This place always felt sketchy. Like they send me a six figure check last summer that was handwritten. But, right after that they bought(took over) another site (fantasy feud maybe i dont remember). Quote Link to comment Share on other sites More sharing options...
KingKolzig Posted February 9, 2017 Report Share Posted February 9, 2017 fantasy landers Quote Link to comment Share on other sites More sharing options...
gijoe066 Posted February 9, 2017 Report Share Posted February 9, 2017 I quit Fantasy when co-worker got inside info and cleaned house. That goes on a lot but we don't know about it Quote Link to comment Share on other sites More sharing options...
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